Country without income tax: is it possible? There are currently 14 countries with zero income tax in the world. Among them are the following: Antigua and Barbuda, St Kitts and Nevis, UAE, Vanuatu, Brunei, Bahrain, the Bahamas, Bermuda, Cayman Islands, Monaco, Kuwait, Qatar, Somalia, and Western Sahara. In addition to countries with zero income tax, there are low-tax regions. This article will also …
14 countries with no income tax: where to move to to minimise the tax burden Читать далее
Documents for opening a bank account in Greece The procedure of applying for an account in a Greek bank starts with collecting documents. Clients should confirm their identity, source of income and place of residence. The applicant provides some of the following documents, depending on the requirements of the bank: Requirements to open bank accounts for foreigners in Greece The bank may refuse to serve a foreigner without an EU residence permit and not explain the reason. You can get a residence …
Benefits of a UAE bank account International transactions with no foreign exchange control. UAE banks support the IBAN system — this means that their clients can freely get payments from Europe. Aside from that, in the UAE, there are no legal restrictions on withdrawing money abroad. The high security of banks is confirmed by international credit rating agencies. Fitch sovereign rating for the UAE stands at AA- with a stable outlook, which is the third best …
Cyprus tax system Cyprus’ taxation system obliges its tax residents to pay a specific set of taxes, including income taxation on their worldwide income, regardless of their residence status. The 60-day rule provides for five requirements: Cyprus provides its citizens and expatriates with excellent taxation policies and incentives. To be a tax resident, foreigners can have a permanent residence by investing in real estate or funds. A person who …
Cyprus tax benefits for residents and non-tax residents Читать далее
Overview of the Andorran taxation system Andorran taxpayers are natural persons and legal entities. They can be either considered the country’s tax residents or non-residents. The status defines the applicable taxes and their rates. However, a person isn’t considered an Andorran tax resident if they are a frontier worker who daily comes to Andorra from neighbouring Spain or France. The rule applies even if such …
Taxes in Andorra: a guide on one of the lowest taxes in Europe Читать далее
Who pays Turkish taxes? Companies become Turkish tax residents if their registered head office is in Turkey or the centre of all their business transactions is in Turkey. Tax non-residents can be individuals who spend less than six months in one calendar year in Turkey and get income from Turkey. Legal entities are also considered non‑residents if their income source is in Turkey, …
Taxes in Turkey: a complete guide for individuals and companies Читать далее
UAE taxes for individuals A UAE residence visa allows one to become a tax resident of the country and legally optimise their taxes. Foreigners with residence visas do not pay pension tax in the UAE — while, for example, in Portugal, the tax rate for pensions obtained from overseas is 10 to 48%. Tourist taxes. Foreigners pay taxes in the United Arab Emirates on resorts, hotels and restaurants. Several taxes and fees can be included …
Tax system in Montenegro Who is considered a tax resident? An individual becomes a tax resident of Montenegro if they spend more than 183 days in the country. Suppose they spend 183 days per annum neither in Montenegro nor in any other country. In that case, tax residency can be granted to those with a domicile or a centre of personal and economic activities in Montenegro. A legal entity is considered …
Taxes in Montenegro: a taxation system and individual and corporate tax rates Читать далее
Why entrepreneurs set up a business in the UAE Most government services for entrepreneurs have been transferred online to the websites of government departments and apps such as Dubainow and UAE PASS. UAE PASS is an analogue of an electronic signature that gives access to 6,000 services. Using the electronic signature, entrepreneurs can notarise documents and transactions and fill in applications for registering a company. Citizens and residents …
Business in the UAE: how to open a company in Dubai and obtain a residence visa Читать далее
What is an E-2 visa? Individuals need a special visa if they want to move to the USA, start a business or invest in a company there. There are several visas as such, the most convenient is the E-2 Treaty Investors visa. The E-2 Treaty Investors is a non-immigrant visa issued for investors who want to start a business in the USA. It can be your own company or a franchise business. …
E-2 business visa to the USA with Grenada citizenship Читать далее
Who pays taxes in Greece? An individual is considered a Greek tax resident if they spend more than 183 days per annum in Greece. Suppose a person spends 183 days neither in Greece nor any other country. In that case, other grounds like ownership of assets, citizenship, social security registration, and the country where the family reside, and children go to school are taken into consideration. A legal entity is …
Why starting a business in Portugal According to the results of 2019, Portugal was among the top 25 countries in terms of doing business. In 2021, the country was ranked 36th in terms of economic competitiveness in the IMD ranking. Portugal is in the top ten in the world in terms of ease of registering a company. The Portuguese system of quick registration on the Spot Firm allows you to create a company in just over an hour, filling out just one form. Portugal …
Business in Portugal: how to quickly open a company and get a residence permit? Читать далее
Antigua and Barbuda residency programs Tax Residency Program was launched in 1995 to help wealthy individuals get permanent residency in Antigua and Barbuda. You can initially apply for a permanent residence permit according to tax residency program conditions. It's not necessary to get a temporary residence permit at first. Permanent Antigua and Barbuda tax residency requirements: With a permanent residence permit, you can stay in Antigua and Barbuda …
How to get Antigua and Barbuda permanent residency Читать далее
Who pays Caribbean taxes The taxable items and tax rates depend on whether a person or a company is a tax resident. Tax residents are individuals who live in a Caribbean country for more than 183 days a year. Otherwise, they are not tax residents. To permanently live in a Caribbean country and become a tax resident, you need a residence permit, permanent residence, or citizenship. The fastest way is to get …
