Taxation is… well, it’s a lot of things for people nowadays, depending on the country they live in.

However, the consensus is that taxes have reached a point where they’re simply ripping off honest citizens, especially those that have started their own company or engaged in entrepreneurial activities.

The 15 Best Tax Havens Around the World

Those people have also found the answer to the ever-increasing level of taxation – namely, tax havens. These fantastic locations are spread throughout the world, and everyone can take advantage of them.

In most cases, registering your company in another country to avoid part of your tax is entirely legal!

As such, let’s take a look at 15 of the best tax havens in the world.

Saint Vincent

If you want to open a brokerage company in Saint Vincent – or any other type of business -, then be aware that you won’t pay taxes on it for about 25 years. Moreover, personal income taxes don’t exist in this tax-wonderful location.

Last but not least, estate or corporate taxes are also non-existent, making this one of the world’s best locations, tax-wise.

Bermuda

This has been a popular tax haven for quite some time now – not only because of its tax peculiarities. Naturally, Bermuda is often the first choice for many people, thanks to its appeal and exotic looks.

But, speaking strictly of tax, here you won’t be taxed for interest or corporate income, nor royalties or similar things, such as dividends. Even companies like Google used this location as a tax haven at least once.

The British Virgin Islands

These islands are home to roughly 40,000 people. However, more than 400,000 entities/companies are registered here due to their tax laws and regulations.

Reportedly, the islands shelter approximately $1.5 trillion worth of assets. Here, companies don’t experience any tax on interest, corporate income, or dividends.

Cayman Islands

This location is so popular that it has been mentioned as a tax haven even in movies and TV shows – and quite a lot of times, if we may say so.

Due to its tax loopholes, almost 100,000 companies are based here. How comfortable are those loopholes?

Comfortable enough to make this location account for a significant percentage of the world’s banking assets worth a total of $30 trillion.

Channel Islands

Europeans that don’t enjoy exotic locations but would still want to enjoy the benefits of a tax haven can rely on the Channel Islands.

They feature no corporate taxes but, in the cases when they do, the tax is only as high as 20%. Reportedly, Apple has $252 billion stored here.

The Isle of Man

This is yet another less-exotic location, ideal for those that still want to feel at home when lowering their tax responsibilities.

Here, tax on inheritances or capital gains doesn’t exist. On top of that, companies don’t have to pay any taxes either.

Ireland

Quite a curious entry on our list, right? Despite once being one of the poorest countries around Europe, Ireland managed to somehow get its corporate taxes as low as 12.5 upon entering the EU. Facebook, LinkedIn, and Airbnb reportedly enjoy the tax benefits of this country.

Luxembourg

One of the tiniest EU countries comes with business-friendly tax laws that are, according to some statistics, too pleasant in the eyes of the EU, so to say.

Despite the EU reportedly taking measures to change Luxembourg’s aggressive tax planning, more than a third of the Fortune 500 companies have a subsidiary here.

Malta

Malta is known, by many people, as a tax haven – for both regular people and business owners. The country is also one of the smallest EU members.

An outside company registered/listed here can pay as much as (only) 6.25% corporate tax.

Mauritius

Even though Mauritius seems more like a holiday destination, it comes with tax regulations that are attractive for business owners.

Namely, companies here have to pay only 15% income tax, while individuals don’t have to pay tax for their capital gains.

Monaco

This is, without saying, one of the favorite destinations of the wealthiest people around – this is a well-known fact.

As an individual, you don’t have to pay any income tax, while companies are often exempt from direct taxation. On the other hand, real estate here is one of the most expensive in the world.

Netherlands

If you’re sick of islands and bits of land as tax havens, you can also choose the Netherlands as your company’s registration home.

Corporate taxes here are reportedly so advantageous that giants like IBM, Google, and Chrysler decided to operate within the Netherlands on various levels.

Puerto Rico

Even though the people of Puerto Rico are citizens of the US, they are exempt from the infamous federal income tax practiced by the states.

On top of that, capital gains, interest, and dividends are not subject to tax.

Singapore

This particular country is the most popular tax haven of the past couple of years. Thanks to a continuously developing infrastructure, Singapore can provide companies with an income tax of as low as 17%. Roughly 40% of the Fortune 500 operate within this country.

Switzerland

You can’t have a list of tax havens throughout the world without mentioning Switzerland.

Here, corporate tax is only 8.5% – on top of that, companies headquartered here also enjoy Zurich, one of the most popular financial centers globally.

The Bottom Line

As you can see, tax havens are not scarce throughout the world. You can find one fit for you or your company across Europe, in some parts of the US, and Asia’s South-Central part.

In short, if you want to enjoy smaller taxes, fees, and so on, you have plenty of beautiful locations to choose from!

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