Security, taxes, beaches: these are the best countries for immigrants

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Say goodbye to chores and let your spirit shake: This is what the ideal retirement looks like. But many Swiss are worried about retirement conditions, as the “Credit Suisse Barometer of Concern” has repeatedly shown. Is personal care enough for a comfortable life in expensive Switzerland? Anyone who tends to be negative should quickly look to other countries where AHV and pension funds are more generous. The following situations are available:

Classic, not just since the Vasella cheating attempt. The Principality of Monaco, a settlement near Switzerland in southern France, has no income tax or inheritance tax. And: There will be no prosecution for financial crimes committed abroad. However, the financial barriers to a residence permit are very high: anyone wishing to obtain a permanent residence permit in Monaco must deposit at least €400,000 in a Monegasque bank and also purchase a property with a minimum value of €700,000.

In 2021, 116 people emigrated from Switzerland to Monaco.

Portugal is the new star among expatriate destinations. The cost of living in Portugal is relatively low and the climate is pleasant. Anyone with special RNH status (RNH stands for “habitual residence”) is eligible for a flat rate tax or tax exemption. Note, since 2023 there is a new rule for retirees: Overseas pension benefits, pensions and annuities were previously tax-exempt, now taxed at a flat rate of 10 percent. Other foreign income such as dividends, interest and the like are tax-free.

In 2021, 10,227 people immigrated from Switzerland to Portugal.

Dubai offers a state-of-the-art infrastructure and is easy to reach from Switzerland. The emirate does not know the classical tax. No income tax is levied on any domestic or foreign income, including pensions, capital gains or dividends. The same applies to wealth tax, inheritance tax and gift tax. But here too the barriers are not entirely low: Anyone wishing to obtain a “Retirement Visa” for foreigners, which has been in effect since 2020, must be able to show an income of 20,000 dirhams (approximately CHF 5,000) per month. Or have a financial resource of around 250,000 francs. Or own at least 500,000 francs worth of real estate in the Emirates. It is reviewed every five years.

In 2021, 750 people immigrated from Switzerland to the United Arab Emirates (including Dubai).

Thailand is popular for its mild climate, people, and low cost of living. Capital gains and passive income for Thai residents are tax-free unless they are produced in Thailand. Pensions and other income must be paid into a Swiss account and only transferred to Thailand in the next tax year, then everything remains tax-free. Value increase tax, withholding tax and similar taxes are not applied. Even better: Withholding tax is refundable if your pension fund money has been paid off.

In 2021, 1121 people immigrated from Switzerland to Thailand.

More than 7000 islands to choose from, low cost of living and friendly residents. You rarely tend to accept natural disasters. Pros: Foreigners are only taxed on Philippine source income. Therefore, retirement income is tax-free and there is no wealth tax to date.

In 2021, 448 people immigrated from Switzerland to the Philippines.

Panama residents only pay tax on income from a Panamanian source. The Central American country has no tax treaties with other countries and no foreign exchange control laws. There are also very strict laws on banking secrecy here. Getting a visa for retirees is easy: you just have to prove you have a regular income of $1,000 per month. Alternatively, you can deposit $170,000 at the Bank of Panama. Visa holders automatically become permanent residents. Retirees also enjoy numerous discounts in daily life. Caution: If the cost of living in the country is low, it is relatively high in Panama City.

In 2021, 106 people immigrated from Switzerland to Panama.

A popular holiday paradise that is also becoming increasingly popular with retirees, despite its relatively high cost of living. The same is true here: No income earned abroad is taxed, regardless of the type and source of income. Permanent residence permit can be applied after three years. The condition is that you can prove that you have a pension of at least 900 francs per month.

In 2021, 198 people immigrated from Switzerland to Costa Rica.

Caribbean feel and proximity to the USA? That’s what the Bahamas has to offer. The island state has no income tax. Thus pensions, capital gains and the like are tax-free. However, the cost of living is quite high as high taxes are placed on all imported goods.

In 2021, 34 people emigrated from Switzerland to the Bahamas.

South America? He also works in Uruguay. Mr. Vasella also stayed there for a while. The country is secure and offers a regional tax system. This means that pensions, social security benefits, rental income and capital gains are tax-free. Only interest and dividend payments are taxable. However, these only apply if you have lived in the country for at least ten years.

In 2021, 46 people immigrated from Switzerland to Uruguay.

Vacation paradise in the Indian Ocean as a permanent residence? Why not: Mauritius charges taxes on income earned abroad – the tax rate for individual income tax is a flat rate of 15 percent. Otherwise, the conditions are favorable and the cost of living is relatively low. Anyone who is retired and at least 50 years old can apply for a 10-year residence permit. All that is required is a $1500 transfer to Mauritius. After that, a transfer of the same amount each year must be proven.

In 2021, 75 people emigrated from Switzerland to Mauritius.

The best are not the most popular

Classic Swiss immigration countries such as Brazil or Canada are not included in this list. This is because there are no tax benefits out there. A total of 116,769 people immigrated abroad from Switzerland in 2021 included a number of factors in their assessment, according to the Federal Statistical Office. Whatever the reason, professional advice is essential before taking this big step.

Source :Blick