Countries with the lowest taxes for foreigners

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forum244
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Countries with the lowest taxes for foreigners

Post by forum244 » Thu Oct 12, 2023 8:49 am

Foreigners often want to register their businesses or carry out work abroad, but to do this it is necessary to take into account not only the profit but also the amount of taxes. Consider the countries with the lowest taxes.

1. Monaco. A country in which there is no tax system. It's one of the most attractive places to live, but it's worth considering that Monaco is one of the most special data expensive places to live in the world. You don't pay taxes, but you pay a lot for simple or not so big things.

2. UAE. There are also no taxes on income, real estate and commercial activities. But to open a company, you must be a citizen of the country. The standard of living here is also quite high, but this does not stop foreigners from working in this country.

3. St. Kitts and Nevis. A country with a large number of tourists, as well as interesting investment programs for foreigners. He can invest $500,000 in real estate or donate $150,000 to the government and become a citizen of the country, which will allow him to not pay taxes.

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4. Oil countries. Kuwait, Bahrain, Qatar. 90% of revenues to the budget of these countries come from the sale of oil, so the government is not too concerned about taxing citizens. But the requirements for the activities of foreigners on the territory are strict, therefore it is worth considering these areas for activities only in the case of sponsorship or support from residents or companies registered in them.

5. Bahamas. There is no tax on personal income and there is no tax on corporate income. This is a great option for those who reside in the Bahamas but have a business in another country. To avoid double taxation. The residence application for foreigners is very easily considered by the government because the country lives off tourism and offshore operations. White-collar workers must pay 3.9% of their wages. Employers must also contribute 5.9% of the wages of all self-employed workers, if you are self-employed the tax is 8.8%. Property tax in the amount of 1%.

6. Bahrain. Another oil country. Social protection for citizens is 7% of taxes. Businessmen pay 12%. There is another real estate transaction tax of 3%. Expatriates pay 10% for housing rental. As for calculating taxes for different countries, it is best to consult a legal advisor.



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