Millionaires are moving to other countries to legally avoid taxes and that is what tax haven countries are made of.
Australia, with its growing economy, is the top destination for millionaires these days.
What makes it exceptional great is the lack of an inheritance tax like in the US for example. English speaking natives, low crime rate with an overall safety are important factors too.
And who can complain about the weather? Every day would be an adventure discovering new landscapes made of spectacular sand beaches and many options for luxury accommodation. Also, there are many areas in which the richest prefer to build houses from scratch from Melbourne or Sydney to Perth.
In a true millionaire fashion, you would be interested to spend an evening afternoon in the Sydney Harbour Exclusive, a luxury yacht charter company in service of VIP clients.
You will cross by Rose Bay, made of properties owned by celebrities.
No running out of champagne, just living that good life.
Finishing with yachts, there are many ways the ultra-rich would take on adventures in Australia. Can't get bored with a Ferrari drive through the magnificent Hunter Valley or Montalto vineyards for example!
The next thing on the list would be to pay a visit to Royal Melbourne Golf Club, the most well respected and recognized golf club in the country. Australia golf fields are mesmerizing with the beauty that nature has gifted them.
Singapore, the most expensive city in the world, which has one of the world's lowest corporate tax rates.
The Lion City is home to approximately 44 billionaires, like Eduardo Saverin, and almost 200.000 millionaires, which are charged a flat corporate tax rate of 17 percent. Many corporate subsidiaries operate here, making Singapore a real hub for corporate expansion.
Crazy Rich Asians movie, is portrayed the lifestyle of Singapore richest, with really prestigious families keeping a low profile. New millionaires who migrate here try to keep up with the cream de la creme of Singapore elite and the crazy luxurious lifestyle they live.
You can have five-star treatments in the Luxury spas, or pay a visit to Singapore's Playground and its casinos, water parks, and carnival rides.
Marina Bay Sand, the integrated resort fronting Marina Bay in Singapore, includes a hotel, casino, museum, shopping mall and infinite view.
Sentosa Island is developed as a resort getaway where besides all the fun it promises is also a place where some of the area's best beaches are located. And the best beaches of Sentosa means the most amazing yachts in Singapore.
Tel Aviv, Israel
One of the top ten cities with most millionaires per square has become a favorite city for tech millionaires in recent years. 106 billionaire moguls like Eyal Ofer and Roman Abramovich live here. It is a city where old money is being diffused with young entrepreneurs willing to locate their companies there. What differentiates Israel from offshore tax havens is a network of tax treaties.
The ultra-rich are coming here as Tel Aviv is becoming more and more of a technological and economic center. The number of millionaires that have decided to come and live here has affected the prices of real estate in general, with the wealthiest living in residential communities mostly in the Mediterranean Sea, in north Tel Aviv.
With its cosmopolitan atmosphere, the Tel Aviv nightlife has become a new trend, with exclusive rooftop parties and Michelin star restaurants. For the best urban experience, go for a walk in Rothschild Boulevard, the most expensive street in the city.
Switzerland, low tax rates of foreign corporations and its top-notch banking system
It all started with Monsieur Mercier back in 1913, he found the tax system of his country very imposing. The solution he was searching for was a Swiss bank that would provide him safety for his money and personal financial information. And he found it in Zurich. For a very long time Switzerland has been considered a tax haven for the ultra-wealthy, also one of the most expensive countries in the world to live in. Switzerland is home of more than 100 billionaires, the richest one being Ernesto Bertarelli.
Company subsidiaries like Pepsi or Morgan Stanley are located here. Other U.S companies benefit from the tax rates of this country.
Mauritius, a low corporate tax rate of 15%
The Mauritius law offers flexibility by offering privacy for individuals and corporations, thus encouraging investments. Mauritius is also a location where corporations chose to open subsidiaries. It is an offshore jurisdiction offering services like banking, insurance, investment fund management, etc. Also, there are no exchange controls, meaning that the funds can be transferred from offshore bank accounts and corporations without any limitations.
If you were to live here with a millionaire status, yacht dinners would be the norm. Cocktails and good food from exceptional chefs are the right ways of having a happy hour. To be exact the cruise takes three hours, which passes by very quickly. Horse racecourse screams millionaire mood! The second oldest in the world is found in Mauritius, "the Champ De Mars" in Port Louis.
With the racing season lasting from April to November, who can participate yourself in these hardcore races, or see others do this and put a bet on them.
The aristocrat dream lived on a faraway beautiful island.
Monaco, no tax for its residents and no direct tax on companies
This is the reason why some of the world's wealthiest people live in this small country. 1 of 3 people living here is a millionaire!
Companies that earn revenue from patents or artistic property rights are subject to a tax of 33.33 percent on profits, also the same for companies earning more than 25 percent of their revenues outside of the country. You can find here yachting enthusiasts, ski resorts, epic attractions like the Formula One Grand Prix or Casino de Monte-Carlo Casino, so many different locations and activities when you can choose from.
The Carre dOr area is the most expensive area of Monaco, in the center of which is the famous Place Du Casino. Fontvieille is the newest residential area, while La Condamine is the oldest, home of Port Hercules, the harbor of mega yachts.
Malta, where international pay 5 % in corporate taxes and non-residents are taxed only on income arising
It is the country with the highest density of population and uses the euro as its currency.
Companies with subsidiaries in Malta include Morgan Stanley, Marriott International, Marsh & McLennan, Abbott Laboratories, Occidental Petroleum. The corporate tax rate is 35 % for local businesses, but that is not the case for international companies that pay as little as 5 %. If you possess a resident certificate, your income from foreign sources is not taxable at all.
Malta is a five-star destination for elite travelers and an ideal permanent state to stay for global businessmen offering all the luxurious experiences and the comfort millionaires search for.
Many business people choose Malta as a base, which means they find good reasons for why they love working and living in this country. It is easily accessible mostly from Europe, Africa, and the Middle East, offering many opportunities. Blessed with the Mediterranean weather it offers many things to discover while making it pleasant to live there and enjoy your stay. Even better to invest or do business there!