The Best Tax Haven Property Investment Is?
Tax is, quite simply, one of those things that the vast majority of us have to deal with as we grow older. Though it may not be the most enjoyable thing to deal with, it simply must be done. Failure to deal with tax can have some quite serious consequences, therefore making it really quite important. As investors, quite often we look for tax havens. A tax haven can be defined as a place with low effective rates of taxation for foreign investors. These sorts of places allow us to maximise profits and revenue, thus allowing us to earn more. Finding a tax haven can be quite difficult sometimes, so let us briefly have a look at some of the best tax havens for property investment.
One place that is often labeled as a tax haven is the British Virgin Islands. These islands have no personal tax on personal income, meaning that you needn’t lose money. What is more, taxation on property is relatively good; foreign investors must simply pay a 12 per cent tax when aiming to purchase or sell a property. For these reasons, the British Virgin Islands can be considered as a tax haven.
The Channel Islands are also considered to be a tax haven by some experts. This largely due to the fact that new buyers are given a reduced income tax cap upon their first four years of purchasing a property. This is really helpful for investors, and so the Channel Islands truly deserve the label of a tax haven.
These are just two examples of tax havens across the globe. If you are looking for a tax haven, make sure you look thoroughly so that you can benefit as much as possible from your investment.