Dubai Fact-File Part 7:
Business Owner Welfare and Lifestyle

7.7 Dubai Individual or Business Leaving Dubai

Any savings accumulated whilst living and working in Dubai as a legal resident of the country can usually be deposited back to a bank account in a person’s native country free of tax, provided that the person was a bona fide tax resident of Dubai. Any money generated from the sale of assets that were owned prior to taking up tax residency in Dubai may be liable to Capital Gains Tax (CGT) in the individual’s native country which would be payable in the first year of their return home.

Care should be taken with regard to any money that has been deposited in a bank account in a person’s home country during the time they were resident in Dubai and if there is any property that was owned before taking up residency in Dubai, this may be liable to CGT if sold.

For this reason, any assets owned in a person’s home country during the time they lived and worked in Dubai as a tax resident should ideally have been disposed of prior to becoming resident, in order to avoid raising red flags with the tax authorities in the country of origin regarding the permanence (or lack thereof!) of the arrangement.

There should be no legacy tax issues when leaving Dubai but any debts should be cleared in full as it is a criminal offence to have unpaid debts in the Emirate.

Introductory Guides

Dubai Artist Tax Guide

Dubai Contractor Tax Guide

Dubai Entrepreneur Tax Guide

Dubai Professional Tax Guide

Dubai Small Business Tax Guide

Dubai Sportsperson / Entertainer Tax Guide

Fact-File

Part 1: Dubai Business Formation for Individuals

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