‘Zero income tax country’: UAE, especially Dubai and Abu Dhabi, are known for their tax-friendly policies. There is no personal income tax here, making it an attractive destination for expatriates and entrepreneurs, let’s know about 27 such countries
Antigua and Barbuda: With zero income tax and exemptions on wealth, capital gains, and inheritance, Antigua and Barbuda also offer a 50-year tax exemption for International Business Companies (IBCs), making it a prime tax haven. However, limited tax treaties mean foreign investors may still owe taxes in their home countries.
Saint Kitts and Nevis:No taxes on income, dividends, royalties, or interest for residents make Saint Kitts and Nevis a tax haven. The picturesque islands attract investors who, with a $250,000+ investment, can gain citizenship and travel to 150+ countries visa-free.
Bahrain: Bahrain offers no income tax, with corporate taxes only applicable to the oil and gas sector at 46%. Its 10% VAT and the option for residency by investment make it appealing for those seeking tax benefits.
United Arab Emirates: The UAE imposes no personal income, capital gains, inheritance, or property taxes, and has a low 9% corporate tax only for companies earning above AED 375,000. Residency can be obtained through investment, providing tax advantages and modern amenities.
The Bahamas: Famous for its warm climate and relaxed lifestyle, the Bahamas have no income or corporate taxes, with only up to 3% turnover tax. Residency can be secured with a $750,000+ investment, although citizenship by investment is not available.
Bermuda: With no income or value-added taxes, Bermuda’s corporate tax is based on share capital levels, and property tax is based on annual rental value. Residency is attainable through a $2.5+ million investment, but not citizenship.
Cayman Islands: No income, corporate, or value-added taxes make the Cayman Islands a top tax haven. A 7.5% stamp duty applies, and residency can be obtained with a $2.4+ million investment, although citizenship by investment is unavailable.
Vanuatu: Offering no taxes on personal income, inheritance, capital gains, and capital export, Vanuatu exempts companies from corporate taxes for 20 years with a $300 annual fee. Citizenship can be quickly obtained with a $130,000+ investment.
Monaco: Known as a “playground for the European elite,” Monaco has no property taxes and offers residency through a €1+ million investment. While citizenship by investment isn’t available, its tax benefits and lifestyle attract many.
Saudi Arabia: With a 20% corporate tax and a 50-85% tax on oil income, Saudi Arabia also imposes a 15% VAT. Permanent residency can be obtained through a $1.1 million investment, with no income or capital gains taxes.
British Virgin Islands: This British Overseas Territory offers no taxes on income, capital gains, or withholding taxes. While residency and citizenship by investment are not options, the islands provide a stable, tax-friendly environment.
Turks and Caicos Islands: Known for their world-class beaches, Turks and Caicos do not levy taxes on income, capital gains, property, inheritance, or corporate profits. The islands use the US dollar and offer political stability but no investment-based residency or citizenship.
Brunei: With a corporate tax of 18.5% and no VAT, Brunei offers a simple tax regime. However, residency and citizenship by investment are not available.
Kuwait: Kuwait’s 15% corporate tax and absence of value-added or property taxes make it attractive, though it does not offer residency or citizenship by investment.
Qatar: Qatar imposes a 10% corporate tax and no VAT or property taxes. Residency or citizenship cannot be obtained by investment, and lease registration fees apply to real estate rentals.
Somalia: Due to its status as a “failed state” with ongoing conflicts, Somalia offers a tax-free environment. However, it is unsafe, and investment-based residency or citizenship is not available.
Western Sahara: Tax-free due to territorial disputes, Western Sahara is also unsafe for living, with no options for residency or citizenship by investment.