If you want to get the right to live in the country and subsequently obtain its citizenship through investment, you should first find out how things work with taxes there. This is extremely important for doing business, for the development of your company.
As the expert on the investment program of the company Immigrant Invest Zlata Erlach notes, now it is easy to find proposals of countries with 0 tax. In 2022, this is more than realistic. In such states, you can immediately begin to develop your business, and do not think about sharing your gain with someone.
Как отмечает эксперт по инвестиционной программе компании Immigrant Invest Zlata Erlach, сейчас легко найти предложения стран с 0 tax. В 2022 это более чем реально. В таким государствах можно сразу начать развивать свой бизнес и не задумываться о том, что с кем-то нужно делиться gain.
What countries are tax-free? You can get citizenship by investment and not face overpayments in Bahrain, Brunei, Kuwait, Monaco, Oman, Qatar, Saudi Arabia, UAE, Saint Kitts and Nevis, Vanuatu. Businesses here won’t have to deal with overpayments. The states are friendly in terms of taxation. This will make it possible to take your business to a completely new level in the future.
Features of tax free countries
Each of the countries represented has its own rules and features. They must be taken into account when choosing tax free countries that are described here – https://immigrantinvest.com/blog/tax-free-countries-en/ . So, it is worth noting some of their peculiarities:
- Bahrain. There is a high level of income in this country, which it earns through the sale of oil. In the classical sense, there are no taxes, but the country has a certain fee, which goes to social insurance. However, it is difficult to get a residence permit in this country. To do this, you need to invest in a business from 135000 dollars or buy real estate for 2 times that amount.
- Brunei. There isn’t any income tax in this country, although a so-called “corporate tax” is charged. Unfortunately, it is problematic to get a residence permit here. The country often faces political crises, which prevents its economy from becoming visible on a global scale.
- Kuwait. It is another of the places where the oil industry is well developed. As a result, this country has only a “corporate” tax of 15 % and there are various social deductions. However, you can hardly count on Kuwait as a permanent place of residence. You must either have relatives or officially work here.
- Monaco. It is certainly the best place among the tax free countries in Europe. Moreover, the Principality is the only one in the Old World, where such a fee is not provided. An additional advantage is the fact that you can easily get citizenship in this country. But it requires a serious investment of 500000-10000 euros. You will also need to buy a house in the Principality, or rent real estate. Here you can learn more about the options for obtaining a residence permit in the country.
- Oman. As in other Middle Eastern states, the profits here are generated by selling oil. In most cases, this makes it possible to avoid taxation. However, the VAT on some products is still determined. The figure is 15. But it is not easy to get the documents that would allow you to live here. For this, you need to have relatives in the country. In addition, you should consider that it is a very conservative state with its own rules and customs.
- Qatar. It is another one of the list of countries where there is no income tax. However, it is still valid for VAT. In addition, a fee of 10% is paid by employers. The country is developing dynamically, there is a good infrastructure, business opportunities here. However, problems with obtaining a residence permit remain. The thing is that you need to pass the Arab language test for this.
- St. Kitts and Nevis. This is one of the most attractive countries without tax. An additional advantage is the fact that the program to attract investment has worked here for more than 40 years. In return, you can get a residence permit, and then a passport. It is enough to make a donation to one of the local foundations, as well as to buy real estate. All in all, you will have to spend about 350,000 dollars.
- Saudi Arabia. Capital in this country is not subject to taxation. Only foreigners who work in this country must pay it. It is not easy to obtain an official residence permit.
- UAE. This country is known all over the world. Its economy continues to develop rapidly. UAE is one of the most attractive country with no taxes. However, this applies only to income tax. VAT of 5% is still required. An additional trump card is a more realistic chance of obtaining local citizenship. Like in other Arab countries, this is not an easy process, but a certain liberalization of the law is still noticeable.
- Vanuatu. This country earns most of its income from tourists. If you want to enjoy the sunny weather, moving here is the best option. Also, you can’t get past the fact that obtaining a local passport is a relatively uncomplicated process. The island has had a long-standing program that involves issuing documents for making an investment.
Choose any of the presented options, and business development will become quite realistic. The experience of other users only confirms this.
What requirements will be put forward to potential investors?
If you are going to invest in the economy, you must be over 18 years old. In addition, you will need to confirm the legality of all income. This is a guarantee that all transactions are legal.
Later on, options for investment will be offered. This is usually the purchase of real estate or a donation to one of the special funds, which is determined by the state.