Moving overseas advice
Tax free countries
Key takeaways
- Countries that don't have taxes include the United Arab Emirates (UAE), Qatar, Kuwait, Bahrain, and Oman.
- Countries with no income tax include Anguilla, Bahamas, Bahrain, Bermuda, British Virgin Islands, Brunei, Cayman Islands, Kuwait, Maldives, Monaco, Oman, Qatar, Saint Kitts and Nevis, Turks and Caicos, United Arab Emirates and Vanuatu.
- Tax-free countries in Europe include Monaco, Liechtenstein, Cyprus, and San Marino.
What countries don't have taxes?*
Countries that don't have taxes include the United Arab Emirates (UAE), Qatar, Kuwait, Bahrain, and Oman. Many of these impose no personal income tax, capital gains tax, or inheritance tax. Instead, they primarily fund public services (such as transportation, education, and amenities) through their vast oil and natural gas reserves.
Such Arab nations typically attract wealthy expats with additional incentives, like exclusive residency programs, access to high-end real estate, business-friendly regulations and favourable foreign investment laws. However, potential downsides include restrictive laws, geopolitical tensions in the region, higher living costs, and strict residency requirements.
If you're considering moving overseas, the following is a list of countries with low-income taxes and favourable living conditions:
1. Andorra
Personal income tax: 0% to 10% | Corporate income tax: 10% | Value-added tax: 4.5%
The landlocked European nation has a capped tax rate of 10% for married couples with incomes over €40,000 (around US$41,916). Individuals pay more, with an added tax of 5% on income between €24,001 (around US$25,151) and €40,000 (around US$41,916).
Located in the Pyrenees mountains between France and Spain, Andorra is a haven for those who prefer a quieter, ski-filled lifestyle. The country is also considered safe, with a population of just 85,000 and minimal crime rates.
2. Belize
Personal income tax: 0% to 25% | Corporate income tax: 1.75% | Value-added tax: 12.5%
The Caribbean nation has a flat income tax rate of 25% for individuals earning over US$26,000 annually. Those earning below this threshold are exempt from income tax. Plus, there's additional relief for those earning between US$26,000 and US$29,000.
Belize offers an affordable, laid-back lifestyle with stunning natural beauty, including the world's second-largest barrier reef. The tropical climate, official English language and options for easy travel to the United States add to its appeal.
3. Singapore
Personal income tax: 0% to 24% | Corporate income tax: 17% | Value-added tax: 7%
Singapore boasts a competitive and progressive tax regime, with rates ranging from 0% on income less than S$20,000 (around US$14,920) to 24% over S$1M (around US$746,010). Additionally, there are no taxes on foreign income.
Singapore is a modern, dynamic city-state with a safe, clean environment. It offers excellent infrastructure and a high quality of living. The food scene is world-renowned, attracting expatriates from around the globe.
4. Switzerland
Federal tax: 0% to 11.5% | Cantonal and municipal taxes: 0% to 36% | Value-added tax: 8.1%
Taxation includes federal and cantonal and municipal taxes. Federal rates max out at 11.5%, but when combined with cantonal and municipal taxes, the total can reach 36%. High-net-worth individuals not working in Switzerland can pay a fixed amount based on living expenses rather than their income.
The Alpine country is known for its safe streets, stable economy, high standard of living and excellent healthcare.
5. Portugal
Personal income tax: 13% to 48% | Corporate income tax: 21% | Value-added tax: 23%
The government taxes residents on their worldwide income at progressive rates ranging from 13.25% on income up to €7,703 (around US$8,071) to 48% on income over €81,199 (around US$85,076). Non-residents pay a flat rate of 25% on Portuguese-made income.
Expats and retirees love Portugal for its many cultural offerings, beautiful scenery and pleasant climate. The Iberian Peninsula nation offers a high quality of life with affordable living costs and a welcoming atmosphere.
6. Colombia
Personal income tax: 0% to 39% | Corporate income tax: 35% | Value-added tax: 19%
Fiscal residents are taxed on worldwide income, while non-fiscal residents are taxed only on income sourced in Columbia. Rates range from 0% to 39% based on income from 0-1,090 taxable income (TU) and 31,000 TU and above (1 TU equals COP$42,412, approximately US$10).
Colombia is affordable, with low living expenses and a passionate culture, including the lively streets of Bogotá. The country also boasts diverse landscapes, such as the Andes mountains, adding to its alluring aura.
*tax rates accurate as of 2025
Countries with no property tax
Countries with no property tax are Bahrain, Cambodia, the Cayman Islands, the Cook Islands, Croatia, Dominica, Fiji, Georgia, Israel, Kuwait, Liechtenstein, Malta, Monaco, Oman, Qatar, the Faroe Islands, Saudi Arabia, the Seychelles and Sri Lanka according to a study by consultancy firm Global Citizen Solutions.
Some countries forgo property tax as part of a broader strategy to attract foreign investors and stimulate the local economy. Such strategies appeal to regions with high property prices or a strong demand for luxury homes or vacation properties. However, buyers typically still pay transfer duties, registration fees and other transaction-related taxes at the point of purchase.
...the UAE's diverse economy and substantial oil, tourism and real estate revenue allow it to maintain a tax-free environment for global expatriates.
