Tax Havens For When You Win The Lottery

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Andorra
Andorra, a small country nestled between Spain and France, doesn't have any income tax for individuals or companies. It's only real taxes are customs duties, local property taxes and corporate registration fees.
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(credit: Thinkstock)
Anguilla
This British territory in the Caribbean is a neutral tax jurisdiction. There are no income, capital gains, estate, profit or other direct taxes on people or companies. You don't even have to be a resident. With beaches like this, why keep your vast fortune anywhere else?
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(credit: Thinkstock)
Bahamas
The Bahamas is a collection of islands southeast of Florida. This popular vacation destination offers fun in the sun but doesn't tax personal income, capital gains, inheritance or gifts.
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(credit: Thinkstock)
Bermuda
Bermuda doesn't currently offer much in the way of tax benefits for individuals, but businesses are totally exempt from income and capital gains taxes. So if you just won the lottery and want to start a business on an island in the Atlantic, Bermuda might be the best place for you.
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(credit: Thinkstock)
Cayman Islands
The Cayman Islands, in the western Caribbean, relies solely on import duties, tourist fees, licensing fees and other indirect methods of taxation. Investors don't have to pay income, capital gains, gift or estate taxes.
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(credit: Thinkstock)
Cyprus
Cyprus, in the eastern Mediterranean, just south of Turkey, is home to beautiful beaches, historical landmarks and an extremely low corporate tax rate (10%). And, as if that weren't enough of a draw, there is no capital gains tax or withholding tax on offshore companies.
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(credit: Thinkstock)
Dubai
The benefit of managing investments or companies in Dubai is that there are no taxes of any kind. This Middle Eastern state - part of the United Arab Emirates - won't audit you, nor will its government agencies require you to share information.
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(credit: Thinkstock)
Gibraltar
This British territory, located at the opening to the Mediterranean is a great place to run a company, as long as you're not a resident. According to Gibraltar law, a company managed by a non-resident enjoys tax exempt status.
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Hong Kong
What's most attractive about investing or saving money in this small-city state along the south coast of China? Hong Kong isn't part of the Organization for Economic Cooperation and Development (OECD). They still charge taxes, but the percentages are way lower than the international average.
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(credit: Thinkstock)
Luxembourg
Luxembourg has long been one of Europe's most popular tax havens, with some of the strongest secrecy laws around. More recently, the country has moved, with some success, to overcome its haven status.
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Monaco
Monaco is an independent city state situated along the scenic French Riviera. Although Monaco charges taxes to companies and French residents, the country's taxes are extremely low. Foreigners can stay tax exempt.
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Panama
Panama, one of the most beautiful countries in the Caribbean, does not charge any tax on income produced from sources outside the country. That includes proceeds from sales made outside of the country.
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Saudi Arabia
Saudi Arabia is so rich in natural resources like gold, coal, uranium and oil that the economy doesn't rely on corporate taxes as a primary source of revenue. Their taxes range from extremely low to nonexistent.
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Switzerland
Switzerland is the #1 tax haven in the world. This mountainous European nation has a long history of bank secrecy. On top of that, the Swiss do not consider tax evasion to be a crime. What more could you ask for?
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(credit: Thinkstock)
Vanuatu
Besides beautiful views and great weather, this South Pacific island nation offers protective banking secrecy laws as well as privacy and confidentiality for its clients. Vanuatu will take care of your money.
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Categories: Lighter Side Of Taxes

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