Don Juan Carlos, VIP guest of the Emir of Qatar in a Formula 1 race in Riyadh

It’s not a secret that Don Juan Carlos keeps a excellent and close relationship with the Qatari monarchy. Proof of this is that the emeritus has shared a box with the emir Tamim bin Hamad Al Thani during a Formula 1 race that was held in Riyadh, Saudi Arabia, this Saturday.

Also read: Juan Carlos I will be taxed in the Emirates, where there is no income tax: bye bye, Spanish Treasury

He attended the same appointment Muhammad bin Salman Al-SaudCrown Prince of Saudi Arabia, as we have been able to verify in some photographs shared by the Government of Qatar on its official profile on social networks.

Sheikh Tamim bin Hamad Al Thani is the third son of Sheikh Hamad bin Jalifa Al Thaniand the second son of the Sheikha Moza bint Nasser al-Missned, Hamad’s second wife. It is estimated that the fortune of the Qatari royal family exceeds 450,000 million euros. It includes large investments in firms such as Barclays Bank, British Airways, Volkswagen, Harrods or El Corte Inglés.

His enormous fortune is of such importance that relations with other heads of state are essential. In May 2022, Philip VI and lady Joy they received the Qatari emir and his wife, the sheikha Jawaler, in the Royal Palace with all the honors and distinctions. The gestures of affection and smiles that were exchanged did not go unnoticed.

In this context, this week it has emerged that Juan Carlos I has decided transfer your tax domicile to the United Arab Emirates, where he has resided since August 2020. This means that this year he will not file the income statement in our country for the 2022 financial year, but will pay taxes from his residence in Abu Dhabi. The United Arab Emirates offers the grandfather of Leonor and Sofía a very favorable tax policy. To begin with, there is no personal income tax (personal income tax). This means that active people receive their salary tax free. Gross pay is net pay. There is also no corporate tax, except in some cases such as oil companies and foreign banks.