Tired of paying your taxes? Well, taxes surely makes our life very stressful. Living in a country like India, where paying taxes is necessity, is very expensive and these taxes are nothing more than just bloodsuckers. However, there are many countries where you can lead a tax-free life.
Here, in this article we bring you a list of 10 countries where you don’t have to pay income tax at all, have a look :
People in Qatar don’t need to pay taxes except the local source business income which is taxable at 10% rate.The other people don’t need to pay income tax at all.
2. Oman :
For personal revenues there is no income tax at all in Oman.
3. Bahrain :
Citizens of Bahrain don’t need to pay any tax on income. But they have a few indirect taxes like stamp duty of up to 3% of the value of the property on real estate transfers
4. Vanuatu :
Vanuatu is one of the rare countries where you can get temporary and permanent residency/citizenship through a donation and as a resident you don’t need to pay rent at all.
5. Cayman Islands :
People of this country don’t need to pay income tax for a living but you need to have an annual income of nearly $150,000, and investment of $500,000 on real estate or local company for that.
6. Monaco :
Yet another country where the citizens don’t need to pay Income Taxes.
7. Turks and Caicos :
Apart from being a tax-free country, the country also provides an easy permit to outsiders who spend at least $300,000 for building a new house or rebuilding any distressed property or invest at least $750,000 in a company that is majority-owned by locals, in order to live a tax-free life in Turks and Caicos.
8. Brunel :
Situated on island of Borneo, Brunel is one of the tax-free country which provides great incorporation and banking options.
9. Bahamas :
Bahamas is another tax-free country. This country receives most of the revenue from tourism and its robust offshore industry.
10. British Virgin Islands :
British Virgin Islands is the home of many entrepreneurs from around the world. In order to live a tax-free life you only need to show your bank statements and pay a $1,000 surety bond to get the residency permit.
What do you think about this? Share your thoughts with us in the comments below.