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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!

Tax Havens are GOOD! It's a matter of fair competition between nations. Countries with the more favourable tax regimes attract prosperous people to move there. This then changes the balance of power away from the overbearing established powers that would seek to form a global cartel/monopoly of high-tax countries. As a matter of personal freedom, it's important to escape from them!

List begins...

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 *
Anyone have anything nice to say about Anguilla?

Antigua and Barbuda *
There are some funny laws in Antigua, for example you're not allowed to wear any outfit made of camouflage patterned material, regardless of the style. I wonder when Barbuda will gain its independence.

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 *
An Arabic country which the OECD said was a tax haven. I'd tell you more, but when I visited the embassy in London, it was shut, and all the post had been stuffed under the door.

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%). These issues are largely being solved as we are about to announce a report from the place, telling first-hand experience of what Barbados is really like. The news is mostly good! Watch this space, and look forward to seeing a new page about Barbados. Current evidence is that Barbados is a low tax country.

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 will not be moving to Belize! It is my considered opinion that if you can't trust the police, it's a problem. Largely, the police corruption in Belize is what spoils the place.

Bermuda
Any company in Bermuda has to be 60% owned by Bermudians. I was not sure if it was possible to become a Bermudian by being granted citizenship or whether you had to be born a Bermudian. However, a helpful contributor has sent in this useful paragraph: "Citizenship - Bermuda Status - is not given to any non-national unless he or she marries a Bermudian - and then only if they qualify. A non-Bermudian who marries a Bermudian and wishes to apply for local citizenship (Bermuda Status) must (a) have been married to the same Bermudian for 10 (ten) continuous years; (b) during that marriage, been ordinarily resident in Bermuda for at least seven (7) years, the last two (2) years of which must be continuous to the date of application; (c) have been living together with the Bermudian spouse as husband and wife continuously for the two (2) years immediately before the application; and (d) be of good character and conduct".

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. Costa Rica is a very ecological place, with some of the best biodiversity, and policies to conserve the environment. Costa Rica now enjoys new found fame as a Tax Haven since the OECD tried to put shame on it for being a Tax Haven. Well, SHAME ON THE OECD then! Costa Rica is a great place, and has a certain independence. People move there, not just for the tax-exempt status, but also because of the freedom! Long may Costa Rica flourish as a Tax haven, free of the oppressive attempts at global homogenisation by the OECD!

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. It's a small island in the Caribbean. 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? It may not apply if your income is international. Best to ask.

Dubai
The built-up city of Dubai and the Emirate of Dubai, part of the United Arab Emirates. It's hot and dry and a place of great prosperity. An attractive place for expats as it is much more tolerant and Westernised than most Arabic places, although still too strict for some. My opinion is that Dubai could benefit from being more open-minded and diversity-friendly. If you'd like to go there and see for yourself, you could fly Emirates. More information about Dubai as a tax haven can be found at No Tax.ae . Another issue was raised by Panorama (BBC) in early 2009. The migrant workers being brought in to Dubai to build the luxury developments were found to be living in squalid conditions and being paid very poorly. (ie. in debt) . Supporters of free range chickens have something to say about this!

Ecuador
Apparently, "Ecuador does not levy tax on income earned outside the country by foreign residents", according to a helpful contributor.

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 *
Caribbean island.

Guatemala
Apparently, "Guatemala does not levy tax on income earned outside the country and foreign residents with no income from sources within Guatemala are not even required to report their income or file a return", according to a helpful contributor.

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. Also, the regime is distinctly different to the UK, so there may be better opportunities for tax avoidance. Incidentally, Alderney is the registered regime of choice of Blue Square Casino, so that's a plus sign for the place!

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. If you like the British seaside (in winter as well as in summer), and you don't mind paying 10% tax*, the Isle of Man could be a place to move to. Incidentally, most of the hotels on the promenade are now banks! As far as I know, even if you don't live in the Isle of Man, you are allowed to have an offshore bank account in the Isle of Man and avoid paying tax provided you don't live in the UK. * Note: The tax rates in the Isle of Man have been said to be as low as 5% or as high as 18%, but it depends on your financial circumstances, and also on how you configure your offshore company. Get the advice of an Independent Tax Adviser!

