Investing in Dubai
from Spain.
Everything a Spanish investor needs to know before committing capital to Dubai real estate. Tax implications, capital transfer, structures, Golden Visa, and the honest risks.
Why is Spanish money moving to Dubai, and how does the 2007 Spain-UAE treaty work?Free PDF, 28 pages, in Spanish
Why is Spanish money moving to Dubai, and how does the 2007 Spain-UAE treaty work?Free PDF, 28 pages, in Spanish
Why Spanish investors are looking at Dubai.
Spain’s tax environment has become increasingly challenging for high-net-worth individuals. Capital gains tax between 19% and 30% since 2025, an exit tax triggered when you leave Spain with a portfolio above certain thresholds, and automatic exchange of financial account information (CRS) with over 100 countries including UAE: these are real structural pressures on Spanish investor capital, and the reason so many look toward Dubai.
Dubai offers a legal, OECD-compliant alternative. No UAE capital gains tax on property and no UAE income tax on rental income, although Spanish residents still declare both in Spain. Full freehold ownership for foreigners. Residency through property investment. An AED pegged to USD since 1997.
The Spanish investor profile at M&M is typically someone who already has real estate or financial assets in Spain, is thinking about fiscal residency change, and wants to understand whether Dubai investment makes sense as a diversification or relocation vehicle, or both.
Read the full case before you decide.
The guide for Spanish investors sets out what is moving their capital to Dubai and what it buys there.
Spain vs UAE:
the tax reality.
A direct comparison of the key tax implications for a Spanish investor holding real estate in each jurisdiction. Always consult a qualified Spanish tax advisor before making any decisions.
| Tax / Obligation | 🇪🇸 Spain | 🇦🇪 UAE / Dubai |
|---|---|---|
| Capital gains tax on property sale | 19 to 30% Significant | 0% Zero |
| Rental income tax | 19 to 47% (IRPF) Progressive | 0% Zero |
| Annual property / wealth tax | IBI + Patrimonio + solidarity tax (up to 3.5%) Annual cost | Service charge only Predictable |
| Exit tax (Impuesto de Salida) | On shares and holdings >€4M Complex | Not applicable N/A |
| CRS / automatic reporting | Spain declared Transparent | UAE reports accounts to Spain Transparent |
| Inheritance / estate | Up to 34% (varies by region) Variable | No inheritance tax Zero |
This table is for informational purposes only and does not constitute tax advice. Tax treatment depends on individual circumstances, residency status, and changes in law. Always consult a qualified Spanish tax advisor (asesor fiscal) before making any investment or residency decision.
The guide sets out the tax for Spanish buyers, step by step.
How the rent and the gain are taxed, and what you report at home.
How Spanish investors buy in Dubai.
Five steps from first conversation to ownership. No residency requirement and no local partner.
objective
correctly
to UAE
Oqood registration
Spain (720)
Free investor guide
Why Spanish money is choosing Dubai.
What Spain's largest private fortunes are doing right now, the forces pushing them, and what Dubai offers in 2026. 28 pages, free, in Spanish.
Inside the guide
- What the solidarity and wealth taxes now take from a large Spanish estate
- How rent is taxed and capped in Spain, set against Dubai
- Dubai's tax position for individuals, the 10-year Golden Visa and the dollar peg
- How the 2007 Spain-UAE treaty works, and what leaving Spanish tax residence requires
- Yields, currency and the timeline for a clean move
Free PDF, 28 pages, in Spanish
Moving money from Spain to Dubai.
Transferring capital from Spain to UAE is a legal, standard international wire transfer. There is no restriction on moving euros to UAE, it is not a capital control jurisdiction.
Most Spanish banks process international wires to UAE banks without issue. You will need to declare the purpose of the transfer (property purchase) and provide the developer’s escrow account details. Your bank may ask for supporting documentation including the SPA.
Some clients prefer to use international transfer services for better exchange rates on the EUR to AED conversion. The AED is pegged to USD at 3.6725, so the real conversion is EUR → USD → AED, with no float risk on the AED side.
Modelo 720 requires annual declaration of foreign assets above €50,000. Your Dubai property and any UAE bank accounts above this threshold must be declared by March 31 each year.
Golden Visa and fiscal residency.
A purchase of AED 2M or more in your own name qualifies you to apply for the UAE Golden Visa, a renewable 10-year visa issued by DLD. It is a UAE residence permit; on its own, it leaves the place where you pay your taxes unchanged.
To change fiscal residency from Spain to the UAE, Spanish law asks you to show with facts that you have stopped being resident: more than 183 days a year outside Spain and the centre of your main economic interests outside it. The treaty adds its own nationality rule, so the exit is decided under Spanish law.
The exit tax calculation must be done before you formally establish non-residency. This is a critical step that requires professional Spanish tax advice. M&M can introduce you to the right advisors but cannot provide this legal guidance directly.
We advise Spanish investors in Spanish.
Every advisor managing Spanish client cases at M&M speaks Spanish as a working language. We understand the legal, fiscal, and cultural context of the Spanish investor, not just the Dubai market.
Marcos LopezAssociateEnglish · Spanish
Bring your questions to an advisor.
We work with Spanish investors from the first call to the keys. Book a call with an advisor, or start with the guide.
