Top 10 Tax Havens in the World

In the words of Benjamin Franklin, the only things that are certain are death and taxes. However, in some countries, taxes aren’t necessarily a sure thing.

Millionaires and billionaires are notorious for transferring their funds into offshore accounts around the world to avoid higher tax rates. A recent study estimated the super wealthy of the world hide approximately $21 trillion abroad. These are the countries that top the list of top tax havens.

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1 / 10

Gibraltar

You’re only taxed for the first $90,000 in income. Just don't live in Spain, which boasts much higher income tax rates than Canada. If seeking out tax havens is not your thing, check out the cheapest cities to live in Canada, instead.

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2 / 10

Bahamas

No capital gains tax, no inheritance tax, no personal income tax, no gift tax. No problem!

For more tax tips, don't miss the top 10 Canadian tax myths. Perhaps it's easier here to join the ranks of the richest people in the world. And the view is not bad either.

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3 / 10

Switzerland

Full or partial tax exemptions, depending on which private bank you use.

You may also like: the free money you're missing out on in Canada. And here is a list of ways you should not spend your money in 2019.

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4 / 10

British Virgin Islands

No income taxes, no capital gains taxes, no inheritance taxes, no sales taxes, only 15 per cent corporate taxes and only 14 per cent payroll taxes. Plus, look at that view. And while not tax-free, here are top 20 places with the lowest taxes in Canada.

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5 / 10

Bermuda

No corporate taxes, no personal income taxes. Turns out the fact that it's one of the best cruise destinations for summer isn't the only reason to venture over there.

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6 / 10

Hong Kong

No sales taxes, no capital gains, a wealth of personal tax deductions and no payroll taxes.

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7 / 10

Nevada, U.S.A.

No capital gains tax, no inheritance tax, no personal income tax, no gift tax. Just a few reasons to extend your visit to Vegas (on top of these 14 free or cheap things to do in Vegas.)

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8 / 10

Wyoming, U.S.A.

No corporate taxes, no inheritance taxes, no franchise taxes, no inventory taxes, no personal income taxes, no unitary taxes, no estate or gift taxes.

Don't forget the importance of these 15 retirement tax tips that'll save your nest egg.

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9 / 10

Channel Islands, U.K.

No value-added taxes, no council taxes, no capital gains.

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10 / 10

Cayman Islands

The full package — no personal income taxes, no capital gains, no corporate taxes, no payroll taxes and the country doesn’t withhold taxes on foreign entities. For more, don't miss the top 25 Caribbean islands revealed.