Bilanz Homes, Switzerland’s real estate magazine just published a very interesting article on some of the world’s most interesting tax havens worth to by a property. Switzerland itself is one of the investment friendliest countries in the world so Swiss citizens more likely looking for a place to escape the cold and wet winter weather, but where they still enjoy financial advantages.

Countries on that list who are offering a very mild and warm climate, white sandy beaches with palm trees and a relaxing lifestyle are St. Kitts, Bahamas , Croatia and Malta just to name a few. St. Kitts for example features a very tax friendly climate for foreigners. The 168 square miles big island, part of the British Commonwealth, is a independent country located in the northern group of the Antilles and only approx. 2000km south-east of Miami, Florida. Besides its stunning beaches and crystal blue water it also offers no income tax, no capital gain tax and no inheritance tax. When purchasing a property, there is a 6% stamp duty of the sales price and further 0.2% to be paid into a state insurance fond. The annual property tax is 0.2% of the market value. A nice side effect when buying in St. Kitts is that you will be able to become resident when buying real estate worth more than $400’000. So without a doubt, this is really of interest if you are living in a country where it’s of great advantage to be able to hold dual citizenship so traveling for example will become easier.

One of the rising stars in Europe as being a tax haven is Malta, a small island in the Mediterranean Sea south-west of Italy. The small country with a population of round about 400’000 and with one of the lowest GDP’s in Europe joint the EU in 2004 and the Euro zone in January 2008. Furthermore its part of the Schengen Country. Malta has a unique tax infrastructure featuring very interesting fiscal incentives not only for individuals but also for organizations. Malta has no value added tax and no sales tax. A 5% transfer duty has to be paid when purchasing real estate on the island. There are also no regularly recurring taxes or fees on properties. Officially, you don’t generate income with real estate so there is also no income tax to be paid. A foreign individual who takes tax residence in Malta, is taxed at 15% on the income brought into Malta, whilst organizations that set up a real office in Malta, although still attract a corporate tax of 35%, the foreign shareholders are refunded 30% of the tax within 20 days. Malta is also named “little Hollywood” because its ideal for filming and many box office movies have been shot on the island. The country offers a variety of incentives for aviation and vessel industry. Wetag is offering one of the most sought-after luxury properties on Malta. The townhouse like villa or palazzo is located in Rabat and features stunning interior design by Schembri Design Studio, boasting all luxurious amenities of these days. High end finishing’s and a great setting with the possibility to have also your own office in house make this property a rare find on the island. With all these above mentioned advantages combined with 300 days of sunshine all year round, Malta has seen a huge influx of high net worth individuals, organizations and foreign investment.

Posted By: Peter Rabitz