Interested in taking your career international, but can’t decide where to set up your new life?
There are many factors that can and should influence your decision when choosing your new home – quality of life, climate, culture, safety, healthcare, etc.
One thing many people get excited about in their new location is low tax rates.
Below we have listed our top choices for those looking for a low tax destination!
Lowest income taxes:
- Cayman Island – 0%
- UAE – 0%
- Bahamas – 0%
- Bahrain – 0%
- Bermuda – 0%
- Qatar – 0%
- Saudi – 0%
- Kuwait – 0%
- Guatemala – 7%
- Bulgaria – 10%
There are many countries that are free of Income Tax for their residents, particularly in the Middle East. Also, Guatemala taxes its citizens earning less than 300,00 GTQ (Guatemala Quetzal) only 5% Income Tax, those earning over 300,00 GTQ are taxed 7%. Bulgaria has the lowest Income Tax in Europe, with a flat rate of 10% for all personal incomes.
Other popular locations with low tax rates include Singapore and Hong Kong. Citizens of Hong Kong earning over 135,000 HKD would be taxed the maximum percentage of 17%. In Singapore, there is a range of tax brackets, with the highest earners (earning over 320,000 SGD) being taxed 22%. Hungary’s Income tax rates are also low – up to 15%.
There are many reasons to move abroad. This is just one. Get in touch to discuss opportunities with us and we can guide on the best locations to suit your lifestyle!