Dubai-based expat refinancing Australian commercial property

The situation

The following is an anonymised composite reflecting a recurring pattern, not a specific settled deal. An Australian citizen who relocated to Dubai several years ago holds a commercial property in Australia through a company structure, financed by a facility that is now approaching its maturity date. Their income is now earned tax-free in the UAE, and they want to refinance to a longer-term facility without returning to Australia to arrange it in person.

Why it's hard

Some Australian bank lenders apply cautious policy toward borrowers earning income in jurisdictions with different tax treatment, and verifying foreign income earned in a jurisdiction like the UAE, where there is no local income tax and different documentation norms apply, takes more work than a standard payslip and tax return review. Coordinating a refinance entirely remotely, without the borrower returning to Australia, also adds a logistical layer around signing and identity verification most facilities need to accommodate.

How it can be structured

A private first mortgage refinance through a lender experienced with expat borrowers in tax-free jurisdictions is the standard path, verifying UAE income through employment contracts, bank statements and, where available, an employer confirmation letter, rather than relying on a tax return that may not exist in the way an Australian equivalent would; the exit is ordinary servicing from the borrower's overseas income and, if applicable, the property's own rental income. Remote execution of loan documents, verified through a lawyer or notary in the borrower's country of residence, is a standard accommodation most lenders in this space can arrange, though it should be discussed upfront rather than assumed. Because the citizen is Australian, FIRB approval is not required for this refinance, simplifying the process relative to a genuinely foreign purchaser.

Because UAE employment income is typically tax-free and documented differently to an Australian payslip and tax return, lenders experienced with this borrower profile will generally rely on a combination of the employment contract, an employer confirmation letter and consistent salary credits into a verifiable bank account, applying an appropriate conservative buffer to account for the different verification standard. Where the property's own rental income also contributes to serviceability, providing an updated market rent appraisal alongside the existing lease, if any, strengthens the file beyond relying on overseas income alone. Some lenders require the borrower's identity and signature to be verified through an apostille or notarisation process recognised by both Australian and UAE authorities, which can add a few days to the documentation timeline if not anticipated early. Borrowers in this position should also confirm with their accountant how the refinance and any change in the property's use or income might interact with their tax position in both jurisdictions, since cross-border tax treatment is a specialised area outside the scope of the finance itself.

What it typically costs

Pricing reflects the additional verification required for overseas, tax-free income and the remote execution arrangements, generally somewhat above a standard domestic refinance, quoted on enquiry once a lender has reviewed the borrower's income and the property. Costs are otherwise consistent with standard commercial property refinance norms.

Timeline

1. Same day — scoping call confirming residency, income and the existing facility's maturity date.
2. 5–10 business days — income verification and document collection from overseas.
3. 10–15 business days — lender matching and credit approval.
4. 5–10 business days — settlement, with documents executed remotely.

Questions we'd ask you

1. How is your current income structured and documented in the UAE?
2. When does your existing Australian facility mature, and what are its current terms?
3. Is the property held in your personal name, a company, or a trust?
4. Can you arrange document execution through a lawyer or notary in Dubai?
5. Do you plan to remain based overseas long-term, or is a return to Australia anticipated?

Related

Foreign investor loans · Private first mortgages · Australian expats · Refinance