Top 15 No Income Tax Countries: Tax-free countries are in World 2023

This can help people who want to migrate to a non-taxable country. Still there is no tax on anything here. This is why the people who live here save a lot which is no mistake.

Published by: Blinzo Desk

If you are planning to register your company in a foreign land, then here is the list of the Top 15 Tax-Free Countries in the World. These are the countries where there is completely Zero Tax. Neither do they levy any Corporate Tax nor any Income Tax.

All those who have taken refuge in India have to pay tax to the government. But in many countries one rupee will not be taxed. Although it may come as a surprise to some, some countries actually do not collect a single rupee of tax from their residents. Now let’s look at some of the countries that do not impose such tax (Tax Free Countries). This can help people who want to migrate to a non-taxable country. Still there is no tax on anything here. This is why the people who live here save a lot which is no mistake.

Also Read: Top 10 largest banks in the world

Top 15 Tax Free Countries

1. Bahamas

Bahamas (Top 15 No Income Tax Countries: Tax-free countries are in World)
1. Bahamas (Top 15 No Income Tax Countries: Tax-free countries are in World)

As one of the most popular tourist destinations in the world, it’s no wonder why the Bahamas doesn’t need to charge income tax to make ends meet.

Plus, with its stunning beaches and fast-growing economy, the Bahamas is one of the most livable countries with no income tax. Establishing a second residence there is not too difficult, either – as long as you have the money.

Also Read – Top 10 poorest countries in the world 

Getting a temporary residence permit is as simple as paying $1,000 at the immigration office, and it’s renewable every year.

Recently, however, the Bahamas has started cracking down on foreign residents who use the temporary permit without making investments. If you want to stay there long-term, you’ll need to buy at least $750,000 in property to get on track for permanent residence.

As a general rule, the more money that you invest in the Bahamas, the more likely you’ll be treated favorably by the immigration office.

While getting permanent residence is mostly a matter of investment, citizenship is another story.

The country has flirted with an expensive citizenship by investment program, but nothing has come of it yet.

You won’t pay much in taxes to the Bahamas, but you’ll need to spend a substantial amount of money to live there. In the long run, though, it could be worth it to pay no taxes while lounging by the beach.

Also Read: Top 10 richest people in India 

2. Bahrain

Bahrain (Top 15 No Income Tax Countries: Tax-free countries are in World)
2. Bahrain (Top 15 No Income Tax Countries: Tax-free countries are in World)

Bahrain was one of the first states in the Persian Gulf to discover oil on its lands. This oil discovery has allowed it to become one of the wealthiest nations in the world – and one of the handful of countries with no income tax.

It’s also fairly easy to live there.

While I’m not particularly enamored with Manama, the city is well-developed, and there’s a sizable expat community here.

However, the problem with Bahrain – and many other Gulf states – is that getting permanent residence can be difficult.

Also Read: Top 10 Richest People in the World

To establish permanent residence in Bahrain, you need to be retired, invest $530,000 in property, or earn a basic salary not less than $10,600.

While getting permanent residence in Bahrain is possible, citizenship is another story. You need to live in the country for 25 consecutive years and be fluent in Arabic.

Bahrain, then, could be an option if you’re looking for a tax-free permanent residence in the Gulf, but don’t count on getting a second passport there.

Also Read: Top 10 most powerful countries in the world 

3. Bermuda

Bermuda (Top 15 No Income Tax Countries: Tax-free countries are in World)
3. Bermuda (Top 15 No Income Tax Countries: Tax-free countries are in World)

The British territory in the North Atlantic Ocean known for its pink-sand beaches, and for its zero income tax.

It does have a payroll tax though. The main difference is that payroll tax is required by employers only, who may deduct a 9.5% from employees’ salary that goes to said tax. And if you’re self-employed, you are required to pay the payroll taxes yourself.

Bermuda has a population of just 62,000 residents, and doesn’t have any residence or citizenship by investment programs.

If you want to visit the friendly island, you can stay for 3 to 6 months with a short-term permit visa.

You can also live there on a work permit that’s usually issued for 1 to 5 years, sometimes longer.

Also Read: Top 10 richest countries in the world 

4. Brunei

Brunei (Top 15 No Income Tax Countries: Tax-free countries are in World)
4. Brunei (Top 15 No Income Tax Countries: Tax-free countries are in World)

This tiny Sultanate on the Malaysian island of Borneo also has enough oil wealth to forego income tax.

