Buying property in UAE for crypto>fiat>property as a UK resident, potential problems?

[Scaner78]

Hello everyone
Will I be fined or questioned, or prosecuted by HMRC, as a foreigner (45 years old) from a third country who has already lived three years in the UK, as a resident (BRP, EU citizen spouse, if I'll buy a property for 1M USD in UAE? Taxes were not paid from the money in any country, and will be transferred as cash>crypto>cash>property. Ready to pay for a consultation if needed

 

[TheCryptoAnt]

UAE property registry aint public, and any docs can only be obtained upon permission of the owner of the property

 

[Bill D]

UAE property registry aint public, and any docs can only be obtained upon permission of the owner of the property

https://www.coindesk.com/policy/2022/08/08/uae-to-clamp-down-on-crypto-real-estate-money-laundering/
But payment still work, if all clean cash can be an efficient way to avoid bank FX fees, did someone try it ?

 

[TheCryptoAnt]

https://www.coindesk.com/policy/2022/08/08/uae-to-clamp-down-on-crypto-real-estate-money-laundering/
But payment still work, if all clean cash can be an efficient way to avoid bank FX fees, did someone try it ?

yeah I'm assuming his only 'crime' is the taxes not paid to the UK. So far the money dont come from weird sources he good.

 

[Scaner78]

Thanks for the replies guys
Just wanted to clarify, I know exactly how to buy, without any problems. My question is more about future consequences due to my intention to pass the naturalisation procedure in the UK and stay to live. What will be if once I sell the abovementioned asset and transfer money to my UK bank account? Will they start asking and checking me, will they count that I started live in the country when I was 40+, and still taxes from exact money wasn't paid anywhere.

 

[Au999]

Thanks for the replies guys
Just wanted to clarify, I know exactly how to buy, without any problems. My question is more about future consequences due to my intention to pass the naturalisation procedure in the UK and stay to live. What will be if once I sell the abovementioned asset and transfer money to my UK bank account? Will they start asking and checking me, will they count that I started live in the country when I was 40+, and still taxes from exact money wasn't paid anywhere.

HMRC may not know or find out immediately or ever but what you're proposing is tax evasion as opposed to avoidance

 

[FantomOffshore]

UAE property registry aint public, and any docs can only be obtained upon permission of the owner of the property

I read recently Dubai shared all property ownership stats of Dutch people with Dutch authorities.