Tax dodge of the week: emigrate to the United Arab Emirates
Tax is one of the biggest reasons for moving abroad, says Jessica Bown in The Sunday Times, and no wonder: the latest survey of personal taxation in “expatriate hotspots” by consultant Mercer shows that the average family can pay less tax in more than a dozen countries.
The “ultimate destination” for those seeking to slash tax bills and boost savings is the United Arab Emirates, where there are no personal income taxes and the average family takes home 95% of their income.
Dubai’s “bling-bling developments” may attract sniggers, but aside from zero taxes, there are good reasons why 100,000-plus British expats have moved there, says John Arlidge in The Daily Telegraph.
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It is sunny 330 days of the year, the “army of Asian labourers provides service 24 hours a day”, there’s no terrorism, virtually no crime and the schools are good.
One downside is that property prices are rising fast thanks to a recent law allowing the freehold purchase of properties by foreigners in certain areas.
For those put off by Dubai‘s high temperatures, Hong Kong came second in Mercer‘s rankings. Here, couples with two children take home 91% of their annual income.
