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  • Overseas Investing

    Holiday Home in UAE

    Hello Everyone

    My partner and I have a small portfolio of 4 rental properties and our own home. Our day jobs are well paid so have invested in property in both England and Scotland

    We are considering purchasing property in the UAE, specifically Abu Dhabi, which we would rent out airbnb style for 8-10 months of the year and live there the other 2 months of the year.

    Looking for any advice whatsoever on if the above is possible/advisable, tips or pointers,pitfalls etc

    Really only at the very beginning of the journey should we go ahead with it so all comments welcome

    Michael

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    Suggest do not touch with bargepole - volatile political environment/dictatorship and little recourse if anything goes pear shaped - plus currency fluctuation issues.

    AED moves "in sympathy" with USD

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    Built on sand? I would suggest renting in UAE because you have a solid income from your portfolio. When the next recession hits big time you would be glad, I remember the UAE, Dubai, Cape Verde, Spain etc. in 2008-9

    IMHO Tim

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    seems to me the issue is that UAE is based on a no tax pricing model. But as you are UK tax resident you need to declare this income in the UK. So you pay extra to secure a property business in a no tax environment only to pay tax. Are you not going to over pay?

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    I’ve been here for over 6 years now. Yields can be strong but beware of service charges. Also, if doing SA be very sure it is allowed within the leasehold as some buildings are quite strict about who is coming and going. Personally I wouldn’t do this especially from the UK. I, like many others rent here, for various reasons, so would advise some serious research before proceeding.

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    Don't even go down that route. The chances of falling foul of local rules is high . and remember they throw you in prison straight away with out asking questions - this can be for months on end. any local you fall foul of just needs to make a compliant and in prison you go regardless of those right or wrong. Stay well clear unless you have experience in dealing in the middle east and even then some get it wrong.

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