| Top Tax-Free Countries in 2024 | The Bahamas, Panama, Cayman Islands, Dominica, Bermuda, UAE, Qatar, Kuwait, Oman, and Singapore. |
| Key Tax Benefits | No income tax, no corporate tax, no capital gains tax, and other specific tax exemptions depending on the country. |
| The Bahamas | No income, capital gains, inheritance, or gift taxes. VAT and stamp taxes apply. Permanent residency requires a property investment of BSD $750,000 and a minimum stay of 90 days. |
| Panama | No income, corporate, or estate taxes for offshore companies. Banking secrecy laws are in place. No exchange control laws or tax treaties. |
| Cayman Islands | No income, payroll, capital gains, or corporate taxes. High living costs. Long-term residency requires significant financial investment. |
| Dominica | No income, corporate, estate, or gift taxes. Offshore entities can be established with privacy. No sharing of offshore account information with other countries. |
| Bermuda | No personal income, corporate, or capital gains taxes. Payroll taxes, stamp duties, and customs duties apply. High cost of living. |
| United Arab Emirates (UAE) | No personal income or corporate taxes. 5% VAT and specific taxes on industries like oil. |
| Qatar | No personal income tax. Low corporate taxes. 5% VAT introduced in 2019. |
| Kuwait | No personal income taxes. Corporate taxes apply to foreign companies. Customs duties and certain fees apply. |
| Oman | No personal income, property, wealth, or capital gains taxes. Considering implementing a personal income tax regime in the future. |
| Singapore | Not entirely tax-free. Personal income tax rates range from 0% to 22%. Corporate tax rate is 17%. No inheritance or capital gains tax. |
| Considerations | Local cost of living, quality of services, banking issues, and investment attraction need to be evaluated when choosing a tax-free country. |
