Rory McIlroy Now A Resident of Tax Haven Dubai
Rory McIlroy will keep a larger portion of the estimated $24 million he earns per year thanks to establishing residency in tax-haven Dubai, part of the United Arab Emirates.
According to a report in the Sunday Times of London, McIlroy joins international celebrities and athletes whose official residences are on the artificial island of Palm Jumeirah, which was designed to resemble a palm tree from above. The UAE's seven emirates do not tax personal income.
The Times reports that documents from McIlroy’s courtroom battle with Horizon Sports Management, his former agent, named Monaco as his primary residence. Palm Jumeirah is listed as his residence on a recent trademark application made in Ireland.
The four-time major champion seems primed for a huge earnings year, even without matching last season's two majors. He was recently named the face of EA Sports' PGA Tour golf game and is one of NIKE's leading pitchmen.
McIlroy has a strong connection to Dubai, and not just from the Omega watch commercial you’ve probably seen. He won the Dubai Desert Classic in 2009, the DP World Tour Championship in 2012 and the Omega Dubai Desert Classic earlier this year.
He also revealed recently that he passes the time each year during the Ireland to Dubai flight by jotting down his goals for the year on the back of his boarding pass. Next year's trip may be a lot shorter.