Is it as straightforward as that?? What about charges etc.? Also changing it back to GBP's from the Dirham will mean losing money too?
I am going to be doing the same for my rental income I have sitting in the Dubai office as I cannot get out to open a bank account in Dubai.
Let me know how you get on with the transferring of your funds back to your UK account.

Thanks.

Harki, this is where u need to thread carefully. The currency market is a place where you could lose upto 5% of that chunk just in transfers. I suggest do it through a profesional money transfer agency rather than any bank. The one i can think of is hifx Foreign Exchange Specialists | HiFX plc thats their website. They don't have any fees on transfers and generally work on low margins and high turnover.

But, my suggestion would be to keep the money in Dubai for now and convert it into dollars at a fixed rate and deposit it in a high income account for 2 years, that is if you don't need the cash. At the moment dirhams and dollars are very low to the pound, converting into sterling will not only wipe your profit out but it wouldn't surprise me if it makes you a loss from the time you invested your money. Further, you need to account for cgt with the inland revenue and if your property was just in your name you have the benefit of 8500+ or 17k+ if in joint names,with your wife. Anything above that is taxed at 40%, so that will bite into your profits too. Goodluck.

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BE HUMBLE OR YOU'LL STUMBLE

Please give me a quote for your studio if you have reached to a conclusion.

well you can transfer the money through bank to bank transfer in which bank ur aco****s if u ahve account in barclys u can get a transfer

Hey! If i dont have a resident visa , is that possible in dubai to open a bank account? as we get rental cheques in local