Bulgaria beats Cayman in ‘best of’ low tax places list

| 31/07/2014 | 0 Comments

(CNS Business): Bulgaria, UAE and Mauritius are just some of the countries that have beaten Cayman in a top ten list of low or no tax destinations compiled by a firm specialising in international expatriation. Cayman does make the list but is well out of the top five, down in ninth place, in the ranking by Bradley Hackford. The survey was based on criteria that included quality of life, legal and physical security, economic investment, location and recreational opportunities. Bahamas, tops the list followed by Andorra and Monaco, with just Switzerland coming behind the Cayman Islands.

Cayman achieved only 65% compared to the 95% scored by the Bahamas regarding the survey criteria. The firm said the key areas for assessing its top ten included not just the rate of tax burden for individuals residing in the country, the country’s quality of life, its legal and physical security as well as its location and the quality of the economic investment programmes developed by the local government to encourage new residents in the country to invest.

Document processing speed is also taken into account, the firm said.

With Cayman coming so low down the list, it is clear that with a zero direct tax burden and a great location the islands are coming short in some critical areas that the offshore community promotes heavily as a reason to come to Cayman

See a copy of the report.

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Category: Finance, Financial Services

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