Most affordable tax-free havens revealed as UK ends non-dom incentives

Oman topped the database of astir affordable taxation havens. (Image: Getty)

The world's astir affordable taxation havens person been revealed arsenic millionaires fly the UK amid a crackdown connected nom-dom residents.

Expat specialists astatine William Russell analysed outgo factors specified arsenic flights, rent, and inferior bills to place imaginable destinations that the country's highest earners whitethorn determination to.

Oman came retired connected top arsenic the cheapest state to acquisition oregon rent an flat in, arsenic it boasts the lowest monthly surviving costs. It's besides the 3rd cheapest state for monthly inferior bills, costing astir £83.

Kuwait is the 2nd astir affordable tax-free state to determination to this year. Single system flights to the state scope from £131 to £544 and Kuwait is besides the 2nd astir affordable state for some monthly costs and inferior bills.

Bahrain took 3rd place arsenic it's the 2nd cheapest state to acquisition an flat in, costing £139 per quadrate metre connected average. It's besides the 5th astir affordable state for some monthly costs and inferior bills.

Kuwait came 2nd connected the list. (Image: Getty)

William Cooper, Marketing Director astatine William Russell, commented: "Historically, the non-dom authorities allowed individuals residing successful the UK, but with a imperishable location elsewhere, to bounds their taxation liabilities connected overseas income and gains.

"The connection to scrap non-domiciled (non-dom) taxation status, effectual from April, volition modulation the UK to a residence-based taxation system, thereby subjecting residents to UK taxes connected their worldwide income and gains.

"Under the caller regime, newcomers to the UK who person not been taxation residents successful the erstwhile decennary volition payment from a four-year overseas income and gains (FIG) relief.

"This proviso offers 100% alleviation connected overseas income and gains during this period, adjacent if specified income is remitted to the UK. However, aft this transitional phase, individuals volition beryllium taxed connected their planetary income and gains, aligning with the modular UK taxation framework."

Bahrain was named 3rd astir affordable taxation haven. (Image: Getty)

1. Oman
2. Kuwait
3. Bahrain
4. United Arab Emirates
5. Brunei
6. Maldives
7. Qatar
8. Bahamas
9. Monaco
10. Cayman Islands