Tax Havens For When You Win The Lottery

(credit: Thinkstock)
Andorra
Andorra, a small country nestled between Spain and France, doesn't have any income tax for individuals or companies. It's only real taxes are customs duties, local property taxes and corporate registration fees.
(credit: Thinkstock)
(credit: Thinkstock)
Anguilla
This British territory in the Caribbean is a neutral tax jurisdiction. There are no income, capital gains, estate, profit or other direct taxes on people or companies. You don't even have to be a resident. With beaches like this, why keep your vast fortune anywhere else?
(credit: Thinkstock)
(credit: Thinkstock)
Bahamas
The Bahamas is a collection of islands southeast of Florida. This popular vacation destination offers fun in the sun but doesn't tax personal income, capital gains, inheritance or gifts.
(credit: Thinkstock)
(credit: Thinkstock)
Bermuda
Bermuda doesn't currently offer much in the way of tax benefits for individuals, but businesses are totally exempt from income and capital gains taxes. So if you just won the lottery and want to start a business on an island in the Atlantic, Bermuda might be the best place for you.
(credit: Thinkstock)
(credit: Thinkstock)
Cayman Islands
The Cayman Islands, in the western Caribbean, relies solely on import duties, tourist fees, licensing fees and other indirect methods of taxation. Investors don't have to pay income, capital gains, gift or estate taxes.
(credit: Thinkstock)
(credit: Thinkstock)
Cyprus
Cyprus, in the eastern Mediterranean, just south of Turkey, is home to beautiful beaches, historical landmarks and an extremely low corporate tax rate (10%). And, as if that weren't enough of a draw, there is no capital gains tax or withholding tax on offshore companies.
(credit: Thinkstock)
(credit: Thinkstock)
Dubai
The benefit of managing investments or companies in Dubai is that there are no taxes of any kind. This Middle Eastern state - part of the United Arab Emirates - won't audit you, nor will its government agencies require you to share information.
(credit: Thinkstock)
(credit: Thinkstock)
Gibraltar
This British territory, located at the opening to the Mediterranean is a great place to run a company, as long as you're not a resident. According to Gibraltar law, a company managed by a non-resident enjoys tax exempt status.
(credit: Thinkstock)
(credit: Thinkstock)
Hong Kong
What's most attractive about investing or saving money in this small-city state along the south coast of China? Hong Kong isn't part of the Organization for Economic Cooperation and Development (OECD). They still charge taxes, but the percentages are way lower than the international average.
(credit: Thinkstock)
(credit: Thinkstock)
Luxembourg
Luxembourg has long been one of Europe's most popular tax havens, with some of the strongest secrecy laws around. More recently, the country has moved, with some success, to overcome its haven status.
(credit: Thinkstock)
(credit: Thinkstock)
Monaco
Monaco is an independent city state situated along the scenic French Riviera. Although Monaco charges taxes to companies and French residents, the country's taxes are extremely low. Foreigners can stay tax exempt.
(credit: Thinkstock)
(credit: Thinkstock)
Panama
Panama, one of the most beautiful countries in the Caribbean, does not charge any tax on income produced from sources outside the country. That includes proceeds from sales made outside of the country.
(credit: Thinkstock)
(credit: Thinkstock)
Saudi Arabia
Saudi Arabia is so rich in natural resources like gold, coal, uranium and oil that the economy doesn't rely on corporate taxes as a primary source of revenue. Their taxes range from extremely low to nonexistent.
(credit: Thinkstock)
(credit: Thinkstock)
Switzerland
Switzerland is the #1 tax haven in the world. This mountainous European nation has a long history of bank secrecy. On top of that, the Swiss do not consider tax evasion to be a crime. What more could you ask for?
(credit: Thinkstock)
(credit: Thinkstock)
Vanuatu
Besides beautiful views and great weather, this South Pacific island nation offers protective banking secrecy laws as well as privacy and confidentiality for its clients. Vanuatu will take care of your money.
(credit: Thinkstock)
Categories: Lighter Side Of Taxes

Latest Galleries

The KDKA Spaghetti BreakfastThe 33rd Annual KDKA Spaghetti Breakfast was at Heinz Hall Garden Plaza on Friday, September 9th.
The Kickoff Party presented by 84 LumberPictures from The Kickoff Party on Thursday, September 8, 2016 at the PNC Champions Club at Heinz Field.
Smoke Rises Over City During Tarp Fire On Liberty BridgeThick plumes of smoke rose over Pittsburgh on Friday, Sept. 2, 2016, when a tarp caught fire on the Liberty Bridge. The fire shut down the bridge, bringing traffic to a standstill for the start of Labor Day Weekend.
Steelers Open 2016 Training Camp At Saint Vincent CollegeRejoice, Pittsburgh! That special time of year has arrived… football season! The Pittsburgh Steelers are back at Saint Vincent College in Latrobe for Training Camp 2016.
Ambush Leaves Police Officers Wounded, Dead In DallasFive police officers were killed and others wounded in an ambush attack during a protest in Dallas,Texas, on the evening of July 7, 2016.
West Carson Street Hillside BlastIn the early morning hours of July 6, 2016, crews blasted a hillside along West Carson Street, bringing down loose rock and debris after a landslide.
Pittsburgh Penguins Stanley Cup Victory Parade 2016Thousands of people flocked downtown on Wednesday, June 15 to celebrate the Pittsburgh Penguins 2016 Stanley Cup victory.
Meet The Big Brother Houseguests

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Pittsburgh

Bringing You The Best in Sports Talk Radio
New Podcast Network
Learn How

Listen Live