An investor loses 151,000 euros after a real estate project in Morocco

The case concerned the purchase of a property in a tourist complex in Morocco, for which a British investor had made several transfers to accounts located in Melilla. Despite the involvement of Spanish banks, the Provincial Court of Madrid ruled on February 12, 2026: national justice does not systematically protect investments made outside the borders. Since the contract was signed according to Moroccan standards for a property located in Morocco, Spanish legislation is declared inapplicable.

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The plaintiff demanded the reimbursement of his funds from Banco Santander and Cajamar, the banks managing the accounts of the operation. He argued that these entities should have required the developer to open a "guaranteed special account," as provided for by a Spanish law of 1968 to protect buyers of off-plan housing. The banks rejected this request, stating that they had no obligation to refund for a project not under Spanish jurisdiction.

According to Infobae, the court stressed that the contract explicitly stipulated that any dispute should be resolved before the Moroccan courts. The judges also noted a lack of clear evidence on the final destination of the funds and their direct link to the real estate purchase covered by Spanish law. Furthermore, the company holding the bank account did not correspond to the actual developer of the project, further strengthening the legal disengagement of the Spanish banks from the operation.

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This decision confirms an initial judgment rendered by a Madrid court and condemns the investor to pay the costs. This verdict sets an important precedent: it clarifies that the Spanish legal coverage does not automatically extend to operations abroad. Even if the investor resides in Spain or uses national banks for his transfers, legal protection depends on the location of the property and the law chosen when the contract was signed.