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The [American polymath](https://areafada.com) Benjamin Franklin memorably said there is 'nothing specific but death and taxes' - but there are a few places in the world where you can avoid paying income tax.
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The super-rich have actually long capitalized this, but more people are being lured by the lure of lower-tax jurisdictions for long-lasting wealth preservation.
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Yet off-shore moving is no longer the protect of the ultra-wealthy.
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' Remote work, double citizenship, international working with trends - they've all reduced the barriers,' states Nigel Green, CEO of deVere Group, a monetary advisory and possession management company. 'If [ambitious individuals] are not being rewarded at home, they're significantly comfortable exploring options abroad.'
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In the UK, recent fiscal grenades include completion of non-dom regime and estate tax breaks on assets held in overseas trusts, plus a freeze on earnings tax limits that has actually pushed more people into higher tax brackets until a minimum of 2028. Meanwhile, the strategy to include pensions as part of inheritance tax from April 2027 is currently in the proposition stage.
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The outcome? The UK has actually lost more billionaires in the past year than at any other time in history.
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Some will aim to nations such as Italy, Greece or Switzerland offering flat-tax routines, while others will consider low-tax jurisdictions such as [Barbados](https://northwaveasia.com) or Cyprus.
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But where will you pay no personal earnings tax at all? Here are 6 of the finest places to consider:
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UNITED ARAB EMIRATES
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If you don't want flashy Dubai there's the calmer Emirati capital Abu Dhabi with its fast-developing cultural island, Saadiyat
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Banks, worldwide schools, building and construction, hospitality, healthcare and engineering are all attracting a wave of British expats - an estimated 240,000 live there now
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Job opportunities, excellent climate and more skyscraper-lined vistas you can shake a selfie-stick at, the UAE is very much in need for its way of life and tax advantages.
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There is no personal income tax on incomes, financial investments, or rental earnings earned within the country, there is no capital gains tax (CGT), estate tax, wealth tax or annual tax on worldwide properties.
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If you don't desire glitzy Dubai there's the calmer Emirati capital Abu Dhabi with its fast-developing cultural island, Saadiyat, but they both use beaches, elite infrastructure, healthcare and [education](https://renthouz.my).
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The UAE can provide entrepreneurs what they are stopping working to find in the UK: security, [economic](https://vipnekretnine.hr) growth, a pro-business environment and regulative certainty.
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Setting up a company is an easy route to residency, consisting of in one of Free Zones, where expats can have 100 percent ownership without the need for a regional partner or investor.
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There are likewise numerous visa options including the 10-year golden visa that needs you to invest or acquire a residential or commercial property for a minimum of AED 2million (₤ 439,000), digital nomad and freelance visas.
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Banks, global schools, building, hospitality, health care and engineering are all drawing in a wave of British expats - an estimated 240,000 live there now.
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Major deterrents include the high expense of housing - rents can be more than in the UK, although the UAE average cost of living is 15 percent less than the UK - plus severe summer season temperature levels, traffic jams and UAE's stringent laws and cultural customizeds won't suit everyone.
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BAHAMAS. +Much closer to Florida than South America, the Bahamas uses a far more vibrant environment than the essential Caribbean islands - and no income, capital gains or inheritance taxes.
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The Bahamas provides a stable economy integrated with remote pink-sand beaches, reef and exceptional sailing
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Britons like it too - around 4,100 live there (there's a [direct eight-hour](http://tv.houseslands.com) flight to the UK), and lots of have set up in Nassau on the island of New Providence
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This Atlantic Ocean archipelago, with an American twist, provides a steady economy combined with remote pink-sand beaches, coral reefs and exceptional sailing.
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Privacy, security and lifestyle make it a favourite location for numerous North American billionaires. But start-ups, crypto and fintech financiers are also being drawn to its capital, Nassau.
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In addition to the international jet set, multinational brand names and conveniences have shown up: Nobu, Starbucks, Amazon shipments, Michelin-starred restaurants - and it's only a half-hour flight to much more in Miami.
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But Britons like it too - around 4,100 live there (there's a direct eight-hour flight to the UK), numerous have set up in Nassau on the island of New Providence - the expat center with most of the worldwide schools and cultural institutions. Or Freeport on Grand Bahama is more laid-back.
