Gift tax is payable in most countries. Furthermore, depending on the country and the degree of relationship, gift tax may entail significant costs. In some countries, when transferring property by way of a gift in absence of close relationships , gift tax may constitute up to 50% of the value of qualifying asset.
In Ras Al Khaimah both non-residents and residents of the country enjoy tax free status with respect to individuals.
Gift tax is not charged here irrespective of the value of the asset, type of asset, its location and degree of relationship.
