Golfer Rory McIlroy to reduce tax bill by setting up home in Dubai
Rory McIlroy, the world’s number one golfer has set up home in Dubai, according to a report in the Sunday Times.
The Northern Irishman, who has a long association with Dubai throughout his professional career, has filed documents in Ireland that state his primary residence is now in Dubai.
During his recent legal battle with his former agent, Horizon Sports Management, an address in Monaco was listed as his primary residence. The Sunday Times reports, however, that documents filed in a trademark application in Ireland show his new place of residence to be on Palm Jumeirah.
According to the report, the golfer intends to pay 12.5 percent Irish corporate tax rate on royalty payments, but earn his appearance fees, winnings and endorsements from sponsors such as Nike, Bose and Omega, tax free.
Dubai has been almost like a second home for McIlory during his playing career, with many strong ties to the emirate over the past eight years.
The Jumeriah Group became McIlroy’s first sponsors when he turned pro in 2007, and his first tournament win as a professional was the Dubai Desert Classic in 2009. More recently, McIlory managed to convince Dubai Duty Free to come on board as title sponsors of the Irish Open, which will take place in his hometown course of Royal County Down later this year.
