350 Portuguese own Dubai properties

 In News, Tax havens and offshores

Some 350 Portuguese own 819 properties in the tax haven of Dubai worth €282.2 million.

This is according to the EU’s tax haven blacklist (Non-Cooperative Jurisdictions for Tax Purposes).
The annual report was published this week at a time when the EU’s central bank is trying to tighten the net tax evasion and money laundering.
In almost all of the cases, the properties were owned by private individuals and not companies.
It is estimated that overseas investment in Dubai accounts for around €146Bn with Indians, British, Pakistani, Saudi, and Iranians heading the list of real estate investors in the tax haven.
From the list, 165 properties are located in the Dubai marina area and 18 on the artificial island Palm Jumeirah.