Transferring money back to the UK from Morocco

sammyboy999 · #1 10-02-2007, 05:06 PM

I'm looking at buying a property off plan and was wondering if any knew if there are any restrictions on transferring money back out of Morocco when I sell. Also, what would the tax implications be on the money returning to the UK. Will all cash be subject to 40% tax, or just the profit? and are there any ways to avoid this?

propertyinvest · #2 11-02-2007, 08:49 PM

Quote:

Originally Posted by sammyboy999

I'm looking at buying a property off plan and was wondering if any knew if there are any restrictions on transferring money back out of Morocco when I sell. Also, what would the tax implications be on the money returning to the UK. Will all cash be subject to 40% tax, or just the profit? and are there any ways to avoid this?

I think all depends what lawyers you have , i know with the project i got involved with i pay the CGT in morocco but not u.k i dont know to much about it.I will give you a contact number for someone who will tell you how it is. his name is Ian ( director of the company i went though ) 07971695373