Before you start

Passport, and carte de séjour or récépissé
Proof of address in Marrakech
Foreign currency import declarations or bank exchange receipts, for a convertible account
For property: a bank transfer trail from abroad, and a notary who documents it

Step-by-step

1
Decide the account type before you open anything
Income from abroad points to a convertible-dirham or foreign-currency account. A Moroccan salary points to an ordinary resident account, with the transferable share of net salary handled separately under exchange rules. Many people hold both, deliberately.
In personWho: YouBefore opening
2
Fund the convertible account correctly and keep the paperwork
Credits must come from selling foreign currency or from transfers from abroad, evidenced by the currency import declaration or the bank's exchange receipt — documents that are only accepted within roughly a month of issue. File every one. They are the proof the money originated outside Morocco.
In personWho: You
3
If you are buying property, route the money through the bank and say so
The purchase price should arrive as a declared transfer of foreign currency into a Moroccan account, and the notary's deed should record the source. This is what preserves the right to repatriate sale proceeds. Cash brought in over several trips does not create that right.
In personWho: You
4
Choose a branch, not just a bank
Attijariwafa, BMCE Bank of Africa, Banque Populaire and Société Générale Maroc all deal with foreign clients. Marrakech branch quality varies sharply and the relationship manager matters more than the logo. Ask other foreign residents which specific branch and which person.
In personWho: You
5
Expect cash to remain central in the medina
Card acceptance is good in Gueliz supermarkets, hotels and restaurants and poor in the souks, small groceries and among tradesmen. Renovation work in particular runs largely on cash. Keep small notes and get written receipts for anything substantial.
In personWho: You
6
Do not assume you can wire dirhams home later
There is no general right for a resident to transfer dirhams abroad. Permitted categories are specific — net salary after tax, declared investment income, pensions and defined current transfers, each against justification. Sort your currency position on the way in.
In personWho: You

Documents you’ll need

Passport
Carte de séjour or récépissé
Proof of address
Currency import declarations and exchange receipts
Notarial deed and transfer evidence, for property

Things most newcomers don’t know

The right to take your money out of Morocco is created when it comes in, not when you want to leave.

Repatriation rests on the money having entered through the banking system in convertible currency, with the import declaration or exchange receipt kept, and — for an investment — with a declaration to the Office des Changes at the time. There is no mechanism for retrospectively establishing that cash you brought in gradually was foreign in origin. This is the single most expensive mistake foreign property buyers make in Marrakech, and it surfaces years later at the sale.

Source: Office des Changes

Exchange receipts expire, which turns record-keeping into a financial control.

Crediting a convertible-dirham account requires a currency import declaration or a bank exchange receipt generally not more than a month old. Leave the cash in a safe over a season and the same money can only go into an ordinary account. Anyone moving money here in stages needs to treat each transfer as a documented event rather than a favour to be arranged later.

Source: Office des Changes

Renovation runs on cash, and that is where the paper trail breaks.

Medina renovation is paid largely in cash to craftsmen and suppliers, which is normal and unavoidable. The problem is that a riad's improvement costs are then undocumented, which matters both for the eventual capital-gains computation and for showing the notary what was invested. Keep signed dated receipts for every substantial payment even when the recipient does not expect to give one.

Source: community-reported

Ordinary Moroccan property listings quote in dirhams for a reason — do not let anyone quote you in euros.

A euro price on a Marrakech riad is a negotiating device, not a currency. The transaction is in dirhams, the deed is in dirhams, and the exchange-control consequences run on the dirham banking trail. A euro headline lets a seller move the price with the rate and obscures what actually has to pass through the bank. Insist on the dirham figure and the transfer mechanics from the first conversation.

Source: community-reported

Common mistakes to avoid

Funding a property purchase with cash carried in rather than a declared bank transfer.
Opening an ordinary resident account when your income comes from abroad.
Discarding exchange receipts and currency import declarations.
Paying for renovation without receipts and losing the cost base.
Assuming there is a general right to wire dirhams out of Morocco.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.