9 Tax-Free Countries in 2024

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1. Bermuda

GDP Per Capita (2022): $106,866

Bermuda is a tax-free jurisdiction and does not have any sort of taxes. It does not have an income tax, net wealth tax, inheritance tax, withholding tax, and VAT. Bermuda is a small, tourism- and construction-based, territorial-island economy. The country is a tourist destination and is a known offshore banking hub.

Bermuda only assesses a payroll tax on employers per the Payroll Tax Act of 1995. The country has a GDP per capita of $106,866 and ranks first among the tax-free countries in 2024.

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