The secret place to hide money of the super rich 0
Billionaires and millionaires are flocking to these places to take advantage of tax law loopholes to open bank accounts and establish shell companies.
Recently, the US Tax Service (IRS) announced that it will monitor US citizens with accounts abroad.
According to Business Insider, below are the most popular places for the super rich.
Billionaires and millionaires are flocking to these places to take advantage of tax law loopholes to open bank accounts and establish shell companies.
Recently, the US Tax Service (IRS) announced that it will monitor US citizens with accounts abroad.
According to Business Insider, below are the most popular places for the super rich.
1. Belize
Famous for the Great Barrier Reef and scuba diving, Belize is a tropical paradise in the Caribbean and a place for those who like to do as they please.
There are two ways to become a citizen of Belize, including applying for permanent residence and participating in the Qualified Retiree Program (QRP).
1. Belize
Famous for the Great Barrier Reef and scuba diving, Belize is a tropical paradise in the Caribbean and a place for those who like to do as they please.
There are two ways to become a citizen of Belize, including applying for permanent residence and participating in the Qualified Retiree Program (QRP).
2. British Virgin Islands
The British Virgin Islands (BVI) is also an oasis in the Caribbean and is famous for the secrecy of its banking system.
Income tax in the BVI is 0%, which means you will not have to pay any taxes, including corporate tax, capital gains tax on investments or trade, gifts, consumption tax or property tax.
Real estate owners or real estate investors can become part-time residents in the BVI.
2. British Virgin Islands
The British Virgin Islands (BVI) is also an oasis in the Caribbean and is famous for the secrecy of its banking system.
Income tax in the BVI is 0%, which means you will not have to pay any taxes, including corporate tax, capital gains tax on investments or trade, gifts, consumption tax or property tax.
Real estate owners or real estate investors can become part-time residents in the BVI.
3. Cayman Islands
For decades, the Cayman Islands have been a familiar tax haven for many multinational corporations in the US.
The Cayman government does not tax corporations, income, investment profits, commercial profits, or property.
3. Cayman Islands
For decades, the Cayman Islands have been a familiar tax haven for many multinational corporations in the US.
The Cayman government does not tax corporations, income, investment profits, commercial profits, or property.
4. Costa Rica
Costa Rica attracted 2.52 million tourists in 2015. This country in Central America is famous for its tropical forests, pristine beaches and majestic waterfalls.
In Costa Rica, businesses do not pay income tax on foreign profits, taxes on interest, capital gains, and dividends.
4. Costa Rica
Costa Rica attracted 2.52 million tourists in 2015. This country in Central America is famous for its tropical forests, pristine beaches and majestic waterfalls.
In Costa Rica, businesses do not pay income tax on foreign profits, taxes on interest, capital gains, and dividends.
5. Monaco
Monaco is famous for the Monte Carlo casino and the Monaco Grand Prix racetrack of Formula 1. Therefore, this is considered the playground of the super rich around the world.
The Monaco government does not tax income, investment profits and inheritances.
5. Monaco
Monaco is famous for the Monte Carlo casino and the Monaco Grand Prix racetrack of Formula 1. Therefore, this is considered the playground of the super rich around the world.
The Monaco government does not tax income, investment profits and inheritances.
6. Seychelles
Seychelles consists of 115 islands in the west coast of Africa.
The Seychelles government does not tax income, investment profits, gifts and property.
6. Seychelles
Seychelles consists of 115 islands in the west coast of Africa.
The Seychelles government does not tax income, investment profits, gifts and property.
7. Panama
Panama is one of the fastest growing economies in Central America.
The country’s government does not tax income, dividends and investment profits.
7. Panama
Panama is one of the fastest growing economies in Central America.
The country’s government does not tax income, dividends and investment profits.
8. Puerto Rico
Puerto Rico is a US territory but applies its own tax laws.
Accordingly, American citizens here will be exempt from taxes on interest, dividends and investment profits without having to give up their old citizenship.
8. Puerto Rico
Puerto Rico is a US territory but applies its own tax laws.
Accordingly, American citizens here will be exempt from taxes on interest, dividends and investment profits without having to give up their old citizenship.
Kim Dung (according to BI)