Countries with no income tax
Countries with no income tax include Anguilla, Bahamas, Bahrain, Bermuda (there is a progressive payroll tax which employers may pass on to employees), British Virgin Islands, Brunei, Cayman Islands, Kuwait, Maldives, Monaco, Oman (citizens will soon be taxed 5% on income above one million USD), Qatar, Saint Kitts and Nevis, Turks and Caicos, United Arab Emirates and Vanuatu.
The following is a list of some countries that have no income tax for foreigners, from oil-rich Arab nations to developing countries:
- Bahrain: oil and gas sector revenues provide the vast majority of government income, allowing the Middle Eastern nation to maintain a tax-free status for residents.
- Brunei: extensive oil and natural gas reserves primarily fund government revenue. As a result, there are no taxes on income, dividends or capital gains.
- Kuwait: the extreme wealth generated by the oil industry allows the government to forgo personal income taxes for citizens and foreigners.
- Maldives: the island nation benefits from a thriving tourism industry, which supports the government's budget without imposing income tax. However, you must be over 21 and a Muslim to apply for citizenship.
- Monaco: the luxury tourist hotspot and financial hub attracts wealthy individuals and businesses partly due to its lack of personal income or capital gains taxes.
- Oman: the Gulf state relies heavily on its oil and gas revenues to fund public services without taxing personal income. However, plans are in place to introduce income tax for citizens and foreigners to end reliance on hydrocarbons.
- Qatar: the Arab country's vast natural gas and oil reserves allow the government to waive personal income taxes while providing extensive public services.
- Saint Kitts and Nevis: the twin island nations generate sufficient revenue through tourism and their Citizenship by Investment program, which grants citizenship to wealthy individuals in exchange for investment.
- United Arab Emirates: the UAE's diverse economy and substantial oil, tourism and real estate revenue allow it to maintain a tax-free environment for global expatriates.
- Vanuatu: thanks to an economy funded via agriculture, tourism and offshore financial services, the Oceana island does not tax personal earnings.
What is a tax haven?
A tax haven is a country or jurisdiction (a defined area with legal authority) that offers favourable financial conditions to individuals or businesses. They provide low or zero tax rates, secrecy and a stable legal framework to protect investments and ensure regulatory compliance. Popular worldwide tax havens include the Cayman Islands, Luxembourg and Singapore.
Companies and individuals typically use tax havens to move money earned abroad and avoid higher taxes in their home nations. Some argue that tax havens encourage inequality and unethical behaviour, such as tax evasion or money laundering. However, many believe they promote economic growth.
Multinational corporations often favour jurisdictions like Bermuda and the Isle of Man due to their low corporate tax rates and lenient business regulations. Meanwhile, countries like Switzerland and the Cayman Islands attract wealthy individuals looking for privacy and low-to-zero income taxes.
Critics claim that tax havens undermine public services in higher-tax countries by causing substantial revenue loss that could otherwise fund healthcare, education and infrastructure. In recent years, international bodies like the Organisation for Economic Co-operation and Development (OECD) and the European Union have required countries to share financial information about taxpayers, making it harder to hide assets.
Did you know...
Countries are losing
US$492 billion
in tax a year to multinational corporations and wealthy individuals using tax havens.
Source: taxjustice.net
Tax free countries in Europe*
Tax-free countries in Europe (or those with minimal tax burdens for residents or businesses) include Monaco, Liechtenstein, Cyprus, and San Marino.
1. Monaco
Personal income tax: 0% | Corporate income tax: 25% | Value-added tax: 20%
Beloved by the rich and famous, the tiny principality is known for numerous tax advantages, especially its lack of personal income, capital gains or wealth tax. Residents do not pay tax on their worldwide income; however, companies in Monaco are subject to a corporate tax rate of 25%.
While such tax benefits are appealing, Monaco's residency requirements are strict. Individuals must purchase or lease property that meets specific size and value criteria and deposit substantial funds into a Monaco bank account, typically at least €500,000 (around US$521,723).
2. Liechtenstein
Personal income tax: 22% | Corporate income tax: 12.5% | Value-added tax: 8.1%
The landlocked nation does not impose capital gains, inheritance or gift tax on individuals, making it an attractive destination for investors. Liechtenstein also offers a favourable income tax rate for high earners, capped at around 22%.
However, residency requirements are strict, with just 100 permits issued yearly — 89 for European Economic Area (EEA) citizens and 11 for non-EEA citizens. Applicants must demonstrate financial stability, employment or business ties, and, in some cases, German language proficiency.
3. Cyprus
Personal income tax: 20% to 35% | Corporate income tax: 12.5% | Value-added tax: 19%
The island nation has no inheritance tax, which appeals to high-net-worth individuals and retirees. There are no capital gains taxes except real estate sales within the country. Cyprus also has various tax treaties, ensuring that income such as dividends, interest and royalties receive reduced tax rates or are exempt from double taxation.
Individuals seeking tax residency in Cyprus must spend at least 183 days per year in the country or meet the '60-day rule', which requires a Cyprus address and substantial economic ties.
4. San Marino
Personal income tax: 9% to 35% | Corporate income tax: 17% | Value-added tax: 17%
The microstate offers an attractive tax regime with no wealth or inheritance taxes. Personal income tax is progressive, with rates ranging from 9% for incomes under €10,000 (around US$10,434) to a maximum of 35% for incomes over €80,000 (around US$83,476). Businesses benefit from a flat corporate tax rate of 17%, with further reductions and exemptions available for start-ups.
To gain residency, foreign individuals must demonstrate sufficient financial resources to support themselves and be present in San Marino for 270 days per year.
*tax rates accurate as of 2025
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