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Top four tax havens (and why you wouldn’t want to live there)

Tom Elliott
Article image for Top four tax havens (and why you wouldn’t want to live there)

It’s tax time.

3AW Drive’s finance expert Scott Haywood came up with a list of the best places to avoid paying exorbitant taxes. 

But with each, there’s a catch. 

Finance guru’s top four tax havens:

1. Bahamas – ‘To get there you need an employment contract and a long term work permit or the funds to buy a property which are some of the most expensive in the world.’

2. Monaco – ‘You need a contract from the employer approved or piles of cash to be able to get into there.’

3. Mauritius – ‘Non residents pay no tax on income earned outside of Mauritius so that’s where a lot of athletes, actors, entertainers base themselves as taxpayers in Mauritius but still remain Australian citizens.’

4. Bermuda – ‘To move to Bermuda you need to buy a house for over $1 million, and have significant professional, sporting, financial or legal qualifications to get a work permit.’

LISTEN: Scott Haywood explains why paying such low tax isn’t always a good thing

Tom Elliott
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