Should I declare an apartment in Dubai if i'm not a resident

When it comes to investing in real estate abroad, the question of declaring real estate assets is often at the forefront of investors' concerns. Particularly for individuals considering buying an apartment in Dubai, it is essential to understand the tax obligations that come with it. In this article, we will take a closer look at the question Should I declare an apartment in Dubai? and provide essential information to help investors make informed decisions. 1. Declaration of Foreign Real Estate: As the owner of an apartment in Dubai, it is imperative to understand that most countries require the declaration of real estate assets held abroad. This typically includes declaring the property to the competent tax authorities in your country of residence. 2. Tax Implications: While you must declare your apartment in Dubai, it does not necessarily mean that you will be subject to additional taxation on your income. In fact, in most countries, income from renting out a property abroad is not subject to double taxation. However, you will still need to declare this income in your country of residence, but it may be exempt from tax or eligible for tax credits under double taxation agreements. 3. Double Taxation Agreements: Many countries, including France, have signed double taxation agreements with Dubai. This means that income from renting out an apartment in Dubai will not be subject to double taxation. In other words, even though you must declare your apartment in Dubai, it will not result in taxation on your income. 4. Professional Advice: It is highly recommended to consult with a tax professional or financial advisor to obtain personalized advice on how to properly declare your apartment in Dubai and ensure compliance with local and international tax laws. In conclusion, the answer to the question Should I declare an apartment in Dubai? is yes. However, this should not necessarily concern you regarding potential additional tax implications. By understanding the tax obligations and seeking professional advice, investors can effectively manage their property in Dubai while remaining compliant with applicable tax laws.