If you’re a British expatriate living and working in the Middle or Far East, it’s crucial to consider your next steps, even if you’re years away from retirement.
Retiring where you are may not be an option, particularly in places like Saudi Arabia or the United Arab Emirates (UAE), where work visas expire at 60 or 65. With no pensioner visas available and a limited time in which to leave the country, you’ll need to act quickly once you approach this age. For other expatriates in the region, retiring closer to home is something they’ve always planned to do.
Whatever your reasons for returning to Europe, you’ll need to be aware of the tax and financial implications. By taking specialist cross-border advice now, you can take steps to make your move as seamless and tax-efficient as possible, wherever you go.Tax considerations
Living in Dubai, Abu Dhabi, elsewhere in the UAE, or in Oman, Saudi Arabia, Kuwait and Qatar, you’re subject to minimal taxation. The same is true in Hong Kong, Singapore and other parts of the Far East.
You’ll need to be prepared for higher tax rates when you return to Europe. However, there are opportunities to limit your exposure and take advantage of tax-efficient arrangements in your new country. What you do before you move can make a real difference to your tax position, so it’s crucial to seek advice early.How we can help
Blevins Franks has been providing international tax and wealth management advice to British nationals living in Europe for over 40 years. With local offices throughout France, Spain, Portugal, Cyprus, Malta, Monaco and the UK, we offer cross-border expertise on tax, estate planning, pensions and investment management.
Whether you’re planning on moving to Mediterranean Europe or returning to the UK, speak to us before you move. We can help you put in place the most suitable tax planning arrangements for your new home, tailor-made for you.
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