Caribbean taxes: how much do individuals and companies pay? Читать далее
Vanuatu tax benefits and rates Tax laws of Vanuatu, a country in Oceania, provide equal terms for tax residents and non-residents. Tax residency in Vanuatu is available for people who live there for more than 183 days a year. Non-residents are foreigners and Vanuatu citizens who mostly live abroad. Individuals don’t pay most of the taxes in Vanuatu. Personal income, real estate ownership, wealth tax, inheritance …
Key points about banking in Portugal Banking regulators. Two regulators control the operation of the Portuguese banking system: the Bank of Portugal and the European Central Bank. Security. Portugal follows several protocols to ensure the safety of banking transactions. Namely, the banking system is subject to the EU Regulation 2016/679 of 27 April 2016 and the Law 58/2019 of 8 August 2019. Under the applicable rules, Portuguese banks use data protection systems and …
Banking in Portugal: the best banks for expats and how to open a bank account Читать далее
Who pays taxes in Antigua and Barbuda? Tax rates depend on the tax residency of payers. Individuals become Antigua and Barbuda tax residents if they: Staying in Antigua and Barbuda legally for more than 183 days is possible if you have residence permit or citizenship. Foreigners can obtain Antigua and Barbuda citizenship by investing in the country's economy. The minimum investment amount is $100,000. Investors …
Non-residents stay in St Lucia for less than 183 days per year. Still, they are obliged to pay taxes, but only on the income earned on the island. Taxes for individuals in St Lucia The main taxes paid by individuals are income tax, social contributions, tax on royalties and interest. Meanwhile, there are no taxes on inheritance and capital gains in the country. Income tax in St Lucia is levied on: The country …
Taxes in St Lucia for individuals and businesses Читать далее
The country's official currency, the East Caribbean dollar (EC$), is used to calculate taxes. Its rate is pegged to the US dollar: $1 is equal to EC$2.7. Is an investor with Dominica citizenship obliged to pay taxes in the country? The taxation of individuals in Dominica depends on the status of the taxpayer. They can be tax residents or non-residents of the country. Non-residents are to pay taxes in Dominica if they receive income from sources in the country, …
Taxes for individuals and companies in Dominica Читать далее
How the tax system works in Portugal The main taxes in Portugal are federal. These include the income tax and corporate tax, VAT, capital gains tax, property transfer tax and tax on inheritance. Homeowners and local companies pay taxes to the municipal budget. Tax residency rules depend on the property's value and the region in which the property is located. The income from the tax goes to finance municipal services, such as …
Portugal tax guide: rates, exemptions and payment terms Читать далее
Who pays taxes in St Kitts and Nevis? Receiving dividends from companies in St Kitts and Nevis, transactions related to registration of real estate ownership and business profits are taxed in the country. Investors who obtain St Kitts and Nevis citizenship are not required to pay taxes in the country by default. For calculating some taxes, it is essential whether an individual or legal entity is a tax resident …
St Kitts and Nevis taxes for individuals and companies Читать далее
Who pays taxes in Grenada Grenada citizenship does not oblige the investor to pay taxes in the country. Such an obligation arises only if they buy property in Grenada, register a yacht or a car, open a company or earn income in the country. The rates and tax base depend on whether the investor or their company is a tax resident of Grenada. A tax resident is a person who spends more than 183 …
To live in Malta and run a business there, you need to obtain a Maltese residence permit or citizenship. The Maltese Citizenship Act offers citizenship by naturalization for exceptional services by direct investment over 14 months or longer. For this, you need to invest €690,000 in the Maltese economy and undergo a strict Due Diligence check. Investment in the Maltese economy To the south of Sicily, the Maltese Islands are located on trade routes from Asia and …
Business in Malta: benefits, taxes, and features Читать далее
Entrepreneurs often face problems when entering international markets. The geopolitical situation and economic sanctions can have a negative impact on the work of businessmen from countries whose governments are not popular in Europe. Foreign entrepreneurs are reluctant to make business contacts. It is difficult to open an account in European banks. There are problems with paying for goods and services that a local business based in an “unpopular” country supplies …
What you need to register a business in Saint Lucia In Saint Lucia, you can register an international company of the IBC type — an International Business Company. A package of documents: a memorandum of association, an order on appointment of directors, a certificate of a registered office of the company in Saint Lucia, a statement from the owner of the company that he is of legal age. An authorized capital. Saint Lucia regulations do not specify the requirements for the minimum amount of the authorized …
Why investors get Grenada citizenship by investment Moving and doing business in the USA. Grenada is one of 17 countries that has entered into a mutual investment agreement with the United States. Under the terms of the agreement, citizens of Grenada are eligible to obtain a US E-2 business visa. This is an investment visa that is issued to entrepreneurs and is extended as long as business in the United States develops. The law …
What is tax optimization Tax optimization is understood to mean measures that reduce the taxes an individual or a company pays. This frees up money for business development and other needs. One of the goals of tax planning is to minimize tax liabilities, and this can be achieved by an individual moving to another country or opening a company abroad. Although taxes are high in the United States, …
How to optimize your tax liabilities through a second citizenship Читать далее
Benefits and features of taxation in Malta A Malta tax resident pays up to 35% tax on income and is entitled to tax deductions. The amount of the deduction depends on the marital status of the resident. For example, a married man without children with an annual income of more than €60,000 is eligible for a deduction of €9,905. Malta does not have taxes on gift, inheritance and, in some cases, on property. Another significant advantage of Malta's tax system …
Taxes in Malta: what makes the Maltese tax system attractive Читать далее
