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Bitlife Countries Without Tax
The Detroit Post
Thursday, 25 February, 2021

Bitlife Countries Without Tax

author
Paul Gonzalez
• Tuesday, 08 December, 2020
• 8 min read

So I looked this up a while ago going through my game and found out that some countries don’t have an inheritance tax. So I went through the countries and looked at my emigration options and Estonia popped up and it worked.

(Source: www.theguardian.com)

Contents

View Entire Discussion (3 Comments)More posts from the BitLifeApp community Thread for countries without estate taxes : BitLifeAppPress J to jump to the feed.

Press question mark to learn the rest of the keyboard shortcuts This is a thread dedicated to listing countries that don't take away money from your kids' inheritance (at least in Billie), serving as a guide for generational players.

Your character has Assets, a bank balance, and a net worth. Money is a stat level that parents and lovers have and the higher the bar, the richer they are.

Thanks to the Royal, Sports and Pop star update, it is much easier to earn more money and become a millionaire due to the increased likelihood of being famous. Saudi Arabia has no income tax (unless there's a new update {UT NU}), and there is no estate tax (UT NU), making it one of the most financially stable countries in Billie.

However, college tuition is free in most of these places, unless seeking higher education. Monaco is far better if you want a good tax -shelter, as the pay is wonderful there, even keeping in mind the higher cost of living.

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(Source: seekingalpha.com)

If you want to only want your money to go to your kids without your spouse getting any of it, consider having them before marriage, and then update the will before you get married. Some locations represent their local currencies such as Euros (€) and Pounds (£), but most use the standard Dollar symbol.

The original countries are: Argentina, Australia, Brazil, Canada, Chile, China, Colombia, Cuba, Egypt, Ethiopia, France, Germany, Greece, India, Iran, Ireland, Israel, Italy, Jamaica, Japan, Mexico, Netherlands, New Zealand, Nigeria, Panama, Peru, Philippines, Russia, Saudi Arabia, Serbia, South Africa, South Korea, Spain, Sweden, Turkey, United Kingdom, United States, and Venezuela. On March 2019, Billie released the following countries : Denmark, Estonia, Finland, Indonesia, Norway, Portugal, Romania, and Singapore.

On June 9, 2019, Billie released the following countries : Afghanistan, Belgium, Djibouti, Dominican Republic, Iraq, Poland, Puerto Rico, Switzerland, Taiwan, Thailand, United Arab Emirates, and Uruguay. On October 29, 2019, Billie released the following countries : Czech Republic, Ecuador, Hong Kong, Malaysia, Monaco, Morocco, Pakistan, & Syria.

On December 19, 2019, Billie released the following countries : Austria, Bahamas, Costa Rica, DR Congo, Kazakhstan, Kuwait, Lebanon, Mongolia, Nepal, Ukraine, and Vietnam. On May 10, 2021, Billie released the following countries : Algeria, Bangladesh, Bolivia, Croatia, Georgia, Hungary, Jordan, Qatar, Slovakia, and Zimbabwe.

I play now I think 50 generations and I never had to pay estate tax and then one live I got popular and when I died I had to pay almost the half of my money because of estate tax and I were at 1.5 billion and now I lose more money every live I'm only at 200 million now and getting broker every life but why? I had over a billion dollars and a home around half a mil, and they took 70 million from me in taxes.

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(Source: campaigns.wedonthavetime.org)

Posted on: May 10, 2019, Answer from: Dragon Russia and Romania don't have estate tax either. I make sure that my family ends up there before the current character dies, to avoid the tax.

Posted on: May 11, 2019, Answer from: Dizzy Drake Also in Canada you don't have to pay estate tax either! Posted on: Jun 2, 2019 Answer from: QuickQuack Singapore also doesn't have estate tax.

Posted on: Jun 17, 2019 Answer from: Oil TUNE CHI Long story short my accumulated net worth for 3 generations is 1.37 Billion... after being wrongfully taxed on the inheritances... my current net worth is 310 Million from 230 Million after building it back up... Let that sink in... Posted on: Jun 24, 2019 Answer from: Emmy I was having the same problem living in the United States.

Posted on: Jun 26, 2019Answer from: Billie _Person In the United Arab Emeritus, you don't have to pay estate taxes. Just make sure you don't move to any other countries where you do have to pay as you will lose a lot of money.

Posted on: Jul 9, 2019 Answer from: Megan If you go to Estonia you don't have to pay estate tax ! Posted on: Jul 29, 2019 Answer from: Meet Australia you don't have to pay anything when you die.

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(Source: www.slideshare.net)

Posted on: Oct 26, 2019 Answer from: James I lived in Texas and went from 30 Mil to 20 million. Some of the most popular countries that offer the financial benefit of having no income tax are Bermuda, Monaco, the Bahamas, Andorra and the United Arab Emirates (UAE).