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Those who invest a minimum of $1million (₤ 741,000) on a home, financial contribution or financial investment in a critical sector can protect long-term residency - it's tough to get a work authorization otherwise. Perhaps the easiest option? The one-year Bahamas digital wanderer visa (BEATS), which, uncommonly for such plans, comes with no minimum income requirement.
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Aside from the danger of hurricanes - 2019's Dorian devastated the Abaco islands and Grand Bahama - the most significant downside is the high expense of living, which is 27 per cent more than in the UK according to numbeo.com, with rent costs that are 30 percent greater than the UK.
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You'll pay $3,200 (₤ 2,371) a month for a modest two-bedroom house on among New Providence's gated neighborhoods.
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MONACO. +A favoured base for dozens of sports stars, worldwide business people and F1 chauffeurs, Monaco is the tiny tax sanctuary that's just a seven-minute helicopter ride from Nice Airport on the French Riviera.
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The summer season play areas of Cap-Ferrat, Cannes and Saint-Tropez are all within simple reach by supercar or one's luxury yacht moored in Port Hercule, listed below the Monegasque cityscape of high-rises.
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A favoured base for dozens of stars, international businessmen and F1 chauffeurs, Monaco is the small tax haven that's just a seven-minute helicopter ride from Nice Airport
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From high-end shopping to Michelin-starred restaurants, casinos and beach clubs, the principality has more millionaires per square metre than anywhere else (and prominent people like its high security and stringent privacy laws). More than 2,800 Britons call it home.
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Obviously they all love it's the lack of income tax, wealth tax and capital gains tax, and the truth that when handing down possessions, partners and children do not pay inheritance or present tax.
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To get irreversible residency in Monaco you'll require to deposit a minimum of EUR500,000 (₤ 421,000) into among its banks and purchase or lease residential or commercial property in Monaco. Non-EU nationals need to get a French long-stay visa before making an [application](https://thailandproperty.com) for a Monaco residency authorization.
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These benefits do not come low-cost. The expense of living is 127 percent higher than in the UK, groceries are 70 per cent more, restaurants 50 per cent more expensive and lease is an eye-watering 705 per cent more, according to numbeo.com.
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You can find a small apartment or condo to purchase for around EUR1million (₤ 842,000), but that's all you need for your tax-base - lots of deep-pocketed new arrivals are likewise buying a bigger residential or commercial property over the border with France, according to Cote d'Azur Sotheby's International Real estate.
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SAUDI ARABIA. +In the run-up to Saudi hosting the FIFA World Cup in 2034, and as part of its Vision 2030 to change its economy, Saudi Arabia is opening up to foreign investment.
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If you are comfy about its human rights record, [strict laws](https://www.munrorealty.com.au) (alcohol is banned) and social conservatism, not to point out the searing heat, then a tax-free high salary for a couple of years may be a huge adequate pull.
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Yes, there's zero individual income tax, however you will not find the beach clubs or [bottomless-brunch culture](https://www.rentiranapartment.com) that you would in Dubai.
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In the run-up to Saudi hosting the FIFA World Cup in 2034, and as part of its Vision 2030 plan to transform its economy, Saudi Arabia is opening up to foreign financial investment
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Around 26,000-30,000 Britons reside in the Kingdom, generally in compounds in Riyadh and Jeddah
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Estate representatives report that many expats are moving from Dubai to Saudi for wages that are 25 per cent more than its GCC (Gulf Cooperation Council) neighbour - and there's strong demand for engineering, building, IT and health care workers.
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A crucial aspect of this is that the Saudi federal government is making it much easier for immigrants to acquire residential or commercial property - a brand-new Freehold Law is being prepared that will open the door to buy off-plan residential or commercial properties.
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Last year, Saudi Arabia broadened its own variation of a 'golden visa' - its Premium Residency plan - that can use residency if you are not sponsored by a company. This is open to those with special skills, financiers and entrepreneurs. You can likewise invest more than SAR 4million (₤ 790,000) in a residential or commercial property, or make a one-off payment of SAR 800,000 (₤ 158,000).
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Around 26,000-30,000 Britons live in the Kingdom, primarily in compounds in Riyadh and Jeddah, but brand-new vacation resort-style advancements have been built, although rental rates can be high. In Sedra, a popular neighborhood in Riyadh by ROSHN Group, a five-bedroom vacation home is being advertised at SAR 160,000 per year (₤ 31,600).
