By Bill Anderson, FCCA, Chief Executive Officer, Assetica — 2026-07-08
Australian owners relocating to Dubai face valuation at three points: CGT event I1 (deemed disposal of company shares at market value on ceasing Australian tax residency), the AED 2 million Golden Visa threshold, and selling the business. What the ATO requires and how to keep the Australian and UAE numbers consistent.
When you cease to be an Australian tax resident, CGT event I1 happens: the ATO treats you as having disposed of each CGT asset at market value at the moment you stop being a resident, and taxes the gain. Shares in a private Australian company are CGT assets, so their market value on your departure date determines the tax. Taxable Australian property such as real estate is excluded. You can elect to disregard the deemed gain and be taxed on actual sale instead, but that keeps those assets in the Australian CGT system. Either way the decision and the tax rest on a defensible market valuation.
The exit charge only bites once you have genuinely ceased Australian tax residency, which the ATO assesses through the residency tests covering where you reside, your domicile, and the pattern of your life and assets. Relocating to Dubai for zero income tax only works if the residency break is real and documented. A clean valuation dated to the cessation date supports the position, evidencing the market value that triggered or was deferred under CGT event I1 and sitting alongside the other proof that your tax home genuinely moved.
The Golden Visa business route requires an independent valuation confirming your shareholding is worth at least AED 2 million net of debt, roughly AUD 800,000, formatted for the GDRFA. This is a separate report from the ATO valuation: it isolates your specific stake and must come from an independent firm working to recognised standards. An Australian accountant's letter does not satisfy the GDRFA, just as a UAE visa report does not satisfy the ATO. Most owners need both, built from one consistent underlying value so the two numbers agree.
The evidence set spans both countries: Australian financial statements, the shareholding and shareholders agreement, management accounts and bank statements, and the UAE entity's licence once it exists. Valuers apply the income approach (DCF), the market approach (comparable multiples adjusted for Australian conditions) and the asset-based approach as a floor, reconciling them into a defensible range. For the Golden Visa the report isolates your specific stake against the AED 2 million threshold. Assetica prepares these to RICS and IVS standards, recognised by Australian tax advisors and the GDRFA.
Do I pay CGT in Australia when I move to Dubai?
Ceasing Australian tax residency triggers CGT event I1: the ATO deems you to have disposed of your CGT assets, including private company shares, at market value on your departure date and taxes the gain. Taxable Australian property such as real estate is excluded. You can elect to defer the gain until actual sale, but that keeps those assets in the Australian CGT net. Either way you need a defensible market valuation of the business.
Is an Australian accountant's valuation accepted for the UAE Golden Visa?
No. The GDRFA expects an independent valuation from a recognised valuation firm, isolating your specific shareholding net of debt and formatted for the UAE. An Australian accountant's letter serves the ATO side but does not satisfy the GDRFA. Most relocating owners need both reports, built from one consistent underlying value.
How much is the AED 2 million Golden Visa threshold in Australian dollars?
Roughly AUD 800,000 at current exchange rates (AED 2 million is about USD 545,000). The threshold applies to your own equity in the business net of debt, not the company's total value or its revenue.
How long does the valuation take and what does it need?
Typically 5 to 7 business days from receiving your Australian financial statements, shareholding details, management accounts and bank statements, plus the UAE licence if the entity is set up. Expedited 2 to 3 day delivery is available for visa or transaction deadlines.