TAX FREE COUNTRIES IN THE WORLD
(The Quiver): How will be it ?if India announces of having no income tax.Many of the countrymen will dance out of happiness mostly the richer section of the society as no longer “Pandora Papers” can shed lights on their offshore accounts details . Yes some most Countries have allowed their citizens to remain income tax free.
Lets know about them below
United Arab Emirates
There are a number of oil countries in the Middle East that have no income or corporate tax. The UAE is popularly known for its stable government and economy. The UAE has a thriving economy and a more multicultural environment than the majority of countries in the Middle East. This translates into excellent dining and entertainment options.
The Bahamas
Having the benefit of not having to pay income taxes in the Bahamas depends on residency, thus allowing its citizens to enjoy tax free life. The Bahamas is one of the relatively less-expensive ones in which to live. Overall, the country has good infrastructure and services.
Bermuda
Bermuda is an even more attractive Caribbean income-tax-free destination which overcrosses even Bahamas; however, it is also a much more expensive country in which to live. The isolated location makes Bermuda one of the most expensive cost of living spots in the Western world.
Bermuda has the excellent roads and public transportation. Its famous pink sand beaches to its upscale restaurants,makes Bermuda one of the most scenic and pleasant countries in the Caribbean.
Andorra
Located in the Pyrenees mountains between France and Spain, Andorra was a tax haven for many years as a tax haven that did not impose personal income taxes. But it changed in 2015 when the country introduced a scalable tax rate at10% for individuals making over 40,000 euros each year.In keeping with its tax-friendly attitude, Andorra has one of the most well-developed offshore banking industries in the world.
Monaco
Located on the French Riviera, Monaco has extensive, well-developed marinas that are usually occupied by a selection of yachts from around the world. Monaco is considered one of the most beautiful and desirable places to live in Europe.
But living in Monaco cannot be everyone’s privilege as it is considered to be one of the most expensive places in the world to live in . Accessing Monaco’s income tax-free financial environment is quick but not cheap. A legal residence permit can be obtained in less than three months but requires depositing at least 500,000 euros in a Monaco bank.
