Brunei, which is located on the Southeast Asian island of Borneo, does not have a personal income tax. Corporate taxes are low, and there are several tax breaks for enterprises.
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Bahrain
Bahrain has minimal taxes compared to other nations. Corporate taxes are favourable, especially for some industries, while personal income taxes are zero.
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Cayman Islands
Another popular tax haven, the Cayman Islands, don't tax people or businesses. However, financial services have costs and requirements.
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The Bahamas
The Bahamas is a popular destination for offshore banking and has no income tax, corporate tax, capital gains tax, or inheritance tax.
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Andorra
Andorra is a tiny European nation situated between France and Spain. Individuals and companies are exempt from income taxes, making it an appealing place to live.
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Monaco
Monaco is famous for being a tax haven, with no income tax for residents. However, other taxes include value-added tax (VAT) and property taxes.
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United Arab Emirates (UAE)
Dubai and Abu Dhabi have tax-friendly policies. There is no personal income tax and modest corporation taxes, with minor exceptions for some industries.