There are many legitimate reasons for holding real estate abroad, but there are also concerns that offshore real
estate, in some cases, may be used for money laundering, tax evasion, escaping international sanctions, or other
financial crimes. (source: Global Tax Evasion 2024 report)
After Cyprus, Slovaks own the most flats and houses in Dubai of all EU nations in proportion to the size of the economy.
Slovaks have bought properties worth almost half a billion dollars in Dubai, which is 0.44 percent of Slovakia’s GDP, the Denník N daily writes. It is the second highest share in the entire EU, the European Tax Observatory (ETO) map shows.
The map is part of the Global Tax Evasion 2024 report.
Buying real estate in Dubai can be profitable, but it is often associated with trying to avoid paying taxes in one's home country.
In recent years, the interest of Slovaks in buying real estate abroad has been increasing. They invest in real estate in popular holiday destinations such as Italy, Croatia, Spain and Egypt. They are also increasingly interested in countries outside the EU, such as Indonesia, the UAE and Montenegro.
One of the reasons is higher inflation in Slovakia, experts approached by the daily say. Relatively stable prices, the political situation and no taxes are other reasons why Dubai attracts Slovak people
