List of Tax Havens

What is a Tax Haven?

Countries known as tax havens are jurisdictions that allow businesses and individuals to pay minimal or no taxes. These countries offer tax advantages to companies and high-net-worth individuals. These countries often have high financial privacy laws and low residency requirements. Tax havens provide offshore banking services for foreigners and businesses who want to avoid paying income taxes in their countries of residence.

Cayman Islands

The Cayman Islands is a British Overseas Territory located in the Caribbean, West of Jamaica and South of Cuba. The islands are self-governing and exist out of three islands: Grand Cayman, Cayman Brac, and Little Cayman. The total population is approximately 88,000 (as of 2004), and the total land area is roughly 260 square meters.

The islands have no income tax, capital gains tax, property tax, wealth tax, corporation tax, payroll tax, or withholding tax, making them a popular tax haven. There are more than 100,000 companies registered on the islands. Indirect taxation is the government's primary source of income.

British Virgin Islands

The British Virgin Islands is a British Overseas Territory located in the Caribbean, consisting of 36 islands situated East of Puerto Rico and North of the U.S. Virgin Islands. The islands are self-governing, and the four most important islands are Tortola, Virgin Gorda, Anegada, and Jost Van Dyke. The total population is approximately 37,400 (as of 2020), and the total land area is roughly 151 square meters. The primary spoken language is English.

The primary sources of income are tourism and offshore financial services. The two central taxes are Property Tax and Payroll Tax. Individuals are not subject to capital gains tax, no gift tax, no sales tax or value-added tax, no profit tax, no inheritance tax or estate duty, and no wealth tax.