However, taking advantage of living in a no-income- tax country is not as easy as packing a suitcase and buying a plane ticket. Citizens of the United States cannot escape paying U.S. income taxes just by moving to another country.

All U.S. citizens, regardless of where they choose to reside, are still legally obligated to file U.S. income taxes in the same way as if they were living in the U.S. In response, these authorities have made it increasingly difficult and expensive to renounce U.S. citizenship, imposing an expatriation tax that can become extremely expensive.

There are a number of oil countries in the Middle East that have no income tax, and the UAE is considered one of the most attractive with a relatively stable government and economy. Many U.S. expats who have chosen to make the Bahamas home still travel back to the U.S. for significant medical care.

Bermuda is an even more attractive Caribbean income tax -free destination than the Bahamas; however, it is also a much more expensive country in which to live. Its relatively isolated location makes Bermuda one of the most expensive cost of living spots in the Western world.

nothing certain taxes death onelife
(Source: www.onelife.eu.com)

And beyond that, from its famous pink sand beaches to its upscale restaurants, Bermuda is considered one of the most scenic and pleasant countries in the Caribbean. The majority of U.S. expatriates living in Bermuda are employed in the extensive financial sector that exists in the country.

Well-known as a perennial vacation playground for ultra-high-net-worth individuals, Monaco has long been considered one of the most beautiful and desirable places to live in Europe. Located on the French Riviera, Monaco has extensive, well-developed marinas that are usually occupied by a selection of yachts from around the world.

A legal residence permit can be obtained in less than three months but requires depositing approximately half a million dollars in a Monaco bank. The United Arab Emirates is one of the most attractive oil countries in the Middle East that does not have any federal income tax.

The tax -free salaries are one of the reasons why large numbers of people are drawn to work in the United Arab Emirates. Despite the zero-income tax regulations, United Arab Emirates is considered to have one of the most stable economies in the world, which is strengthened by the rich oil and gas deposits in the country.

It has a thriving economy in comparison to other countries in the Middle East, translating into an excellent destination for business and leisure. For this reason, Cayman has become a major hedge fund manager in the world.

socialism capitalism vs tax infographic rich taxes nea millionaires breaks
(Source: sites.google.com)

The law that operates taxation in the Cayman Islands has been designed in that the government receives an annual payment, which is referred to as licensing fee from offshore co-operations, instead of income tax and other forms of regular tax. The tax -free environment acts as an incentive for most of the people working in the country.

Enjoying the benefits of not paying income tax in the country depends on residence and not obtaining citizenship. The country also hosts several banks which offer offshore accounts and savings, which are mainly used by individuals who want to pay less tax on them.

Just like the other Gulf States, the taxation system in Oman is very minimal, and non-existent in some cases. To support the social security fund, individuals who work in the private sectors are taxed 6.5% of their salaries.

In the recent past years, a form of tax was introduced on all the incomes earned by an individual. For instance, if an expatriate establishes a company in Brunei, the government receives 20% of their total income as tax.

The tax charged is channeled back to the country’s economy to fund the several development projects. There is no income tax imposed on social security and salaries to the locals of Qatar.

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(Source: www.npr.org)

However, the salaries of the expatriates are taxed according to their taxation laws of their original nationalities. The companies in Qatar pay 10% of their total income as tax, which is payable annually.

Qatar is one of the preferred countries to work because of the well-developed infrastructure and tax -free environment. There are no personal income taxes imposed on people working in Kuwait.

The revenues and income from the oil in Kuwait comfortably sustain the economy. However, the foreign companies established in Kuwait pay 15% of their income to the government as tax.

Just like the other Gulf empires, the little to no income taxation in Saudi Arabia has played a major role in attracting foreigners and expatriates to the country. The foreign companies established in Saudi Arabia are also taxed depending on the kind of business or services they are offering.

British Islands prefer to be considered as a modern offshore financial center. It is significant to note that unlike most tax havens in the world, Andorra does not provide for an easy putting of offshore industries.

Besides being a tax -free haven, Andorra is also a scenic spot due to its location. Thus, the residents of Monaco are not expected to pay any part of their personal income to the government.

However, residents of Monaco with a French nationality are required to pay income tax. After they are taxed, the amount is directly paid to the France Government for the country’s development.

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Sources
1 excaliburinvestmentsnm.com - http://excaliburinvestmentsnm.com/
2 www.usnews.com - https://www.usnews.com/news/best-states/new-mexico/articles/2020-11-14/real-estate-documents-outline-albuquerques-segregated-past
3 www.redfin.com - https://www.redfin.com/city/513/NM/Albuquerque
4 www.pijproperties.com - http://www.pijproperties.com/
5 investorplace.com - https://investorplace.com/best-real-estate-crowdfunding-platforms-apps-privinv/