15 Countries with No Income Taxes
- Thread starter Locutus
- Start date
You know the hospitals are cash up front in those countries, right?
As a matter of fact I'd venture a guess that everything in those countries is 'cash up front' so to speak.
As a matter of fact I'd venture a guess that everything in those countries is 'cash up front' so to speak.
Well I can't speak for the Oil producing countries (geez, Canada has Oil, why do we have income tax?) but the Caribbean ones noted here, a can of pop of a coffee are $8.00. And those nice pics showing the lifestyles of the rich don't reflect the behind the scenes living standards of the 99%. Simply put, there's no free ride...................
To get a residency permit in Monaco, you have to be able to deposit at least 500,000 euro into a newly opened bank account in Monaco, and rent a place with a minimum square meter of floor space. You cannot have any crime record and your personal details are analyzed against any registry. A residency permit is necessary to get tax relief on income or savings or inheritance. There is, however, 33% company tax charged on profits a Monaco registered company makes on any services or sales outside of Monaco. You have to live in Monaco a minimum 6 months of the year to conform to tax regulations. VAT is 30% in Monaco.
Rents are expensive and anywhere from 100-300% plus than on the french riviera. Sure, once in a blue moon you can find a deal but its not the norm. A small space of 40-50sq mtr is cheap for 2,000 euro a month but can easily cost more.
Monaco has virtually no crime... Its safer to live in Monaco than to work in an embassy! Monaco is heavily guarded and every car that enters get their license plate photographed and checked to a crime registry. Monitored and guarded includes all banking procedures too, which is far more controlled and regulated than regular banking.
Making friends have been known to be very, very difficult because many people own or rent properties in Monaco but are seldom there. But there are expat groups to join and this is the best way to start making friends.
Monaco is very pretty but congested; buildings stand almost back to back and there are no green areas per say apart from a few parks. Activities are quite few so it can get boring. The huge plus is proximity to other places so its easy to get in and out of Monaco and see other areas.
I don't think Monaco is a good solution for anyone seeking to avoid taxes unless they earn millions. The VAT and cost of living in Monaco is so high, you basically pay the difference to any income tax on the double and tripple rates on almost everything you pay for. For example, a drink is 12-16 euro in Monaco, and may be around 4 euro on the rest of the riviera. A small flat that costs 1000 euro a month in other uppity cities, cost around 3000 euro in Monaco.
http://www.google.ca/url?sa=t&rct=j...8oCYBg&usg=AFQjCNFeCNgoH4H-0cvnDsR_K6wXXzlyQQ
To get a residency permit in Monaco, you have to be able to deposit at least 500,000 euro into a newly opened bank account in Monaco, and rent a place with a minimum square meter of floor space. You cannot have any crime record and your personal details are analyzed against any registry. A residency permit is necessary to get tax relief on income or savings or inheritance. There is, however, 33% company tax charged on profits a Monaco registered company makes on any services or sales outside of Monaco. You have to live in Monaco a minimum 6 months of the year to conform to tax regulations. VAT is 30% in Monaco.
Rents are expensive and anywhere from 100-300% plus than on the french riviera. Sure, once in a blue moon you can find a deal but its not the norm. A small space of 40-50sq mtr is cheap for 2,000 euro a month but can easily cost more.
Monaco has virtually no crime... Its safer to live in Monaco than to work in an embassy! Monaco is heavily guarded and every car that enters get their license plate photographed and checked to a crime registry. Monitored and guarded includes all banking procedures too, which is far more controlled and regulated than regular banking.
Making friends have been known to be very, very difficult because many people own or rent properties in Monaco but are seldom there. But there are expat groups to join and this is the best way to start making friends.
Monaco is very pretty but congested; buildings stand almost back to back and there are no green areas per say apart from a few parks. Activities are quite few so it can get boring. The huge plus is proximity to other places so its easy to get in and out of Monaco and see other areas.
I don't think Monaco is a good solution for anyone seeking to avoid taxes unless they earn millions. The VAT and cost of living in Monaco is so high, you basically pay the difference to any income tax on the double and tripple rates on almost everything you pay for. For example, a drink is 12-16 euro in Monaco, and may be around 4 euro on the rest of the riviera. A small flat that costs 1000 euro a month in other uppity cities, cost around 3000 euro in Monaco.
http://www.google.ca/url?sa=t&rct=j...8oCYBg&usg=AFQjCNFeCNgoH4H-0cvnDsR_K6wXXzlyQQ
8O,,,,,,,,"My accountant" has advised me I can't afford to live in any of those 15 places unless I choose to be a street beggar.
Given the standard of living of a street beggar, MY WIFE says we stay here. Shyte, I'd go, eh.;-)
Ah well............:roll: (where'd I put the gaddam snow shovel ?>)
Given the standard of living of a street beggar, MY WIFE says we stay here. Shyte, I'd go, eh.;-)
Ah well............:roll: (where'd I put the gaddam snow shovel ?>)
And what do we have nations that are full of rich and poor with nothing in between.
We have Middle Eastern countries where there is no taxes and no freedom either
they are disguised tyrant states.
Then there are those who use the wealth of the rich in banks and keep their own in
poverty to serve the rich who visit periodically like Santa
Civilization does have responsibilities to the people who live there. The minerals in
the ground belong to all of us we just don't have the guts to use the money for
everyone's benefit. I am not against the rich but at the same time the people of the
world should not be reduced to living off the scraps they want to throw us. At some
point things have to even themselves out and tax money does that.
The problem is not that we pay taxes the problem is the people collecting those taxes
don't spend it wisely that is the problem.
We have Middle Eastern countries where there is no taxes and no freedom either
they are disguised tyrant states.
Then there are those who use the wealth of the rich in banks and keep their own in
poverty to serve the rich who visit periodically like Santa
Civilization does have responsibilities to the people who live there. The minerals in
the ground belong to all of us we just don't have the guts to use the money for
everyone's benefit. I am not against the rich but at the same time the people of the
world should not be reduced to living off the scraps they want to throw us. At some
point things have to even themselves out and tax money does that.
The problem is not that we pay taxes the problem is the people collecting those taxes
don't spend it wisely that is the problem.
commentator said on that link:
A misleading report. For e.g. Monaco has high social insurance taxes payable by both employer and employee. The employer’s contribution is between 28%–40% (averaging 35%) of gross salary including benefits and the employee pays a further 10%–14% (averaging 13%). A tax based on income but called social insurance tax.
A misleading report. For e.g. Monaco has high social insurance taxes payable by both employer and employee. The employer’s contribution is between 28%–40% (averaging 35%) of gross salary including benefits and the employee pays a further 10%–14% (averaging 13%). A tax based on income but called social insurance tax.