Tax is one of the biggest reasons for moving abroad, says Jessica Bown in The Sunday Times, and no wonder: the latest survey of personal taxation in "expatriate hotspots" by consultant Mercer shows that the average family can pay less tax in more than a dozen countries.
The "ultimate destination" for those seeking to slash tax bills and boost savings is the United Arab Emirates, where there are no personal income taxes and the average family takes home 95% of their income.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It is sunny 330 days of the year, the "army of Asian labourers provides service 24 hours a day", there's no terrorism, virtually no crime and the schools are good.
One downside is that property prices are rising fast thanks to a recent law allowing the freehold purchase of properties by foreigners in certain areas.
For those put off by Dubais high temperatures, Hong Kong came second in Mercers rankings. Here, couples with two children take home 91% of their annual income.
-
MoneyWeek news quiz: Which G7 nation has the most generous state pension?The chancellor “set the context” for the Budget on 26 November this week, and November's Premium Bonds winners were confirmed. The state pension also made headlines. How closely have you been following the news?
-
Have a will? It may not be enough to secure your wishes – here’s what you need tooIncorporating a letter of wishes into your estate planning can provide a unique opportunity to personally guide your loved ones on your final wishes for them and you. We explain how a letter of wishes works.