Isle of Wight
Although the Isle of Man has special tax haven status, and it might be imagined that the Isle of Wight is a tax haven for similar reasons, the sad fact is that the Isle of Wight is not a tax haven. Perhaps it should be. It would improve the local economy.

Jersey *
One of the Channel Islands, gaining splendid publicity by the television series Bergerac. To buy a house in Jersey and to live in that house requires you to have either: 1. been born in Jersey, or 2. lived in Jersey for 5 years, or 3. Have five million pounds in the bank. (The exact conditions are slightly more involved, but in essence you need to be very wealthy to qualify). This paragraph is being adjusted, thanks to helpful people at HSBC Offshore which is an international bank in the tax haven of Jersey. Now although some people have seriously questioned the merit of Jersey because of archaic laws (eg. sex discrimination in the laws of inheritance, etc), you don't have to live in Jersey to get some of the tax advantages, for example by your money being in a bank account there.

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. It is a sovereign nation, so let's hope other countries will respect that. (Since the end of the Second World War, countries in Europe have a history of sticking together, and if some foreign power tried to invade/bully/victimise Liechtenstein, let's hope the countries of Europe would unite against the aggressor).

Luxembourg
A small country in the middle of Europe. Famous for Radio Luxembourg 208.

Macedonia
In 2009 there was some publicity about the Republic of Macedonia as a Tax Haven, see www.investinmacedonia.com. Well Done to Macedonia for being declared as a tax haven! There are still questions by some people, wondering if Macedonia really is a tax haven or not, but we will see what investors have to say!

Malaysia +
My tax adviser suggested Malaysia as an option, and it's true it's in the up-and-coming East which could change the balance of power. However, what puts me off is the strict religious culture. Nevertheless, Malaysia gets included in the list following the OECD's decision to "name and shame" tax havens, and it's decided to pick on Malaysia. So, let's do the opposite and say Well Done to Malaysia for being a tax haven, if that's what it is.

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

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. They are islands in the Pacific. I'm sure they're very nice, but they are tricky to get to, and there is no high ground. However, they have a ship registry which provides a useful flag of convenience.

Mauritius
Indian Ocean Island off East Africa - "The Cyber Island" - Permanent residents who invest at least $500,000 welcome. It's very popular, and is becoming rather crowded.

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.

Montserrat *
Volcanic island in the Caribbean. Misfortune has struck the place, and the tax haven migration possibilities were diminished when the volcano erupted and destroyed the capital city and the airport. However, Montserrat is still a country and could potentially turn itself into an ideal offshore company registration place, thus affording to rebuild the place.

Nauru *
Still recovering from the frittering-away of the Pacific island's natural resource (phosphates), Nauru is looking for someone with a brilliant idea to put it back on the world economic map. If you travel to Nauru, local people there may ask you "why ever have you come here?"

Netherland Antilles *
The Dutch Antilles. These include St Eustatius, Saba, and Sint Maarten, and in a separate group Curacao and Bonaire. Previously Aruba was also included. Being culturally Dutch, they are more open-minded than some places.

New Zealand
Although New Zealand is not primarily a tax haven, there are some tax situations in which you can migrate to New Zealand and have a tax-efficient arrangement. Ask a professional adviser! Also, there is a Migration to New Zealand Guide available. I'm a bit put off by the fact that it's hidebound in overbearing rules like the UK is. If you don't believe this, take a look at what you're forbidden from taking there with you.

Niue *
in the Pacific

Panama *
The land between North and South America. Famous for being a Flag of Convenience, and for having a canal by which ships can avoid a round-trip round Cape Horn. Upon my visit to Panama I was made welcome, and I get the impression that Panama is a truly International place where culture and business is connected with the rest of the world. I am hoping to get an affiliate program with the tour operators whom I can recommend as they organised the travel so well, and also here's some links to some helpful Panama Real Estate people!

