Oman Is the Most Affordable Tax-Free Country to Relocate to in 2024?

[blockchain4ever]

Granted that Oman has a bit better Democracy Index than UAE, the issue with dictatorships in general is the law and rules unreliability. It appears that anything can change faster than anywhere in this part of the world.

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For one who looks for long term stability maybe rather look for a country not strictly ruled by a single supreme leader.

Is this true though? Where is the proof? I think those things correlate weakly. I present covid restrictions as exhibit #1.

And please differentiate between dictatorships and totalitarian states.

I think the future might be bright for dictatorships that allow for people to freely move in and out. That is going back to the city states of Italy.

 

[daniels27]

I think Pitcairn is cheaper.

Yes Oman is tax free and under the radar. But most often, there are reasons for this. And those are in almost all cases the same:

1. Lack of entertainment with alcohol. Hipsters need to be able to show it on Instagram. Otherwise how would you know about it. A place that is tax free and good for family life will never get the attention of Dubai. Parents are happy and enjoy quality time with the family. They are not showing if online.

2. It takes more time to get in and out. Like no direct flights or only few.

If you are in no need for high class restaurants and pubs, it is good. It you are single and need butchers, you may be better off in Amsterdam.

 

[Cloudbanck]

Agreed.
In my opinion, the least worse solution is currently all the mismanaged corrupted countries that won't bother a relatively wealthy foreigner keeping low profile.

Yes, exactly this. Such countries are surprisingly more stable for long term planning also. You dont have to worry about them introducing personal income tax, or messing with the corporate tax or something, because they dont bother with foreigners keeping a low profile anyway, especially if the foreigner's income is from outside the country.
There is typically no such thing as a personal tax return in these countries, as it doesnt make sense when a significant proportion of the population is illiterate. And addresses arent clear, generally streets have no names or numbers, and the government doent have much registers to keep track of people. And a large chunk of tax income comes from import and export duties, so as long as you dont have to bring goods in or out of the country you are good.

 

[daniels27]

Yes, exactly this. Such countries are surprisingly more stable for long term planning also. You dont have to worry about them introducing personal income tax, or messing with the corporate tax or something, because they dont bother with foreigners keeping a low profile anyway, especially if the foreigner's income is from outside the country.
There is typically no such thing as a personal tax return in these countries, as it doesnt make sense when a significant proportion of the population is illiterate. And addresses arent clear, generally streets have no names or numbers, and the government doent have much registers to keep track of people. And a large chunk of tax income comes from import and export duties, so as long as you dont have to bring goods in or out of the country you are good.

Which ones would you personally recommend?

 

[Cloudbanck]

I like Sub-Saharan Africa, except South Africa. Lots of chaotic mismanaged countries that leave foreigners alone. DM for more details!

And to stay on topic, Offshore Citizen did a video about Oman a while back:

Basically saying that it is an underrated zero income tax country, that has the features that some people complain about for Dubai: nature and culture. Still Oman has 15% corp tax with no allowance before it kicks in, and corp tax applies on foreign companies with PE in Oman. Also dividends from foreign companies are taxed, so it's not a great place for a holding company.

 

[bubbledouble]

I like Sub-Saharan Africa, except South Africa. Lots of chaotic mismanaged countries that leave foreigners alone. DM for more details!

what details you can provide?