Expatriation

the top 5 least taxed countries in 2014 - Bradley Hackford

Expatriation: the top 5 least taxed countries in 2014 - Bradley Hackford

Bradley Hackford firm publishes its 2014 rankings of the 5 main countries where it is interesting to establish a physical and tax residence. These countries impose neutral or low tax rates on individuals.

The rankings are established based on 5 criteria:

-The rate of tax burden for individuals residing in the country

-The country's quality of life

-The country's legal and physical security

-The quality of the economic investment program developed by the local government to encourage new residents in the country to invest. Document processing speed is also taken into account in this criterion.

-The country's geographical location, its accessibility, and its recreational opportunities

 

1 - Bahamas

The country's location in the immediate vicinity of the United States, as well as its tax rate of 0% on individual income, make the Bahamas the first jurisdiction of choice for establishing physical and fiscal residence. Moreover, the country offers an excellent quality of life and political stability that makes it completely satisfactory. Obtaining residence requires making a local real estate investment, with a minimum value of $500,000 US (minimum value of $1,500,000 US for the accelerated process).

=> Personal income tax rate: 0%

2 - Andorra

A small principality located between France and Spain, Andorra is an ideal destination to establish residence in Europe.

Andorra attracts both French and Spanish border residents due to its very favorable taxation. It also draws non-European foreigners, particularly Russians, who appreciate the country's geographic location as well as its high level of security. Obtaining residence requires making a minimum investment of 350,000 euros in the country and making a deposit of 50,000 euros.

=> Personal income tax rate: 0 to 10%

3 - Monaco

The Principality of Monaco, with its upscale recreational opportunities and its recognized security, attracts many residents from various countries, especially Italy, Russia, and more recently from Switzerland. Obtaining residence requires being able to demonstrate significant financial wealth. Living in Monaco allows people to benefit from the total absence of income taxes (except for people of French nationality who continue to pay their taxes in France).