While we are not condoning tax evasions, tax haven locations from the British Virgin Islands to Monaco and Switzerland are fascinating places for quick holiday breaks. In the footsteps of offshore companiesâ€¦
Tax is a necessary evil in many parts of the world, but there are places where you can go to reduce or even rid yourself of this burden. Here are some beautiful getaways to hide out in when you want to get more bang for your buck.
1) The British Virgin Islands
This collection of islands is home to more offshore financial companies than any other place on the planet. It’s also a popular vacation spot with tons of tourist attractions.
With plenty of sunshine, romantic beaches, deep-blue waters, and a number of high-end resorts, there’s so much that people find attractive aside from the tax benefits.
2) The Cayman Islands
This Caribbean paradise is a shopaholic’s dreamland. With no sales tax to worry about, you can shop till you drop. If you happen to be lucky enough to live and work on the Cayman Islands, expect to take home every single penny that you earn.
Monaco has brought together a mix of people from all corners of the globe, and all of them share a common love – money.Â Many businessmen reside in Monaco to escape paying taxes on the earnings that they make elsewhere.
In addition to all the financial loopholes, Monaco is an extremely beautiful and scenic city-state that borders the Mediterranean Sea. With a big gambling, racing, and boating scene, there is no shortage of entertainment on this little slice of heaven.
The Swiss are some of the richest people on Earth, and some outsiders are catching on to one of their biggest secrets–those big, bad Swiss bank accounts.
Considering that the country is filled with natural beauty, quaint country towns, modern cities, and more high-class restaurants and bars than you can handle, it’s also a pretty good place to live.
The largest tax benefit coming from Bermuda applies only to businesses, unfortunately. Taxes are very low for income earned from inside the British territory and completely nonexistent for that coming from the outside. Bermuda is also home to a whole spectrum of touristy activities like golfing, scuba diving, and other beach sports.
On this tiny island, any income from external regions is untaxable. That means you can roll in the dough while sitting pretty at a hip cantina sipping on a refreshing mojito. Afterwards, you could decide to take a hike in the hills, go mountain biking, or visit some of the historical sites like the various castle ruins scattered around the island.
So there they are, six tax havens where you can have the time of your life. There’s nothing better than having more moolah to spend in your favorite vacation destination.
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