Since January 1, 2026, the Office des Changes has published a new General Instruction on Foreign Exchange Operations (IGOC 2026) that fundamentally overhauls the rules applicable to Moroccans living abroad. Expanded mortgage financing, higher e-commerce ceilings, investment facilities: this guide breaks down each concrete measure and its impact on your projects in Morocco.
MRE mortgage: financing raised to 80% with no limit on properties
This is the flagship measure for the diaspora. Moroccan banks can now grant Moroccans abroad dirham-denominated loans covering up to 80% of the property value, up from 70% previously. The remaining 20% (personal contribution) must be paid through foreign currency conversion via your MRE account. Another advancement: the limit on the number of financed properties has been removed. You can finance multiple property purchases (residence, rental investment) through dirham loans. Loan amounts are held in a dirham account opened in the beneficiary's name. Repayment can be made by monthly transfer from your foreign account, converted to dirhams at the Bank Al-Maghrib rate of the day.
💡 Tip — Compare offers from several Moroccan banks. The move from 70% to 80% reduces your down payment from 30% to 20%, representing significant savings in foreign currency to mobilize. A mortgage broker in Morocco can negotiate a rate 0.20% to 0.50% lower.
⚠️ Warning — The 20% down payment must go through documented foreign currency conversion. Keep all SWIFT transfer receipts: they constitute your right to repatriate funds if you resell.
E-commerce and online purchases: ceiling raised to 20,000 MAD
The authorized ceiling for online purchases by Moroccan individuals, including those living abroad, is raised to 20,000 dirhams per calendar year, up from 15,000 dirhams previously. This e-commerce allowance covers online payments made from a Moroccan bank account or MRE account for purchases on foreign platforms. For MRE holders of convertible dirham accounts, online purchases can be settled directly from this account without additional formalities, within the annual ceiling.
💡 Tip — If you regularly use international platforms (Amazon, AliExpress) from Morocco during your visits, this 20,000 MAD allowance is now sufficient for most everyday needs.
Foreign investment: facilities for certified startups
Tech startups certified by the Digital Development Agency (ADD) can now invest abroad up to 10 million dirhams per year, without needing to prove three years of activity or have their accounts certified by an auditor. For MRE entrepreneurs who have created a startup in Morocco, this measure opens considerable international expansion possibilities. The allowance for newly created companies is set at a minimum of 50,000 dirhams per calendar year, even without foreign currency or convertible dirham accounts.
💡 Tip — If you are an MRE who has created or is considering creating a startup in Morocco, the ADD label can be obtained from the Digital Development Agency. It opens access to this 10 million MAD allowance as well as other tax advantages.
Travel and study abroad allowances: ceilings raised
The overall personal travel allowance ceiling is set at 500,000 dirhams per calendar year, including a base allowance of 100,000 dirhams and an additional allowance raised to 400,000 dirhams, calculated at 30% of income tax paid. For Moroccan students abroad, the study stay expense ceiling is raised to 15,000 dirhams per month, up from 12,000 dirhams previously. Foreign residents in Morocco now benefit from the same regime as Moroccans for personal travel and medical care.
💡 Tip — If you are an MRE parent of a student in Morocco wishing to pursue studies abroad, the increase from 12,000 to 15,000 MAD per month considerably facilitates financing tuition at a European university.
Investment income repatriation: new facility
The IGOC 2026 provides a facility for foreign residents holding investments in Morocco for more than 10 years who lack foreign currency financing documentation: they can now transfer income from these investments up to 2 million dirhams per calendar year. For MRE holders, the repatriation framework remains unchanged: the net proceeds from property sale can be transferred up to the amount of principal repayments made through foreign currency conversion, plus any capital gain. Keep all original foreign currency conversion receipts to facilitate your repatriation operations.
💡 Tip — If you are an MRE planning to sell a property in Morocco, fund repatriation requires presenting original foreign currency conversion forms. Ask your Moroccan bank to compile a complete file from the time of purchase.
⚠️ Warning — Without foreign currency conversion documentation, repatriation of sale proceeds can be blocked by the Office des Changes. This point is often overlooked by MRE who buy in cash or without banking traceability.
In depth
The IGOC 2026 is part of the Office des Changes' 2025-2029 strategic vision. It restructures all regulations by type of operation and user profile. For MRE, the most impactful changes concern mortgages (from 70% to 80% financing, removal of property number limits), e-commerce (ceiling raised to 20,000 MAD), and hedging instruments. The complete instruction is available for free download on the Office des Changes website (oc.gov.ma).
❌ Common mistakes to avoid
- ✕Buying a property without documented foreign currency conversion, which blocks fund repatriation upon resale
- ✕Confusing the e-commerce ceiling (20,000 MAD) with the personal travel allowance (100,000 MAD base)
- ✕Not checking whether your Moroccan bank already applies the new 80% financing rate
- ✕Forgetting to keep original foreign currency conversion forms throughout the property holding period
🔗 Official links and resources
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