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Tax Havens For When You Win The Lottery
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Lighter Side Of Taxes
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Sixers vs. Heat - February 3, 2012
Andorra
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EAndorra%2C%20a%20small%20country%20nestled%20between%20Spain%20and%20France%2C%20doesn%26%238217%3Bt%20have%20any%20income%20tax%20for%20individuals%20or%20companies.%20It%26%238217%3Bs%20only%20real%20taxes%20are%20customs%20duties%2C%20local%20property%20taxes%20and%20corporate%20registration%20fees.%0D%0A
Anguilla
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EThis%20British%20territory%20in%20the%20Caribbean%20is%20a%20neutral%20tax%20jurisdiction.%20There%20are%20no%20income%2C%20capital%20gains%2C%20estate%2C%20profit%20or%20other%20direct%20taxes%20on%20people%20or%20companies.%20You%20don%26%238217%3Bt%20even%20have%20to%20be%20a%20resident.%20With%20beaches%20like%20this%2C%20why%20keep%20your%20vast%20fortune%20anywhere%20else%3F
Bahamas
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EThe%20Bahamas%20is%20a%20collection%20of%20islands%20southeast%20of%20Florida.%20This%20popular%20vacation%20destination%20offers%20fun%20in%20the%20sun%20but%20doesn%26%238217%3Bt%20tax%20personal%20income%2C%20capital%20gains%2C%20inheritance%20or%20gifts.%0A
Bermuda
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EBermuda%20doesn%26%238217%3Bt%20currently%20offer%20much%20in%20the%20way%20of%20tax%20benefits%20for%20individuals%2C%20but%20businesses%20are%20totally%20exempt%20from%20income%20and%20capital%20gains%20taxes.%20So%20if%20you%20just%20won%20the%20lottery%20and%20want%20to%20start%20a%20business%20on%20an%20island%20in%20the%20Atlantic%2C%20Bermuda%20might%20be%20the%20best%20place%20for%20you.%20
Cayman%20Islands
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EThe%20Cayman%20Islands%2C%20in%20the%20western%20Caribbean%2C%20relies%20solely%20on%20import%20duties%2C%20tourist%20fees%2C%20licensing%20fees%20and%20other%20indirect%20methods%20of%20taxation.%20Investors%20don%26%238217%3Bt%20have%20to%20pay%20income%2C%20capital%20gains%2C%20gift%20or%20estate%20taxes.%0D%0A
Cyprus
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3ECyprus%2C%20in%20the%20eastern%20Mediterranean%2C%20just%20south%20of%20Turkey%2C%20is%20home%20to%20beautiful%20beaches%2C%20historical%20landmarks%20and%20an%20extremely%20low%20corporate%20tax%20rate%20%2810%25%29.%20And%2C%20as%20if%20that%20weren%26%238217%3Bt%20enough%20of%20a%20draw%2C%20there%20is%20no%20capital%20gains%20tax%20or%20withholding%20tax%20on%20offshore%20companies.
Dubai
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EThe%20benefit%20of%20managing%20investments%20or%20companies%20in%20Dubai%20is%20that%20there%20are%20no%20taxes%20of%20any%20kind.%20This%20Middle%20Eastern%20state%20%26%238211%3B%20part%20of%20the%20United%20Arab%20Emirates%20%26%238211%3B%20won%26%238217%3Bt%20audit%20you%2C%20nor%20will%20its%20government%20agencies%20require%20you%20to%20share%20information.
Gibraltar
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EThis%20British%20territory%2C%20located%20at%20the%20opening%20to%20the%20Mediterranean%20is%20a%20great%20place%20to%20run%20a%20company%2C%20as%20long%20as%20you%26%238217%3Bre%20not%20a%20resident.%20According%20to%20Gibraltar%20law%2C%20a%20company%20managed%20by%20a%20non-resident%20enjoys%20tax%20exempt%20status.%20%20%0D%0A
Hong%20Kong
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EWhat%26%238217%3Bs%20most%20attractive%20about%20investing%20or%20saving%20money%20in%20this%20small-city%20state%20along%20the%20south%20coast%20of%20China%3F%20Hong%20Kong%20isn%26%238217%3Bt%20part%20of%20the%20Organization%20for%20Economic%20Cooperation%20and%20Development%20%28OECD%29.%20They%20still%20charge%20taxes%2C%20but%20the%20percentages%20are%20way%20lower%20than%20the%20international%20average.
Luxembourg
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3ELuxembourg%20has%20long%20been%20one%20of%20Europe%26%238217%3Bs%20most%20popular%20tax%20havens%2C%20with%20some%20of%20the%20strongest%20secrecy%20laws%20around.%20More%20recently%2C%20the%20country%20has%20moved%2C%20with%20some%20success%2C%20to%20overcome%20its%20haven%20status.
Monaco
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EMonaco%20is%20an%20independent%20city%20state%20situated%20along%20the%20scenic%20French%20Riviera.%20Although%20Monaco%20charges%20taxes%20to%20companies%20and%20French%20residents%2C%20the%20country%26%238217%3Bs%20taxes%20are%20extremely%20low.%20Foreigners%20can%20stay%20tax%20exempt.
Panama
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EPanama%2C%20one%20of%20the%20most%20beautiful%20countries%20in%20the%20Caribbean%2C%20does%20not%20charge%20any%20tax%20on%20income%20produced%20from%20sources%20outside%20the%20country.%20That%20includes%20proceeds%20from%20sales%20made%20outside%20of%20the%20country.
Saudi%20Arabia
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3ESaudi%20Arabia%20is%20so%20rich%20in%20natural%20resources%20like%20gold%2C%20coal%2C%20uranium%20and%20oil%20that%20the%20economy%20doesn%26%238217%3Bt%20rely%20on%20corporate%20taxes%20as%20a%20primary%20source%20of%20revenue.%20Their%20taxes%20range%20from%20extremely%20low%20to%20nonexistent.
Switzerland
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3ESwitzerland%20is%20the%20%231%20tax%20haven%20in%20the%20world.%20This%20mountainous%20European%20nation%20has%20a%20long%20history%20of%20bank%20secrecy.%20On%20top%20of%20that%2C%20the%20Swiss%20do%20not%20consider%20tax%20evasion%20to%20be%20a%20crime.%20What%20more%20could%20you%20ask%20for%3F
Vanuatu
%28credit%3A%20Thinkstock%29%3Cbr%20%2F%3EBesides%20beautiful%20views%20and%20great%20weather%2C%20this%20South%20Pacific%20island%20nation%20offers%20protective%20banking%20secrecy%20laws%20as%20well%20as%20privacy%20and%20confidentiality%20for%20its%20clients.%20Vanuatu%20will%20take%20care%20of%20your%20money.%0D%0A
Panama
(credit: Thinkstock)
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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