However, unlike Bahrain or the Bahamas, Brunei is extremely difficult to live in.

I wasn’t a fan of Brunei when I visited several years ago. It’s not very friendly to foreigners, and the government is, frankly, heavy-handed and dictatorial. I even met a fellow expat who was scared to speak with me thanks to local laws and policing practices.

Permanent residence and citizenship are also out of the question – unless you somehow gain the approval of the Sultan.

Brunei mostly just exemplifies how countries with no income tax are not necessarily hubs of economic freedom.

Also Read: Top 10 Best Cities In The World 

5. Cayman Islands

Cayman Islands (Top 15 No Income Tax Countries: Tax-free countries are in World)
5. Cayman Islands (Top 15 No Income Tax Countries: Tax-free countries are in World)

Like the Bahamas, the Cayman Islands’ scenic beaches draw in enough tourists to keep its government afloat without the need for income tax.

However, if you want to live there long-term, be prepared to invest a considerable amount of money.

Also Read: Top 10 Cleanest Cities In The World 

You’ll need to be making $145,000 per year and invest at least $2 million in real estate or local companies if you want to live on Grand Cayman, and from there, you’ll need to wait another eight years for permanent residence.

And, as in most Caribbean countries, the more money that you invest, the more easily you can obtain permanent residence.

However, you can get away with investing a bit less if you choose to move to one of the less-popular islands, like Cayman Brac.

The Cayman Islands can therefore be an interesting zero-tax option if you have the money to invest in becoming a permanent resident.

Also Read: Top 10 richest countries in the world 

6. Kuwait

Kuwait (Top 15 No Income Tax Countries: Tax-free countries are in World)
6. Kuwait (Top 15 No Income Tax Countries: Tax-free countries are in World)

Like many of the Gulf countries on this list, Kuwait doesn’t need to levy an income tax thanks to its large oil industry.

It’s also one of the most expat-friendly countries in the world.

Foreign citizens make up two-thirds of the population, and from my experience, Kuwait City is highly Americanized and easy to navigate.

Also Read: India: Top 20 cleanest cities in India

However, while I enjoyed visiting and doing business in Kuwait, obtaining permanent residency there generally requires you to have Kuwaiti relatives or formal employment within the country.

It also doesn’t have much need for foreign investment, so citizenship by investment is also out of the question.

Living permanently in Kuwait’s tax-free haven, then, is near-impossible, so I wouldn’t base your tax strategy here.

Also Read: Top 20 Oldest Continuously Inhabited City In The World

7. Maldives

Maldives (Top 15 No Income Tax Countries: Tax-free countries are in World)
7. Maldives (Top 15 No Income Tax Countries: Tax-free countries are in World)

Imagine living in an over-water bungalow without paying a dime in income tax.

You can technically do that in the Maldives, a small island country in the Indian Ocean.

Thanks to its plentiful – and expensive – resorts, the Maldives doesn’t see much need for an income tax.

Also Read: Ancient Cities: Top 15 Ancient Cities in India

However, while spending your days living tax-free in the Maldives sounds idyllic at first, staying there long-term is close to impossible.

You need to be a Sunni Muslim to even apply for citizenship or permanent residence. Even if you are Muslim, the country doesn’t have a program for foreigners to become permanent residents – let alone citizens.

So, while you won’t have to worry about triggering tax requirements as you lounge at the St. Regis, moving to the Maldives is out of the question for most people.

Also Read: Top 10 richest women in India 

8. Monaco

8. Monaco (Top 15 No Income Tax Countries: Tax-free countries are in World)

Monaco’s status as one of the world’s best countries with no taxes has made it into a playground for the European elite.

This gorgeous country on the French Riviera is safe and luxurious, yet it charges its residents and citizens a total of zero income tax.

Plus, since the country tends to attract high-income, tax-averse types, it will likely remain among countries with no income tax for the foreseeable future.

Also Read: Top 10 largest economies in the world 

It’s also one of the easier tax-free countries to become a citizen in.

Although you’ll need to spend several million dollars to prove your wealth in order to become a resident, the residency process itself is fairly straightforward since it’s a popular destination for wealthy expats.

If you’re thinking of moving there, check out our ultimate guide to getting residency and citizenship in Monaco.

For those of you who prefer European glamour to island life, then living tax-free in Monaco may be the right choice.

