What Really Matters – Freedom, Low Taxes and Quality of Life
Typical surveys of the best countries in the world to live will choose high tax, expensive countries and judge them based on government services. Nonsense like how easy it is to pay your taxes or which country spends the highest amount of taxpayer money on roads. If those types of lists are useful it’s only to wage slaves of big companies. For our freedom-loving readers we’ve put together a list based on countries where you can live without paying any taxes.
They’re all places where you’ll be left in peace to enjoy a high quality of life. Better and freer than life in the high tax, big government countries that everyone should be planning their escape from.
Portugal has been compared to California. In terms of the magnificent coastline and 300 days of sunshine that could be right. But that’s where the comparison ends. Portugal is a attractive destination for independent expats. You can take advantage of the non-habitual residency scheme (NHR) to make sure you’re not taxed on your income. Real estate is affordable, particularly outside the major cities.
You can get a Portuguese passport after 5 years of living there. Residency formalities are straightforward. Once you’re living in Portugal you’ll be left in peace by the government. There are no surveillance cameras everywhere like in some countries and the locals are welcoming towards foreigners. The cost of living in Portugal is amongst the lowest in Europe.
Portugal is one of the best countries in the world to live for those reasons.
The Bahamas is a pure tax haven in the Caribbean. The Bahamas has zero tax on income capital gains or inheritance. If you choose to move to the Bahamas, you’ll be left in peace after completing the fairly basic residency requirements. You can get residency by buying or renting a property and paying an annual fee to the government. The Bahamas is surrounded by beautiful beaches. There’s a wide selection of properties available to suit different budgets.
The Bahamas is one of the best countries in the world to live for tax haters and freedom seekers.
The Cayman Islands
The Cayman Islands is one of the best countries in the world to live as it has almost no taxes. It’s one of the few countries in the world that doesn’t even have a property tax. The Cayan Islands is an offshore banking haven with many well-paid jobs in the financial sector. The Cayman Islands is the most expensive of our list of the best countries in the world to live. Real estate is expensive here for obvious reasons. You’re a short flight away from the US if you tire of island life. There are residency schemes available for anyone who wants to relocate to The Cayman Islands and take advantage of the purest of pure tax havens.
Thailand never makes lists of the best countries in the world to live. But it has almost everything that freedom seekers need. The big cities in Thailand like Bangkok have every product and service you need. What few people have noticed is that in recent years Thailand has transformed itself into a tax haven for high-net-worth foreigners. Thailand offers everything that more traditional tax havens offer.
There’s no tax on income earned outside Thailand. The Thai Elite visa offers residency for up to 20 years. You’ll pay an annual fee to the Thai government but for that you’ll get VIP treatment at the airport and a series of discounts as well as enjoying tax free life in Asia. Given the natural beauty of Thailand and the friendly, welcoming locals it’s surprising that more wealthy expats aren’t attracted to the idea of living in Thailand.
The city state of Singapore has been a global success story over the last 50 years. It now attracts investors who would have historically gone to Hong Kong. Hong King is becoming less popular as it becomes more authoritarian under Chinese rule. Singapore is arguably the best city to live in in Asia. It offers every service imaginable. This includes some of the best banks and wealth management services on the planet.
Singapore is tax free for income generated outside the country. In recent years it has attracted high profile foreign billionaires like James Dyson to live there. Residence permits, while not as easy as they once were, are possible. Singapore is interested in attracting high tech entrepreneurs and employees.
Uruguay has often been referred to as the Switzerland of South America. It has never suffered the economic woes of neighbouring Argentina. It’s a small and peaceful country suited to those who want a quiet life in the Southern hemisphere. Uruguay is keen t attract families to live there. A family will qualify for citizenship of Uruguay faster than single applicants.
Uruguay didn’t have income taxes at all until 2007. For foreigners with income from outside Uruguay it’s still a zero-tax haven. That’s the main reason why Uruguay is one of the best countries in the world to live.
Costa Rica is a peaceful, Central American country that abolished its army in 1946. Costa Rica is a land of volcanoes and beaches. It’s nestled between the Caribbean and the Pacific. You can choose to live in the Caribbean region, the Pacific coast, or the Central Valley where the capital San Jose is located. This area has a year-round spring like climate with temperatures staying between 21-25C year-round.
Costa Rica has a territorial tax system. Any money you earn outside Costa Rica is tax free. Once you’ve completed the residency formalities you’ll be left alone by the Costa Rican state You can live in this tropical paradise all year in a perfect tax free climate That’s what makes Costa Rica one of the best countries in the world to live.
Ireland is a neutral country located off the coast of Great Britain. It’s in the unique position of being a member of the European Union but also having a Common Travel area with the United Kingdom. Ireland is an English-speaking country so a good choice for those who prefer not to learn a second language. Ireland is well known as a low tax country for corporate giants. Companies like Google have their European headquarters in Ireland for that reason.
What’s less well known is that Ireland can be a tax haven for individuals too. Ireland operates the remittance tax system for income arising from outside the country. This means that you’ll only pay tax if you send money earned outside Ireland to he country. With proper planning you’d never have to do this so could live in Ireland tax free. You can get Irish citizenship after 5 years of living in Ireland. Ireland is not a place for those seeking sunshine but for tax free living in an English speaking, European country with a valuable European citizenship in a few short years, it’s a great option.
What are the 10 best countries to live in the world?
We have listed 9 of the best countries based on freedom and low taxes.
Which country is No 1 in world?
That depends on what you’re looking for. For some people a pure tax haven like The Cayman Islands may be number one. For others it may be too quiet and they’d prefer to live in a big city like London or New York. The truth is that no one place is perfect for everybody.
Which is the best country to live in the future?
Countries in Asia and perhaps South America may offer the best opportunities in the future.
Which country to move to start over?
That depends what you’re looking for. If you’re prepared to learn a new language countries in Eastern Europe and South America offer great opportunities to start over.
Which country is the safest?
Iceland is considered the safest country in the world. Countries like Portugal and Monaco are amongst the safest countries in the world too.
If you’re interested in getting a second passport, moving overseas, reducing your taxes and protecting your assets get in touch with us below.