LLC owns property, liabilities

Nolita Matuschka Member

Member since 19 November 2023

Nolita MatuschkaMember19 November 2023 11:28:27

Hello.

I鈥檓 hoping you speak English but I can use Google translate and add the translation.

I am a US citizen interested in buying property in Fez through my LLC. If the title to the house is under the LLC does that make me a resident? Can the LLC own a car as well?

I鈥檓 also curious about tax law. I read that you are considered a tax resident if you are there 183 days a year.

If my LLC owns a property but I am living there less than 6 months what are the tax implications? (Income tax)

Also how much are property taxes? And house insurance?

Thank you for your time.

Mouad Aktaou Member

Member since 12 July 2022

Mouad AktaouMember20 November 2023 07:59:51

Dear Mrs Matuschka,

First of all you need to pay attention, due to the fact that most of properties in m茅dina of Fes are not titled (Melkia) and you will need to register it at Land Registry once you buy it.

For the question of purchasing property under an LLC name, owning an LLC in Morocco permit you to apply for residency.

Yes you are consider as tax resident if you stay more than six month in Morocco.

Your LLC will pay corporate tax and communal tax on the property even if you are not tax resident.

Property tax are generally depening on the area where it is located and the square metter.

If you need any legal support regarding your project reach me, i will be delighted to advise and assist you.

Mouad Aktaou