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List of Tax Havens

This list of Tax Havens was based on the OECD list of tax havens 2004 and then adapted to help to gain helpful information for the assistance of anyone hoping to become a tax exile!

Albania
I have been assured that the tax rate is around 7% to 10% in this South East European country, and that tax solutions are possible because of the banking arrangements.

Andorra *
Mountainous country in the Pyrenees between France and Catalonia. Well known for being an independent tax haven nation.

Anguilla *

Antigua and Barbuda *

Aruba *
Aruba is a popular tourist destination, a Dutch island in the Caribbean just off Venezuela. There is almost no crime.

Bahamas *
"Red Carpet Not Red Tape" - There are no taxes levied on capital gains, corporate earnings, personal income, sales, inheritance, or dividends. However there is a 1-2% tax/year on property ownership, and a few import taxes.

Bahrain *

Barbados *
Possibly a low tax country, some sources claiming tax rates to be about 2% or thereabouts. Other info, from several sources, is that Barbados is no longer a tax haven, and that the tax is more like the UK (40%).

Belize *
Current information to hand suggests there is a 6% tax on companies operating within the Belize market, but not international businesses which are encouraged to move there (IBC). Business expenses aren't considered. Also there is some purchase tax, and some import duty, on some items. I was so impressed with the place that I bought a web domain there. See www.zyra.bz! I was so sure Belize was the place for me to emigrate to, that I went there for three months as a test. Unfortunately I was strangled in Belize and subsequently found there was police dishonesty and prejudice, so I'm now looking for a different tax haven to move to! If you can't trust the police, it's a problem.

Bermuda
Any company in Bermuda has to be 60% owned by Bermudians. We're still not sure if it's possible to become a Bermudian by being granted citizenship or whether you have to be born a Bermudian.

British Virgin Islands *
About 60 islands in the Caribbean, all small. Cost of living is high. Nice place, but I'd question whether this is a tax haven. At 20% tax, it's almost half that of the UK! However, there are some cunning tax solutions which you should consult a tax adviser about.

Canada
I wouldn't have considered Canada as a tax haven, and I would guess that Canadians would agree with me on that! However, I have been informed "Canada lets you set up a 5 year immigrant trust which is tax free. This basically means that you can move to Canada and, provided you have money, investments or a business already in place, you can set up an immigrant trust and be tax free for 5 years (on all money other than earned in Canada). Because it takes 3 years to become a citizen you can actually get 5 years tax free and change nationality and leave before you get taxed. Once you leave - you remain Canadian but you are not taxable in Canada. Canadians get special treatment on living / working in USA." ... Interesting? See a tax adviser! Plus, although Canada is often regarded as a nice place, with plenty of open space and fresh air, not everyone likes it. See Not Canada.com

Canary Islands
The Canary Islands is not a tax haven currently (2005) as it's part of Spain. However, after Canary Islands independence, it might be different.

Cayman Islands
In the Caribbean, just South of Cuba. No income tax, no inheritance tax. Zero percent tax. Some VAT and hotel tax etc. Property price cheaper than in London but more expensive than Up North. Entry requirements: selective. There is a problem however, which is that the place is notoriously not diversity-friendly!

Cook Islands *
You can't own land there, and it's quite difficult to be accepted as a citizen (2006), but there are many good things about the Cook Islands, if your desired life style fits. The place to find out more is: www.cookislands.org.uk

Costa Rica
Income tax is only charged on income made actually in Costa Rica, with international income being exempt. For migration to Costa Rica a helpful contact is ARCR.NET. Also see Costa Rica Real Estate

Cyprus
An island in the Mediterranean. Half of it is Greek, and the other half Turkish. The regimes don't get along well with each other, but most of the people just get on with life and don't worry about the politics.

Dominica *
Commonwealth of Dominica. As distinct from the Dominican Republic. There is no capital gains tax in Dominica.

Dominican Republic
The people at the Embassy in London are very friendly and welcoming. There's a lot of paperwork to read through, so I'll tell you more later on this. However there is some conflicting evidence suggesting that the Dominican Republic is not a tax haven. Someone said the tax rate was 35%. Is that true?

Gibraltar *
The Rock of Gibraltar, one of the Pillars of Hercules, a the gateway to the Mediterranean. Tax advice given by travel agents suggests this is good, but we're going to ask accountants to make sure.

Grenada *

Guernsey *
Channel Islands Guernsey / Sark / Alderney. The tax rate in Guernsey is 20%, which is quite high, but not as bad as the mainland UK.

Ireland
Depending on your line of business, Ireland could be a tax haven. Money made by being an artist is somehow tax exempt! Also a comment received here is "Ireland is pretty low tax provided you funnel everything through a corporation. I think they are down to 12% tax or lower now. (2006) Like England, Ireland is a tax haven if you are not Irish, live there but have domicile elsewhere". But remember: It's not tropical!

Isle of Man *
In the Irish sea between mainland Britain and Ireland, so not exactly tropical! However many tax haven companies are established there, although they don't all live there.

Jersey *
One of the Channel Islands, gaining splendid publicity by the television series Bergerac. To buy a house in Jersey requires you to have either: 1. been born there, or 2. lived there for 5 years, or 3. Have five million pounds in the bank.

Liberia *
African country, well-known for being a Flag of Convenience.

Liechtenstein *
The Principality of Liechtenstein - A small country in the middle of Europe. I've heard it's expensive to live there, but I'm sure someone will write to me and tell me more about it.

Luxembourg

Maldives *
The Republic of Maldives. Many coral atolls in the Indian Ocean. Pretty, but there are worrying questions about the sea level.

Malta
Islands in the Mediterranean. Does this count as as tax haven? The tax rate is 15%, but there are special discounts for electronic manufacturing companies because they're the latest fashionable thing! That doesn't include Internet companies, so I have heard, which seems a bit odd.

Marshall Islands *
The Republic of Marshall Islands

Mauritius
Indian Ocean Island off East Africa - "The Cyber Island" - Permanent residents who invest at least $500,000 welcome.

Monaco *
Monte Carlo, gambling casinos, grand prix racing. The country with the world's highest population density. Current opinion suggests you need to be very rich to afford to live there.