Sunday , November 24 2024

Zero Income Tax: There is no income tax in these 17 countries of the world, see the list here | News India

Zero Income Tax 696x464.jpg

Antigua and Barbuda: With zero income tax and exemptions on property, capital gains and inheritance, Antigua and Barbuda also offers 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 have to pay taxes in their home countries.

Saint Kitts and Nevis: With no taxes on income, dividends, royalties, or interest for residents, St. Kitts and Nevis has become a tax haven. These beautiful islands attract investors, who can obtain citizenship with a $250,000+ investment and travel visa-free to 150+ countries.

Bahrain: Bahrain has no income tax, corporate tax applies only to the oil and gas sector, which is 46%. Its 10% VAT and residency by investment option make it attractive for those seeking tax benefits.

United Arab Emirates: The UAE levies no personal income, capital gains, inheritance or estate taxes, and only has a 9% corporate tax for companies with income over AED 375,000. Residency can be obtained through investment, offering tax benefits and modern amenities.

Bahamas: Known for its warm climate and relaxed lifestyle, the Bahamas has no income or corporate taxes, with a turnover tax of up to 3%. Residency can be obtained 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 can be obtained through a $2.5+ million investment, but not citizenship.

Cayman Islands: The Cayman Islands are a top tax haven, with no income, corporate or value-added taxes. A 7.5% stamp duty applies, and residency can be obtained with a $2.4+ million investment, although citizenship by investment is not available.

Vanuatu: Vanuatu, which has no taxes on personal income, inheritance, capital gains and capital exports, exempts companies from corporate taxes for 20 years with a $300 annual fee. Citizenship can be obtained immediately by investing $130,000+.

Monaco: Known as the “playground for the European elite,” Monaco has no wealth tax and offers residency through a €1+ million investment. Although citizenship by investment is not available, its tax benefits and lifestyle appeal to many.

Saudi Arabia: Along 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 an investment of $1.1 million, with no income or capital gains taxes.

British Virgin Islands: This British Overseas Territory pays no taxes on income, capital gains or withholding taxes. While residency and citizenship by investment are not options, the islands offer a stable, tax-friendly environment.

Turks and Caicos Islands: Known for their world-class beaches, the Turks and Caicos Islands do not levy taxes on income, capital gains, estate, inheritance or corporate profits. These islands use the US dollar and offer political stability, but do not offer 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 are not available on the basis of investment.

Kuwait: Kuwait's 15% corporate tax and lack of value-added or wealth taxes make it attractive, although it does not offer residency or citizenship by investment.

Queue: Qatar levies a 10% corporate tax and no VAT or property tax. 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 to live in, as there are no options for residency or citizenship through investment.