[Investing] Colombian living in UAE, planning to move to Spain in 1–2 years — is IBKR + VWRA still the right setup?
Hey everyone. Looking for input on my situation before I start investing.
My profile:
• Colombian citizen, resident in UAE (\~2 years)
• Income in AED (USD-pegged, no income tax in UAE)
• Planning to relocate to Spain within 1–2 years
• Monthly investment budget: \~$480 USD/month
• Starting from zero — no brokerage account yet
What I’m planning:
Open an IBKR account now from UAE and start monthly DCA into VWRA (Vanguard FTSE All-World UCITS, Ireland-domiciled, accumulating). The Ireland domicile seemed like the right call to avoid the 30% US withholding on dividends.
My concerns about the Spain move:
1. Does opening IBKR in UAE and then changing residency to Spain create any complications with the account or tax reporting?
2. Is VWRA still the optimal ETF once I’m a Spanish tax resident, or should I be looking at something else from day one?
3. Spain’s Modelo 720 — does an IBKR account trigger this obligation? At $480/month I won’t hit €50K for a while, but worth knowing.
4. Are there any exit tax implications when leaving UAE? (I assume none since UAE has no capital gains tax, but want to confirm)
5. Any broker that would be more seamless for the UAE → Spain transition?
Not asking for professional financial advice — just community experience from people who’ve navigated similar expat setups.
Thanks