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DUBAI ABANDONED LUXURY CARS – Expats Fear Being Jailed Because of Overdue Debts
Abandoned luxury cars left at airports across the United Arab Emirates may not entirely be the fault of expats escaping tough debt laws.
Recent reports have highlighted high-end sports cars gathering dust at Dubai and Abu Dhabi airports from panicked expats fleeing the country to avoid prison sentences for money owed.
Images of a limited edition Ferrari Enzo, worth more than £1 million, allegedly abandoned in Dubai by a British expat have been circulated widely. He was believed to have defaulted on a loan for the supercar and fled the city to escape possible imprisonment.
Under Sharia law which is observed across the Middle East, non-payment of debt is a criminal offence. As the UAE has no bankruptcy laws, there is no protection for those slipping into debt, even accidentally.
There have been cases of foreigners being prevented from leaving the Emirates after being blacklisted for simply missing a credit card payment or bouncing a cheque.
But the spate of abandoned luxury cars – of which more than 3,000 were discovered last year – is not an exclusive tactic of expats on the run. One British expat said: “It’s not just expats to blame for the irresponsible act of leaving expensive cars behind as they flee their debts, but many locals too. The aftermath of the global financial crisis affected people from all walks of life, not just foreign workers.
“Many took out big loans to finance flashy cars to keep up with their peers. But when things slowed down they have struggled to make repayments and have fallen into debt. Foreigners and locals have been caught out alike.” A recent tranche of cars impounded by the Municipality of Abu Dhabi included a mix of foreign and Emirati owners.
A chief drawback of the abandoned cars is that they take up much-needed spaces at airport car parks. On the plus side, many of these luxury cars are auctioned by the police at bargain prices. Once a vehicle is suspected of being abandoned, local government inspectors will issue a warning notice. If the owner fails to respond within 15 days the car will be taken to a police scrapyard where it can still be reclaimed for a small fee. dubai emirates “united arab emirates” UAE law car “car rental” supercar “supercar rental” “dubai supercar” yacht investment invest “made in italy” millionaire billionaire debt crisis bubble economy rich wealthy elite “super rich” luxury society 2015 2016 travel expat property “real estate” monaco london bank loan “credit card” wealth asset lifestyle auto exotic “airport parking” “savings account” savings ferrari bmw mercedes lamborghini “elite nwo agenda” debt collection loan shark auction range rover 5 star hotel arab invasion gumball rally 1% 99% payday loan alex jones infowars david icke lindsey williams louis farrakhan jim rogers marc faber prediction china russia f1 bugatti top gear jeremy clarkson gtboard speedracer38 frikk gerald celente anonymous
Most impounded vehicles however are never reclaimed, with hundreds of cars auctioned off each year. While the global economic slowdown has dented growth within the Gulf states, the UAE is still one of the region’s strongest economies. These high-performance cars have been left abandoned at the airport by expats who fear being jailed because they are in debt. Sign of the times: Thousands of high-performance cars have been left abandoned at Dubai airport by expats who fear being jailed because they are in debt. This is a Ferrari Enzo worth £1million Dumped: Instead of facing possible jail sentences under the strict debt laws in Dubai, many Brits have decided to return home, without even bothering to sell on the cars. This is a Jaguar XJ220 worth £200,000
Instead of facing possible jail sentences under the strict debt laws in Dubai, the Brits have decided to return home, without even bothering to sell on the cars.
Luxury cars which have been left at the airport with the keys in the ignitions include Mercedes, Audi’s and Jaguars Dubai is governed by strict Sharia laws which can see people sent to prison for being in debt.
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