By Bill Anderson, FCCA, Chief Executive Officer, Assetica — 2026-07-08
Relocating from Europe to Dubai can trigger an exit tax on your shareholding: Germany's Wegzugsteuer, France's exit tax and similar rules across the EU deem a disposal at market value when you move your tax residence. What that means for your valuation, the AED 2 million Golden Visa threshold, and keeping your home-country and UAE numbers consistent.
Several EU countries treat emigration of a significant shareholder as a deemed disposal. Germany's Wegzugsteuer taxes the unrealised gain on a substantial holding as if the shares were sold on departure. France's exit tax captures latent gains on large shareholdings, with deferral available in some cases. The Netherlands, Spain, Austria and others operate conservation or exit levies with their own thresholds. The common thread is that the market value of your shareholding on the departure date determines the charge, so a guessed or book value invites the authority to substitute its own figure. An independent, IVS-compliant valuation dated to the move makes the number defensible.
The Golden Visa business route requires an independent valuation confirming your shareholding is worth at least AED 2 million net of debt, roughly EUR 500,000, formatted for the GDRFA. This is a separate report from the exit-tax valuation: it isolates your specific stake and must come from an independent firm working to recognised standards. A local accountant letter does not satisfy the GDRFA, just as a UAE visa report does not satisfy your European tax authority. Most owners need both, and the risk is divergence between the two numbers for the same company.
Most EU states have a double tax treaty with the UAE, which affects how income and future gains are treated once you are UAE-resident. Owners who keep the European business and manage it from Dubai still face the exit charge on departure in the countries that levy one, and any later restructuring into a UAE or offshore holding company must be priced at a market value both the European authority and the UAE Federal Tax Authority can test.
The evidence set spans both sides: local statutory 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 the relevant European market) 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 from its Dubai and London offices, recognised by European tax advisors and the GDRFA.
Do I pay an exit tax when I leave Europe for Dubai?
Many EU countries levy an exit tax on significant shareholders who move their tax residence out, including Germany's Wegzugsteuer and France's exit tax. These are deemed disposals at market value, so the value of your shareholding on the departure date drives the charge. The specific rules, thresholds and any deferral depend on your country. A dated, IVS-compliant valuation makes the figure defensible.
Is a local 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. A local accountant's letter serves the home-country 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 euros?
Roughly EUR 500,000 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.
Which valuation standard applies in Europe?
The International Valuation Standards (IVS) are the recognised framework across Europe, and Assetica prepares to IVS and RICS standards. A standards-based valuation is credible to your European tax authority, to banks, and to the UAE GDRFA, which is exactly what a cross-border relocation needs.