Bringing MAD out of Morroco?!
Mar 29th 2009 | 9:13 pm
#1
Thread Starter
Forum Regular
Joined: Nov 2008
Posts: 213
Bringing MAD out of Morroco?!
Hi all?
I am having a bit of a dilemna, a few years back I invested some money in a development in Morroco and wasn't informed of any restrictions when bringing profits out! Now I have exited this investment and am sitting on a tidy profit, I find myself in the situation where I can't transfer any more than the initial capital invested back to the UK.
Is there any way around this, all very well having a profit, but not if I can't reinvest it elsewhere, and it takes up quite a large percentage of my investment capital,ie,things are pretty much ground to a halt until i can find a solution.
Thanks for any help you may be able to give.
All the best,
Will
I am having a bit of a dilemna, a few years back I invested some money in a development in Morroco and wasn't informed of any restrictions when bringing profits out! Now I have exited this investment and am sitting on a tidy profit, I find myself in the situation where I can't transfer any more than the initial capital invested back to the UK.
Is there any way around this, all very well having a profit, but not if I can't reinvest it elsewhere, and it takes up quite a large percentage of my investment capital,ie,things are pretty much ground to a halt until i can find a solution.
Thanks for any help you may be able to give.
All the best,
Will
Sep 7th 2009 | 7:00 am
#2
Just Joined
Joined: Sep 2009
Posts: 1
Re: Bringing MAD out of Morroco?!
Hi there,
It's too difficult to bring out MAD, because there is a law which forbidden that. But there is other ways to get your money outside is to contact Moroccans living abroad Morocco, So you can ask someone to transfer you the money in you british account while to deposit the equivalent in MAD in his moroccan account.
Please feel free to contact me for more details.
It's too difficult to bring out MAD, because there is a law which forbidden that. But there is other ways to get your money outside is to contact Moroccans living abroad Morocco, So you can ask someone to transfer you the money in you british account while to deposit the equivalent in MAD in his moroccan account.
Please feel free to contact me for more details.
Sep 7th 2009 | 10:06 am
#3
Senior Moment
Joined: Jan 2006
Posts: 20,459
From: On the edge
Re: Bringing MAD out of Morroco?!
Hi there,
It's too difficult to bring out MAD, because there is a law which forbidden that. But there is other ways to get your money outside is to contact Moroccans living abroad Morocco, So you can ask someone to transfer you the money in you british account while to deposit the equivalent in MAD in his moroccan account.
Please feel free to contact me for more details.
It's too difficult to bring out MAD, because there is a law which forbidden that. But there is other ways to get your money outside is to contact Moroccans living abroad Morocco, So you can ask someone to transfer you the money in you british account while to deposit the equivalent in MAD in his moroccan account.
Please feel free to contact me for more details.
Sep 14th 2009 | 8:15 am
#6
BE Forum Addict
Joined: Apr 2007
Posts: 1,424
Re: Bringing MAD out of Morroco?!
What is the maximum a Morrocan Citizen can take out in a year?
Find a bunch of Students, pay for their Airfare and Visa's, pay them some pocketmoney, get their allocation in TC's which you hold, when you all get to wherever,they sign the otherhalf over to a small business you have registered and you bank it.
Expensive but if all else fails.
become an expert in Philately, buy rare stamps in Morroco, put them in your pocket and fly elsewhere, you will lose 50% of the face value when you sell them to a dealer or less if you sell them at Sotheby's or Christies's.
If you decide to keep it for 5 years they will increase in value.
Buy a 35 or 40 foot yacht,sail it from Morroco to France,Monaco or Italy, sell it or keep it for Holidays.
The boats value will increase in time but only breakeven with the maintenance.
Find a bunch of Students, pay for their Airfare and Visa's, pay them some pocketmoney, get their allocation in TC's which you hold, when you all get to wherever,they sign the otherhalf over to a small business you have registered and you bank it.
Expensive but if all else fails.
become an expert in Philately, buy rare stamps in Morroco, put them in your pocket and fly elsewhere, you will lose 50% of the face value when you sell them to a dealer or less if you sell them at Sotheby's or Christies's.
If you decide to keep it for 5 years they will increase in value.
Buy a 35 or 40 foot yacht,sail it from Morroco to France,Monaco or Italy, sell it or keep it for Holidays.
The boats value will increase in time but only breakeven with the maintenance.
