7 countries around the world that are tax-free!

What if we say you can live the rest of your life without paying a single penny as tax? While there are countries that collect taxes from the public that are used for the country’s development, there are also countries which generate their revenue through tourism and mining.
United Arab Emirates
United Arab EmiratesPexels
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1. United Arab Emirates (UAE)

United Arab Emirates is located at the eastern end of Arabian Peninsula. Foreign banks and tax on oil banks are the prime income source for the country. It provides fabulous facilities from teaching to health care. And of course, you can lead a luxurious lifestyle with zero tax. No wonder that UAE tops the list for many as their dream country.

2. Monaco

The second country in our list is also the second smallest country in the world. Monaco is a tax-free country located on Mediterranean Sea. It has the least number of crimes and does not gather any property gains. You may be shocked to learn that, is the costliest country to live in.

Monaco
Monaco Pexels

3. Qatar

Qatar is a country where employees’ salaries, wages and subsidies are exempted from tax. Qatar is a country with surplus Oil, located on the Persian Gulf.

4. Cayman Islands

To live a life with no death duties, estate tax, gift tax, and capital gains tax on universal earnings, you must move to a country located in between Caribbean Sea and the Atlantic Ocean, Cayman Islands.

Cayman Islands
Cayman Islands Pexels

5. Bahrain

Bahrain, a country rich in oil is tax free on sales, estates and capital gains. Bahrain generates its income from fossil fuels and by taxing on oil and gas sectors. It is a small coral isle, with 50 natural and 22 artificial islands.

6. The Bahamas

The Bahamas is a country encircled with palm trees, enclosing aqua - marine waters. The Bahamas perishes from the revenue generated by tourism sector. It is considered to be one of the safest countries for tourism. And it occupies a spot in the list of wealthiest nations of the world.

Bahamas
Bahamas Pexels

7. Saint Kitts and Nevis

Saint Kitts and Nevis, located in middle of Atlantic Ocean and Caribbean Sea, provide financial citizenship programs for foreign citizens. The twin island is devoid of taxes. It generates its revenue from tourism.

United Arab Emirates
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