Philippines +
Again the OECD has highlighted a country and told everyone to think badly of it. Now whether the Philippines is a true Tax Haven and worth congratulating, visiting, and possibly moving there, is another matter. The problem is police corruption, which you can see a link about on the page of Injustice

Samoa *
Or Western Samoa. In the Pacific. Very traditional.

San Marino
Although an independent country, San Marino is entirely surrounded by Northern Italy. Although suggested at some time as a tax haven, I have been reliably informed: "Remove San Marino - at 50% personal income tax, who would bother moving there?"

Seychelles *
The Republic of Seychelles

Sri Lanka
There are probably some tax haven like things about the large island of Sri Lanka off India, if you get the tax planning right. Sri Lanka, also known as Ceylon and famous for tea, has an interesting combination of ancient Buddhist culture and old-style British Empire influence. There's an old-style charm about the place, and people are friendly and courteous. Good tea as well. If I was to criticise the place, it would have to be over inflexibility and stubbornness, a problem which has resulted in the troubles with the dispossessed peoples of Tamil Eelam, whose future independence would bring a much more amicable relationship.

St Lucia *
Caribbean island. Regimes take it in turns to rule the place.

St Kitts and Nevis *
Or "The Principality of St. Christopher and Nevis". Apparently more go-ahead than most Caribbean islands.

St Vincent and the Grenadines *
Or "The Republic of St. Vincent". It's an old volcano, but it's a long while since it erupted last.

Switzerland
I have heard that in Switzerland you can have a business arrangement with the authorities to pay a flat rate and then earn as much as you like. The Double Tax treaty means that you are free to move the money to wherever you want after 12 months. It would be interesting to know what the level of the flat rate might be.

Tonga *
Or The Friendly Islands. About 150 islands in the South Pacific. In my opinion, Tonga looks less good since they invaded the independent country of Minerva

Turks and Caicos *
Many islands south of the Bahamas. Turks and Caicos is a British dependency. From what I've seen, it is very old-fashioned, possibly to the point of being "stuffy".

UK
There are various Good and Bad things about the UK. I have been told that there is a perspective in which the mainland UK is a tax haven, provided you are not British. The trick is to be NON-DOMICILED. Exactly how this works, I do not know. I for one, am trying to escape from the UK!

Uruguay +
I wouldn't have thought Uruguay was a tax haven. Of course if it were, then well done to Uruguay! Uruguay has been showing a good lead on the move to abolish Prohibition, effectively trying to encourage the other Mercosur countries to make drugs legal in order to break the link with organised crime. If Uruguay legalised all drugs, it would put the stuffy puritanical countries to shame, as it would be a free country in the sense that you'd be free to take drugs if you so chose. After all, it should be a free choice for the individual person, and not something the state should interfere in. Anyway, Uruguay is on this list for now, as the OECD has decided to name and shame it. I say let's Name and Fame these places where there's still some freedom!

US Virgin Islands *
Includes St Croix (famous for golf), St Thomas, and St John.

Vanuatu *
The Republic of Vanuatu. As far as I know, tax rate is 5%. Nice tropical location in the Pacific, but there is a law against foreigners owning land, but I'm not sure if it's possible to cease to be a foreigner by living there a while. Also see the BBC's comments about Vanuatu. Plus, as well as being the home of a famous online pharmacy, Vanuatu is also famous for having at least one island where the locals have put up a valiant defence against christianity. Look up in searches: John Frum.

TAX HAVENS are nothing to do with tax evasion and crooked business activities generally. It's no good political pundits making a big fuss and begging to people's feelings of self-poverty with a plea of "everyone must pay tax". The fact is, no country controls the world, and no country should be allowed to control the world. There is fair competition, and that means that you should be allowed to escape from whatever tax-tyranny you live under and move to another country where there is more freedom. So, ask yourself, "Do you like paying tax?". If your answer is "No!", then consider carefully your options. You could move to another country where the tax is less, and possibly zero. You should be free to make that move. No government owns you.

