British expat destination has ‘virtually no taxes’ and is ‘breathtaking!’ | Travel News | Travel
Many British people are fed up with life in the UK. But where will British expats barely pay any tax?
The property experts at Your Overseas Home looked at the best destinations in the world for British expats.
One stunning destination offers expats the chance to live next to the beach and barely pay any tax.
Christopher Nye, chief editor at Your Overseas Home, said: “If you’d like to lose less of your hard-earned money in tax, perhaps life in a former British colony where there are virtually no taxes will appeal?
“The Bahamas is idyllic. It’s made up of 29 islands and 661 keys (sandbanks or coral reefs) many of which are large enough to build your dream home on.
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“While you once only required $500,000 (£445,692) to secure a Golden Visa, the Government is looking to increase this to $1million (£891,385).
“So act fast! Additional perks to moving to the Bahamas include easy access to Miami in just 55 minutes.
“From there you can catch affordable flights to the rest of the world.”
Citizens of the Bahamas do not pay taxes on income, inheritance, gifts or capital gains. Those in employment pay national insurance contributions.
DON’T MISS
The Bahamas is a popular tourist destination and it’s not hard to see why with its many stunning beaches.
One visitor to Jolly Hall Beach wrote on Tripadvisor: “Secluded, private, breathtaking beach.
“Such an amazing beach. Snorkelling opportunities, sunbathing, white sand and private. Don’t miss this amazing beach.”
Jolly Hall is the Bahamas’ best-rated beach on Tripadvisor but there are many more incredible spots to discover.
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The Bahamas is generally a safe country although expats should be cautious in some areas at night due to risk of robbery.
Expats can drive in the Bahamas with a valid UK licence for up to six months but will need a local licence after that.
The majority of expats live on New Providence Island where over two thirds of all residents live.
However, expats should be aware that the cost of living in the Bahamas is quite high despite low taxes.
