Wealthy Moroccans who own luxury properties in Paris are under scrutiny following an extensive audit by the General Directorate for Competition, Consumption, and Fraud Control (DGCCRF) in France.
The audit, conducted across several upscale districts in the western part of the city, sought to verify the status of high-value properties and ensure compliance with anti-money laundering and terrorism financing laws.
The audit focused on properties that have been “frozen” for years, either unused for residence or rental, and identified several owners who had failed to declare these assets to Moroccan authorities, including the Office of Foreign Exchange and tax authorities. Many of these individuals also maintain active business and investment interests in Morocco.
The identities of the undeclared property owners surfaced during the audit, which primarily targeted luxury real estate linked to money laundering and terrorist financing activities.
The investigation also looked into assets owned by Russian businessmen under European sanctions due to the ongoing conflict between Russia and Ukraine.
According to sources familiar with the audit, these property owners used real estate agencies to manage maintenance costs and pay annual bills, while leaving the properties idle for years. The findings raised suspicions about potential financial misconduct.
The audit’s results will be made available to Moroccan authorities for further verification of assets held abroad by citizens, especially after the expiration of the voluntary disclosure period, which ends tomorrow.
The 2024 Finance Law allows Moroccans with undeclared assets abroad, including real estate and financial holdings, to regularize their situation without facing penalties. However, the 2025 Finance Law does not include provisions for extending this program, despite its benefits, which include immunity from legal or administrative action.
The sources confirmed that Moroccan authorities are set to intensify efforts next year to track undeclared foreign assets through stronger cooperation with European counterparts, including agencies in France, Italy, and Spain.
The post Wealthy Moroccans under scrutiny for undeclared luxury properties in France appeared first on HESPRESS English – Morocco News.
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