17 Countries with Zero Income Tax

1. Monaco 

GDP Per Capita (2022): $240,862 

On top of our list is Monaco with a GDP per capita of $240,862, a sovereign city-state on the French Riviera. Monaco is renowned for its luxurious lifestyle and zero-income tax policy, attracting a significant number of wealthy individuals. Approximately one in three residents in Monaco are millionaires, making it a prime location for high-net-worth individuals. Monaco’s economy is bolstered by tourism, real estate, and banking, with its stable political environment and robust financial regulations further enhancing its appeal.

The absence of income tax, combined with its prestigious reputation and favorable investment climate, makes Monaco a highly desirable destination for investors. Monaco does not have any sort of personal income tax or capital gains tax. In addition, the state has no property taxes. However, rental properties are taxed at 1% of the annual rent excluding other applicable charges. Monaco ranks first among the countries with zero income tax.

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