14 Tax Free Islands to Move to And Pay 0%

About this video

• Video Title: 14 Tax Free Islands to Move to And Pay 0%
• Channel: Nomad Capitalist
• Speakers: [No speaker names available in the transcript]
• Duration: 00:19:40

Overview

This video explores various islands around the world where individuals can potentially live tax-free. It covers options in the Americas, Europe, and Asia, detailing specific tax policies, residency requirements, and citizenship-by-investment programs. The video aims to provide viewers with alternatives to high-tax jurisdictions and offers insights into living a more financially free lifestyle.

Key takeaways

• Caribbean Options: Several islands in the Caribbean, including the Cayman Islands, Turks and Caicos, Bermuda, St. Kitts and Nevis, Antigua and Barbuda, and the Bahamas, offer 0% tax rates. Some provide pathways to citizenship through investment or property purchase.
• European Tax Havens: Ireland and Malta offer remittance-based tax systems where only income brought into the country is taxed, potentially allowing for significant tax savings. Sark is highlighted as a completely tax-free island in Europe.
• Asian and Pacific Opportunities: The Philippines and Singapore offer territorial tax systems where only locally sourced income is taxed. Vanuatu is presented as a remote but tax-free option with a fast citizenship-by-investment program.
• Residency and Citizenship: Many of these locations offer pathways to residency through property investment, while some, particularly in the Caribbean, provide citizenship-by-investment programs. Living in these locations is generally a requirement for tax benefits or citizenship.
• US Citizens' Considerations: Puerto Rico is discussed as a viable option for Americans looking to reduce taxes, particularly on capital gains and dividends, through Act 60, though it requires a commitment to residency and involves specific rules.