Dubai: British-Nigerian boxer Anthony Joshua has become a Dubai resident even as some foreigners scramble to exit the United Arab Emirates, which has come under Iran's retaliatory fire in recent weeks.
According to Ghana Web, in corporate filings, Joshua lists himself as a resident of Dubai. The relocation is thought to have been motivated by the desire to escape UK tax obligations. Unlike other cities, Dubai does not charge income tax, making it attractive to high-net-worth individuals seeking to reduce their fiscal burden.
Joshua's business interests are valued at approximately $160 million, for which he would be billed around $11 million by the tax authorities in 2024. The UK's Office for Budget Responsibility (OBR) has estimated that an additional 50,000 people, mostly British citizens, could move away from the country per year.
The so-called millionaire exodus has increased in recent years, with approximately 257,000 British nationals leaving the UK in the year ending December 2024, according to the Office for National Statistics. Joshua, a two-time heavyweight champion with family roots in Nigeria, also holds Nigerian nationality.