Much of the confusion is generated because of an almost deliberate desire to mislead and to mix up the ideas of Tax Avoidance (which is honest) and Tax Evasion (which is crooked). This, and a quazi-communist notion about business (in the poverty-stricken land of Britain in the credit-crunch), led to an extraordinary incident in which someone being interviewed on the BBC documentary programme "Panorama", apparently accused the Royal Family of Liechtenstein of being crooks. Well no, they are not, and the reason the accuser won't end up being tried for treason is because they are not living under the rule of the laws of Liechtenstein. Similarly, people not living under the laws of [USA/UK/ insert country here] don't have to abide by those laws, and that includes their tax laws.

There is an issue of Transparency, which is really a matter of having your financial affairs sufficiently open that it's possible to see that there isn't a money-laundering racket going on, tax evasion in another country, etc. However, you have a human right to have a private life as well as a public life, and what you do in private is no-one's business but your own!

* = was on the 2004 OECD list of tax havens regarded for some reason or other as un-cooperative. We don't necessarily agree with the OECD and have asked them politely and diplomatically what they regard as the "harmful tax practices" which they are hoping to eliminate. They haven't replied yet. This lack of reply has been interpreted here as tacit confirmation that the OECD's true agenda is to form a cartel/monopoly of high-tax countries to enslave the entire world. We don't want them to get away with that, and it should be up to each country to compete on a fair basis to be the most favourable tax regime, and then for individuals to "vote with their feet" and move to the best countries. Ultimately this could leave high-tax countries in a position of having very few wealthy people remaining, and the high-tax countries would then fall en-bloc like the failed Communist USSR.

+ = was mentioned on the 2009 OECD list of tax havens singled out as worth victimising in a Name and Shame campaign. However, I say, let's Name and Fame those countries that have the glorious title of TAX HAVEN. Tax Havens are good! They give YOU the chance to ESCAPE from whatever tax tyranny you live under, and move to somewhere that's got more freedom. So, Well Done to the Tax Havens! See Escape to a Tax Haven

High tax countries could actually be put out of business sooner than previously expected, now that there's a "credit crunch". Note that there is no "economic downturn" or "recession" in the tax havens.

Well Done to any country declaring itself to be a TAX HAVEN, as that's another place where there's freedom and prosperity!

Obviously this is a bit sparse on information to start with. But, if you know something about the international situation on tax havens, e-mail me and the page will be adjusted and improved. There's also the ultimate tax haven idea of buying an island, but that's a bit more adventurous!

Most tax havens are small countries, and further research shows a possibility that there may be tax havens within the list of micro nations at www.angelfire.com/nv/micronations/real.html , although that useful page is more to do with sovereignty rather than tax.

There's a useful information resource at the Index of Economic Freedom (Gone! Was http://www.heritage.org/research/features/index/countries.html ) where countries are compared. Although useful and informative, there are strange quirks where some countries which clearly have appallingly high tax (such as the UK) are rated as more "free" than some of the places that charge no income tax and no inheritance tax, such as some of the Free Caribbean countries. Incidentally, a good litmus-test of how free some countries are is to look into the Lesbian and Gay issues. (You don't need to be gay to do this, anymore than you need to be a polar bear to know that global warming could be a problem).

Note that tax havens aren't always tax havens for all people. Much of this depends on domicile and on each person's own individual circumstances.

Other kinds of havens: Haven Europe and Haven Holidays

This TAX HAVENS feature is going to be updated now I have actually visited some tax havens! It's important to know, when choosing where to live, it's not just the TAX that matters! You need to find somewhere that has a culture which you can get on well with. So, first do some research in advance, and then... TRAVEL! This also opens up the wider question of choosing which country to move to as there are many things to consider, not just tax.

Regardless of the pontificating of mainstream politicians (communists in disguise), Tax Havens are GOOD! If you became rich, surely you would prefer not to vote for them, and instead choose to vote with your feet by Escaping to a Tax Haven. Remember: It's your money, so it's best if you can keep it and avoid the government stealing it.

Another useful contact: Magazines for Expats

Open an offshore account with HSBC Offshore
Another option is Lloyds TSB International, but at the time of writing Issue132 the links were down.