There are many countries around the world that attract foreign investors and businessmen with their lenient tax policies. These countries offer a wide range of benefits, making them an ideal place to do business and invest. Learn more about the countries with the lowest taxes for foreigners in 2024

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Often, foreigners want to register their business or work abroad, but for this it is necessary to take into account not only the profit, but also the amount of taxes.

Today, many people seek to minimize their financial obligations, including tax expenses. In this context, countries with a low tax level, which are becoming attractive to entrepreneurs and investors from all over the world, attract special attention.

We offer you an overview of the TOP-5 countries with the minimum tax burden. The editors of Visit World have prepared this material for those who are looking for opportunities to do business and live abroad, avoiding excessive financial costs.

To learn more about which countries will be the easiest to obtain dual citizenship in 2024 and which countries prohibit having a second passport, please follow the link.

TOP-5 most favorable countries for doing business

1. Monaco 

Monaco, located on the French Riviera, is famous for its atmosphere of luxury and attracts the wealthy from all over the world. The principality is known for the absence of taxes on personal and corporate income, which makes it an attractive destination for wealthy individuals.

However, there are several important aspects to consider before choosing Monaco for your residence:

1. High cost of living: Monaco is one of the most expensive places in the world. The costs of renting a house, food and transportation are much higher than in many other countries;

2. Difficulty of obtaining residence: it is not easy to obtain residence in Monaco. To do this, you need to meet strict requirements, including investment in the economy of the principality and the availability of significant financial resources.

2. United Arab Emirates

Dubai, Abu Dhabi and Sharjah are megacities that have become powerful business centers and centers of international trade. The United Arab Emirates attracts foreign entrepreneurs with a number of attractive conditions:

1. 0% income tax: An ideal opportunity for business development without tax liabilities;

2. Developed infrastructure: modern skyscrapers, free economic zones and high-tech parks create favorable conditions for entrepreneurship;

3. High standard of living: luxurious hotels, restaurants and shopping centers make the UAE attractive even for the most demanding residents.

However, there are several aspects worth keeping in mind:

1. To do business in the UAE, you need to obtain a special visa;

2. Living in Dubai or Abu Dhabi can be quite expensive, especially in comparison with other countries in the region.

3. Saint Kitts and Nevis 

St. Kitts and Nevis are picturesque islands in the Caribbean that offer unique opportunities for investors. Becoming a citizen of this country gives you significant advantages:

1. 0% income tax: you can do business and manage your finances without tax restrictions;

2. Citizenship for investment: by investing $150,000 in real estate or making a donation to a public fund, you will receive a St. Kitts and Nevis passport;

3. Visa-free entry to 150 countries: the ability to travel the world without complicated visa procedures.

This country is ideal for:

1. Remote work;

2. Online business: due to low taxes and no currency controls, St. Kitts and Nevis is an attractive destination for entrepreneurs doing business online.

4. Oil countries: Kuwait, Bahrain, Qatar 

The Gulf states are known for their rich oil and gas reserves and offer unique opportunities to foreigners:

1. Personal and corporate income taxes are among the lowest in the world, making these countries attractive to investors and entrepreneurs;

2. Modern infrastructure, quality education, a developed healthcare system and a high level of security ensure a comfortable stay for everyone who chooses these countries to live in.

However, it is worth considering:

1. It is not always easy for foreign workers to obtain a work permit, especially those without special qualifications;

2. In some regions, the Internet can be unstable, which creates certain difficulties for those who work online.