🇪🇸Buying Dubai Property from Spain

Spanish nationals can freely purchase freehold property in Dubai's designated zones with no UAE-side restrictions. There are no foreign exchange controls in Spain for outward investment. However, Spanish tax residents must file the Modelo 720 to declare foreign assets exceeding EUR 50,000 -- including overseas real estate. While the European Court of Justice struck down the disproportionate fines in 2022, the reporting obligation itself remains mandatory.