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The cost of living is around 35 per cent lower than in the UK, according to numbeo.com, however numerous expats get generous housing and private health care bundles. The global schools are expanding quick, with Sherborne School Jeddah (a branch of the UK independent school) opening this year.
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BERMUDA
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If you do not want the searing heat of the Middle East and choose the unwinded pace of a Caribbean island, Bermuda is a veteran favourite for British expats
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The high expense of living will take in some of the tax advantages. A two-bed townhouse in Paget may cost $7,800 (₤ 5,785) a month to rent
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If you don't want the searing heat of the Middle East and prefer the unwinded tempo of a Caribbean island, Bermuda - a long-time preferred with British expats - could be for you.
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Britons are the biggest group of non-Bermudians in the British Overseas Territory, numbering 3,942, according to the last census. While households gravitate to Hamilton for the global schools, the main parish of Paget uses homes a short walk from pink-sand beaches
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Security, security and a high standard of life are the pulls - plus the enticement of no earnings tax or capital gains tax. Life focuses on the beach, barbecues and weekend boat celebrations - and it's just 2 hours to New york city for a weekend culture fix.
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Less enticing are the high customs tasks that makes purchasing goods expensive, the restrictions of small-island life (some find it boring) - and high expense of living.
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You can visit Bermuda without a visa for up to 180 days in any 12-month period, however if you want to work in Bermuda, you should get a task offer and work permit before you get in the nation. There are specific chances for entrepreneurs and fintech organizations. There's likewise an one-year 'Work from Bermuda' digital nomad visa, however employment opportunities on the island are restricted.
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Britons are the biggest group of non-Bermudians in the British Overseas Territory, numbering 3,942, according to the last census
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Foreigners can only purchase residential or commercial properties valued above a minimum Annual Rental Value (ARV), so just higher-value residential or commercial properties. The current ARV is $126,000 (₤ 93,453) for [houses -](https://onestopagency.org) but is due to be evaluated on July 1 this year. This quantity corresponds to around $3million (₤ 2.2 million) for houses and $600,000 (₤ 445,000) for condominiums, according to Sotheby's International Real estate. Foreigners must use for a licence to buy.
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The high expense of living will soak up a few of that tax advantage. A two-bed townhouse in Paget might cost $7,800 (₤ 5,785) a month to lease - rents are 215 percent higher than the UK, according to numbeo.com, although general cost of living is only 97 percent more.
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CAYMAN ISLANDS
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Like Bermuda, the Cayman Islands also has tax benefits: no corporation, income, capital gains or inheritance taxes
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Like Bermuda, the Cayman Islands is a British Overseas Territory [providing](https://inmocosta.com) a tax-free and beachside lifestyle simply 90 minutes south of Miami.
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A high requirement of living coupled with low crime rate and Caribbean environment suggests an expat lifestyle focusing on brunches, boat parties and barbecues, with much of this centred around Seven-Mile Beach and west of George Town, the most significant town and organization hub of the three Cayman Islands.
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Find out more
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EXCLUSIVE
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How to relocate to Qatar: Offering high wages, tax benefits and year-round sunlight
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Why select Cayman over Bermuda? Some state Cayman's surroundings is less excellent however the Cayman way of life is much better, particularly the food lover scene centred about Grand Cayman. Others say that while the cost of living is high in Cayman (it's still 41 per cent more than in the UK) it's lower than Bermuda.
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It likewise has tax advantages: no corporation, income, capital gains or estate tax.
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Britons can keep up to 180 days without a visa then there are various routes to residency including a work license from a company or the digital wanderer visa, the Global [Citizen](https://tbilproperty.com) Program, which requires a minimum wage of $100,000 (₤ 74,242) but lasts 2 years.
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There are other routes by means of hefty forms of investment consisting of a Certificate of Direct Investment (minimum KYD 1million/ ₤ 906,000). Or spending at least KYD 2million (₤ 1.8 million) on a residential or commercial property provides you long-term residency (plus independent funds) however not the right to work.
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Foreigners can buy residential or commercial property but stamp responsibility at 7.5 per cent is high. You can purchase a clever two-bedroom house for ₤ 350,000-₤ 400,000 around George Town or rent a one-bedroom condo for around ₤ 2,300 a month.
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Downsides consist of small-island mentality, couple of employment alternatives and high electrical energy and home insurance bills - all that said, the cyclone risk is low.
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Dubai
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