Britons in the UAE watch nervously as Brexit threatens their long-term plans

Brexit is persuading more Britons to move to the UAE and has thrown existing residents’ retirement plans into chaos.

The UK’s departure from the EU, mandated in the 2016 referendum, is in turmoil after parliamentarians rejected the government’s proposed withdrawal deal in what was the largest defeat for an administration in British political history.

The uncertainty is causing high anxiety among many of the estimated 120,000 British people in the UAE, although many have also gained from the pound weakening against the dirham.

Denzil Coulson, originally from South Africa, moved to the UK in the late 1990s and became a British citizen a decade ago. His wife, Amanda, received her UK passport a few years later.

They have two children and believed UK citizenship would allow them to retire to Spain or France when they retired. But ending free movement from EU states is one of the UK’s main demands.

“The main reason I became a naturalised British citizen was principally the benefits of being part of the EU,” said Mr Coulson, 46, a father of two.

He said one of his reasons for leaving the UK for Abu Dhabi in 2015 had been a rise in anti-immigrant feeling in Britain.

“I was in the UK in 1998. At that time it was very welcoming,” Mr Coulson said. “But over the years it changed, particularly over the past five years.

“After we’d spent some time in the UAE, we wanted to go back and settle in Europe somewhere, like Spain or France.

“Of course, that’s in jeopardy now until the deal is sorted and we know what rights UK citizens will have in Europe. I am still proud to be a British citizen but the wrong people are in charge.”

Mr Coulson, a teacher, voted by proxy to remain in the EU referendum and tried to sign up British friends and colleagues to also register.

He is now hoping that the situation is resolved by moving

to a “softer” Brexit, meaning the UK would keep closer ties with the EU than is now proposed.

The Coulsons served as local councillors for the Liberal Democrat party in Woking when they were in the UK.

Meanwhile, it has been estimated that house prices will plummet if Britain leaves the EU without a deal, a scenario that is worrying expatriates with property interests.

“I’ve got a place in London,” said Ian Jenkins, 33, the regional head for Dubai recruitment company Carter Murray.

“The value of that is obviously dropping and, while it’s not a problem in terms of long-term investment, it’s still concerning.

“Brexit has also definitely pushed back any plans I had to move back to the UK. My fear is that if I leave the UAE to return home it might be difficult to find a job in a struggling economy.”

Mr Jenkins, from Sheffield, said Brexit was also having a direct effect on his business.

“We are seeing increased interest from candidates in the UK in moving to Dubai, which is seen as the more stable option when you have economic concerns back home,” he said.

“On the other hand, we have also seen a tightening of belts from UK companies that have offices here.

“They are veering against additional headcount costs because their core market, the UK, is in such economic turmoil and they don’t know what’s going to happen in six months.”

Justin Crowley, 46, from Port Talbot in Wales, said: “I have property back in the UK. The uncertainty caused by Brexit has left many of us wondering how to manage the financing of our properties there.”

Mr Crowley said he had spoken to some of his fellow British nationals in the UAE, who believe the value of the pound could drop as low as Dh3.

“I don’t think it will go as low as that but we have to be realistic and accept this is an unprecedented event and it is having a real effect, especially when you are looking at financing investments back home,” he said.

Mr Crowley, who owns a property maintenance company in Dubai, said many British nationals had enjoyed the low value of the pound but that could change if there were a second referendum.

“A lot of people have been enjoying the exchange rate. I know I have,” he said. “It’s been good for business.

“We need to make the most of it now, though. You can forget about this exchange rate the minute another referendum is announced. It will shoot straight back up in a flash.”

Glaswegian David Allan, 40, was another British national living in Dubai who had real concerns about the latest developments with Brexit.

“We don’t know what level of damage this is going to cause,” said Mr Allan, the general manager of the Radisson Blu Hotel on Dubai Waterfront.

“It is an absolute shambles right now. I am extremely worried about the impact this is going to have on my investments back home.”