Also Read: Top 10 richest women in the world

9. Nauru

9. Nauru (Top 15 No Income Tax Countries: Tax-free countries are in World)

Nauru is a small island country in southwest Pacific Ocean that was first named “Pleasant Island” by European sailors.

Unfortunately, however, the island doesn’t seem to quite live up to its nickname.

Most people only know of Nauru for making headlines as the location of a controversial Australian-run detention camp for asylum-seekers.

Also Read: Top 10 biggest companies in the world 

Although Nauru certainly has many of the charming features that draw visitors to other Pacific islands, the island’s phosphate mining industry has decimated its economy. It may even be sinking into the Pacific Ocean, too, thanks to rising sea levels.

In fact, Nauru is among the world’s countries with no taxes because of the government’s last-ditch efforts to keep its economy afloat.

If you’re looking for a peaceful tax haven in the South Pacific, Nauru might not be your best bet.

Also Read: Top 10 highest-valued currencies in the world

10. Oman

10. Oman (Top 15 No Income Tax Countries: Tax-free countries are in World)

Like most of the Middle Eastern countries on this list, Oman is a wealthy and entrepreneurial nation that has no need for an income tax thanks to its oil and gas industry.

Additionally, despite its massive oil and gas reserves, Oman has made a distinct effort to diversify its economy and open its markets to new opportunities. This makes it a great alternative to the UAE for investors looking for new opportunities in the Gulf.

The Omani government even offers an Investor Residence Visa on its website. However, specifics like minimum investments aren’t readily available, and none of the lawyers I spoke to in Oman specialize in this area.

Also Read: Top 5 cities with highest number of billionaires in the india

As with most wealthy Middle Eastern states, Oman isn’t exactly dying for foreign capital, so expats looking to move there usually need a job or family in the country to do so easily.

Actually living there can also be a major adjustment since Omani culture is quite conservative. In fact, you need to obtain a personal liquor license from a local police station to even buy a bottle of wine.

Oman is an interesting option among countries with no taxes, but living there long-term isn’t generally in the cards for most Nomad Capitalists.

Also Read: USA: Top 30 Must-Visit Tourist Places in the USA

11. Qatar

11. Qatar (Top 15 No Income Tax Countries: Tax-free countries are in World)

At first glance, Qatar appears remarkably similar to its neighbors in the Persian Gulf.

It’s a small, wealthy country that earned its fortune through the oil industry. Its culture is highly conservative yet rapidly modernizing thanks to foreign investment and influence.

And, of course, its oil and gas revenue allows the government to stay afloat without levying an income tax.

Despite these similarities, Qatar is a fascinating country due to its particularly high level of development and role in world politics.

Also Read: What is GDP? How is India’s GDP calculated?

It may be small, but Qatar has one of the highest per capita income rates in the world and is regarded as being the most developed country in the Middle East. The country also hosted the soccer World Cup in 2022.

It also plays a unique role in global and regional politics.

Overall, Qatar is a relatively peaceful and pleasant place to live, and unlike its Gulf neighbours, offers permanent residence for expats.

That being said, like most countries with no income tax, it’s still difficult for foreigners to attain permanent residence since requirements are strict and few lawyers specialize in the area. To even be eligible, you must have lived in the country for over 20 years and have a good command of Arabic.

Also Read: India: Top 40 Must-Visit Tourist Places in India

12. Saint Kitts and Nevis

Saint Kitts and Nevis
12. Saint Kitts and Nevis (Top 15 No Income Tax Countries: Tax-free countries are in World)

If you’re looking for a place where you can easily establish tax-free citizenship, look no further than Saint Kitts and Nevis.

The price tag of its citizenship by investment is also far lower than other citizenship by investment programs.

Also Read: Top 10 most subscribed YouTube channels in the world

There are two investment options to get the passport. A donation of $150,000 to the Sustainable Growth Fund or an investment in a government-approved real estate project for at least $400,000.

While you can read more about the citizenship by investment program in Saint Kitts and Nevis here, it’s a relatively easy process that can take less than a year to complete.

Also Read: YouTube: How to Create a YouTube Channel and earn money?

13. Somalia

13. Somalia (Top 15 No Income Tax Countries: Tax-free countries are in World)

Remember when I mentioned that not all countries on this list are very livable?

Somalia is – without question – one of those countries.

