20 countries with no personal income taxes

Taxes are necessary evil and cannot be avoided.

In general most of the world countries that tax income generally use one of two systems: territorial or residence-based

• In the territorial system, only local income – income from a source inside the country – is taxed.
• In the residence-based system, residents of the country are taxed on their worldwide (local and foreign) income, while nonresidents are taxed only on their local income. In addition, a small number of countries also tax the worldwide income of their nonresident citizens in some cases.

Many countries have signed tax treaties with each other to eliminate or reduce double taxation.

Do you know that there are 20 places in the world where there are NO personal income taxes?. These places levy zero personal income taxes on local and foreign income

• Non resident individuals
• Resident citizens
• Resident foreigners

Please note in the list below some are dependent territories!

1.  Antigua and Barbuda (C)
2. Bahamas (R)
3. Bahrain (R)
4.  Brunei
5.  Cayman Islands (R*)
6.  Kuwait
7.  Maldives
8.  Monaco (R)
9.  Nauru
10.   Oman
11.   Pitcairn Islands*
12.   Qatar (R)
13.   Saint Barthélemy ^
14.   Saint Kitts and Nevis (C)
15.   Turks and Caicos Islands*
16.   United Arab Emirates  (R)
17.   Vanuatu (C)
18.   Vatican City
19.   Wallis and Futuna ^
20.   Western Sahara

Note: ^  French territory / * British Overseas Territory

Note: The above listed countries also offer citizenship and residence schemes

(C) – Citizenship by investment schemes
(R) – Residence by investment / Golden visa schemes