What tax haven is actually worth it?

[Amenity]

So-called tax havens like Monaco have zero tax rates for income, capital gains etc. but the cost of living in those countries are horrendous.

Are there any tax havens that are actually worth it?

 

[terryuk]

I can only guess that someone who banks in Monaco, has that much that they don't care about the cost of living.

I think a like with most places you chose to live, there are bad and good of all but defining what is actually worth it would require you to research yourself.

 

[Amenity]

True. I have done some research and have yet to find a place that has a low/zero income tax rate with a reasonable cost of living.

 

[terryuk]

True. I have done some research and have yet to find a place that has a low/zero income tax rate with a reasonable cost of living.

Hong Kong?

Never been there though?

I would look at the quality of living, aside from the costs personally.

 

[Amenity]

Sure, but if one was to become a resident of a tax haven, they'd want to make sure it's cost-effective too! I will have a look.

 

[terryuk]

Pointless being cost effective if you get mugged going to the bank

 

[10032012]

So-called tax havens like Monaco have zero tax rates for income, capital gains etc. but the cost of living in those countries are horrendous.

Are there any tax havens that are actually worth it?

Are you a lemon?

Tax havens aside, pick London... cost of living is extortionate!!

Then think back to these Tax Havens with also high costs of living... really is a no brainer?

 

[Amenity]

Are you a lemon?

Tax havens aside, pick London... cost of living is extortionate!!

Then think back to these Tax Havens with also high costs of living... really is a no brainer?

I think Monaco may the best "tax haven", but things can be up to 3 times the price of things in the UK, like rent/house prices.

BUT you can stay 6 months out of Monaco each year, so it could work out to be a good option.

For e.g. 6 months in UK, then 6 months in Monaco with up to 3x higher prices (could be on/off), all the while paying no tax.

I guess the benefits would outweigh the costs.

 

[10032012]

I think Monaco may the best "tax haven", but things can be up to 3 times the price of things in the UK, like rent/house prices.

BUT you can stay 6 months out of Monaco each year, so it could work out to be a good option.

For e.g. 6 months in UK, then 6 months in Monaco with up to 3x higher prices (could be on/off), all the while paying no tax.

I guess the benefits would outweigh the costs.

what? buy a property in monaco but only use it for half a year? are you a crazy billionaire?!

 

[Brunei]

China has low income tax and the cost of living is very very cheap. To live like a westerner you can spend on average £10 a week- excluding rent. I have just returned from there. Renting is dirt cheap also. I stayed in a very large 3 bed apartment for £450 a month. Sharing an apartment will set you back £200 month.

If you live like the Chinese I am sure you could spend half of what I did.

Only downside is the quality of living. I personally couldn't see myself living there just to save a bit of money...