Insurgent groups like al-Shabab still control large swaths of the country’s territory. Somalia is also facing a devastating humanitarian crisis, with millions facing acute food insecurity and NGOs struggling to provide aid to vast areas controlled by al-Shabaab due to the fear of attacks.

Also Read: Top 10 most-viewed videos on YouTube

The clan uprisings have been accompanied by the worsening drought, with al-Shabaab increasing taxes and local clans rebelling. Somalia’s ongoing conflicts mean that it is far from a viable option when looking for a zero-tax territory.

However, Somalia’s emergence from decades of conflict might mean the end of its zero-tax status as the country repays its foreign debts.

Also Read: Top 10 most viewed YouTube live streams in the world

14. United Arab Emirates

United Arab Emirates
14. United Arab Emirates (Top 15 No Income Tax Countries: Tax-free countries are in World)

According to the Index of Economic Freedom, the United Arab Emirates is the 24th-freest economy in the world, and 1st in the Middle East/North Africa region, thanks to its openness to trade and low taxes.

Like most of its neighbors, the UAE earns plenty of money from oil exports, so residents can live there tax-free.

It’s also one of the easier Gulf countries to live and invest in.

The government of the UAE openly encourages foreign investment, and cities like Dubai are well-known for their entrepreneurial spirit.

The UAE is also highly livable by most standards – especially in terms of safety and development. While it is a fairly conservative country, the UAE is multicultural and more tolerant than some of its neighbors.

Also Read: Top 10 Indians with highest followers on Instagram

Becoming a resident of the UAE is also easier than in other Gulf countries. While a permanent residence program for foreign investors does not exist, its visa policies are becoming easier to navigate. The government has even recently started to issue 10-year residence visas.

Most lawyers and long-term expats I’ve spoken to agree that if you maintain your investments, stay out of trouble, and can deal with some bureaucracy, you can live in the country for decades.

As an international hub for trade and finance, the UAE is one of the more appealing countries with no income tax on this list.

Also Read: Top 10 most followed Instagram accounts in the world

15. Vanuatu

15. Vanuatu (Top 15 No Income Tax Countries: Tax-free countries are in World)

Like many other island nations, Vanuatu relies on tourism revenue to fund its government.

It’s also one of the few countries with no taxes where you can get a second passport quickly, easily, and (relatively) cheaply.

After a devastating cyclone ripped through Vanuatu in 2015, its government re-introduced its citizenship by investment program to help raise funds to rebuild the damage.

Also Read: Top 20 most-liked posts on Instagram

Today, Vanuatu’s citizenship by investment program is one of the easiest to navigate in the world. The country has even begun to accept Bitcoin as an investment currency.

It also costs significantly less than similar programs in the Caribbean, and its passport has become considerably stronger over the past few years.

The only drawback to Vanuatu is getting there. Although I’ve found a handful of inexpensive flights from hubs like Kuala Lumpur, traveling there is time-consuming and costly.

However, since Vanuatu is one of the easiest countries with no taxes for citizenship by investment, going there may be worth the trouble.

Also Read: Top 10 most followed accounts on Twitter / X in the world

Top 15 No Income Tax Countries

  • Bahamas
  • Bahrain
  • Bermuda
  • Brunei
  • Cayman Islands
  • Kuwait
  • Maldives
  • Monaco
  • Nauru
  • Oman
  • Qatar
  • Saint Kitts and Nevis
  • Somalia
  • United Arab Emirates
  • Vanuatu

Also Read: Top 10 richest people in Asia 

Should You Move to a Country With No Income Tax?

If you’re tired of losing a good portion of your income to taxes, then moving to a country with no income tax can be tempting.

However, as I can attest, actually moving to one of these places and is easier said than done.

If you’re a US citizen, you’ll still have to contend with Uncle Sam every year unless you renounce.

You’re also limited in where you can go and where you can stay long-term. Gulf states tend to favor employed expats over foreign investors, and tourist hubs usually require a large investment to live there.

Ease of access is part of going where you’re treated best, and unfortunately, not many countries with no taxes fit that bill.

These kinds of limitations are why I often suggest low-tax countries as tax-free second residences. Territorial tax countries like Malaysia are often much easier to establish residence in than countries with no taxes.

However, if you’re dead set on living in one of these countries with no taxes, you can get citizenship by investment fairly easily in Saint Kitts or Vanuatu.

With some planning and flexibility, you might just be able to achieve the dream of living tax-free.

Share This Article

Related Posts