Mar 26, 2024
Financial Literacy

Maximise Your Potential Investment Returns in the UAE: Say Goodbye to Capital Gains Tax with Nemo


f you've landed in the UAE for work or residence, you're probably already enjoying the perk of no income tax. But did you know there's another tax advantage waiting for you when you invest locally? Say hello to zero capital gains tax when you invest with a UAE-based investment app like Nemo.

Here's the lowdown: Many expats continue to use apps from their home countries, unaware that they could be missing out on substantial gains due to capital gains tax. Picture this: You make a tidy profit on your investments, only to understand that a percentage needs to go to your home country's tax authorities, leaving you with less in your pocket.

But fear not, because there's a smarter way to invest. By partnering with a regulated investment app like Nemo right here in the UAE, you can invest with the benefit of not being subjected to capital gains taxes. That means more money stays in your investment portfolio.

Now, let's address the nitty-gritty of taxes, because we believe in transparency and making informed decisions.

For those eyeing US-based stocks and ETFs traded on Nemo, you may notice a 30% US tax on dividends. This deduction applies universally and isn't specific to Nemo clients. It's simply the standard procedure for dividends, and it doesn't touch your profits from successful trades.

However, we understand that tax regulations can resemble a maze at times. That's why we strongly recommend consulting with a financial advisor to navigate your specific circumstances. After all, personalised advice tailored to your situation is the key to financial success.

And remember, tax laws are about as stable as a sandcastle at high tide. Stay informed and keep your finger on the pulse of any updates or changes that may affect your investments.

In conclusion, when it comes to growing your wealth in the UAE, choosing the right investment app can make all the difference. With Nemo, not only do you gain access to the hottest investment opportunities, but UAE residents also can take advantage of being exempt from capital gains tax. It's a win-win!

So, what are you waiting for? Take the opportunity to supercharge your investments and embark on a tax-free journey with Nemo today.

Happy investing!

Nick Scott

Nick Scott, Senior VP of Product & Marketing at Nemo, leads with a passion for guiding customers towards investment opportunities aligned with their goals and interests. With a career rooted in the retail brokerage sector, Nick's experience spans notable firms including LMAX, GAIN Capital, and StoneX. A graduate of St Andrew University in Scotland with a Master's Degree in Business Management, Nick finds balance through staying active and indulging his love for sports outside of work.