Spain's Exit Tax When Moving to Dubai: Thresholds, Deferral and Your Company Valuation

By Bill Anderson, FCCA, Chief Executive Officer, Assetica · Published 2026-11-13

Direct Answer: Spain charges an exit tax on unrealised share gains when a long-term resident leaves. It applies if you were Spanish tax resident for at least ten of the previous fifteen years and your shares are worth more than EUR 4 million, or you hold at least 25% of a company and that holding is worth more than EUR 1 million. The tax is based on the market value of the shares, so an independent valuation sets the figure and shows whether you are over a threshold at all.

Spain's exit tax has high thresholds, so many owners are outside it. The difficulty is knowing which side of the line you are on. For a private company, that depends on a valuation.

This guide explains the tests, the deferral rules and what the valuation has to show. It is for owners of private Spanish companies moving to the UAE.

Who the Spanish exit tax applies to

The rule is in article 95 bis of the personal income tax law. Published summaries give two tests, and you must meet both.

Residence. You were Spanish tax resident for at least ten of the fifteen tax years before you leave.
Size. Your shares and holdings are worth more than EUR 4 million in total, or you hold at least 25% of a company and that holding is worth more than EUR 1 million.

The charge covers shares and holdings in companies, including investment funds. Property you own directly is outside it.

What is taxed, and at what rate

You are treated as having realised the gain on your shares in your last year of Spanish residence. The gain is taxed at the savings income rates, which run from 19% to 30%.

Deferral depends on where you go

Moves within the EU or EEA. The tax is generally not collected unless you sell the shares or leave the EU or EEA within a set period.
Moves elsewhere. The tax is generally due. Deferral can be requested in limited cases, such as a temporary move for work.

The UAE is outside the EU and EEA, so do not assume deferral. Ask your Spanish adviser how the rules apply to your move before you set a departure date.

Where the valuation comes in

For a private company there is no share price, so the valuation decides whether a threshold is crossed and, if it is, how much tax is due.

On departure. A market value of your shares on the day you stop being resident, which is the figure the tax is calculated on.
For the Golden Visa. A report showing your own equity is worth at least AED 2 million, net of debt. Our Golden Visa valuation guide covers what it must contain.
On a later sale or restructuring. A value a buyer, a funder or a tax authority will accept.

Use one valuation for all three. We fix the valuation date, the method and the normalised earnings once, then format the result for each reader, so the figures never disagree.

The Spanish tax agency publishes the return and current rates. Our guide to moving a business from Europe to Dubai compares the exit rules across countries.

Leaving Spain for the UAE?

Tell us your departure date and what you own. At the scoping call we confirm the valuation date, the readers and the scope, then quote a fixed fee in writing.

Business valuation for Spanish owners in the UAE

Frequently Asked Questions

Who pays the Spanish exit tax?

People who were Spanish tax resident for at least ten of the previous fifteen years and whose shares are worth more than EUR 4 million in total, or who hold at least 25% of a company where that holding is worth more than EUR 1 million.

Is the Spanish exit tax deferred if I move to Dubai?

Do not assume so. Deferral is generally available for moves within the EU or EEA. For moves elsewhere the tax is generally due, with deferral on request only in limited cases. Confirm your position with a Spanish tax adviser.

What rate is the Spanish exit tax?

The deemed gain is taxed at the savings income rates, which run from 19% to 30%.

Why do I need a valuation for the Spanish exit tax?

A private company has no share price. The valuation shows whether your holding crosses the EUR 4 million or EUR 1 million threshold and, if it does, the gain the tax is charged on.

This article is general information, not Spanish or UAE tax, legal or investment advice. Tax rules, rates and thresholds change. Confirm the current position with a qualified Spanish tax adviser before you act.

Disclaimer. This article is general information about valuation practice in the UAE and is not a valuation, an opinion of value, or tax, legal or investment advice. Any figures or reference ranges are indicative and are not a quotation for any specific business. Rules, rates and the requirements of individual authorities change, so confirm the current position before relying on anything here. For your own circumstances, book a scoping call.

Speak to Assetica about Business Sale & M&A Advisory

Assetica is an independent business valuation firm in Dubai. We do not audit and we do not broker deals, so the number carries no conflict. Read more about business sale & m&a advisory, or book a scoping call. Standard reports are issued in five to seven business days.