top of page
Writer's pictureCreimerman Product Team

Top 5 Tax-Free Caribbean Destinations for a Second Residence.




The Caribbean is synonymous with stunning beaches, vibrant cultures, and tax-friendly policies. Several island nations in this region offer not only beautiful settings but also the opportunity for tax-free living. If you’re looking to diversify your global footprint with a second residence while minimizing your tax burden, these five Caribbean countries present ideal options.




1. The Bahamas – Your Tax-Free Island Escape


Overview: Known for its turquoise waters and laid-back lifestyle, The Bahamas offers a highly attractive tax-free environment with zero income tax on both local and global income. It’s perfect for those who enjoy island living and wish to maintain a favorable tax status.


Requirements: You can apply for an annual renewable residence permit for USD 1,000. Permanent residence is obtainable after 20 years or by investing at least USD 750,000 in real estate. Fast-tracking is possible with a USD 1.5 million investment and a one-off fee of USD 10,000.


Additional Benefits: Homeowners receive a Homeowner’s Card, allowing their family to live on the island, providing a straightforward pathway to enjoying the Bahamas' perks.



2. British Virgin Islands (BVI) – A Self-Sufficient Tax Haven


Overview: The BVI is a British overseas territory known for its lack of income, capital gains, and corporate taxes. With its crystal-clear waters and vibrant community, it’s an excellent destination for tax-conscious individuals.


Requirements: The BVI provides a relatively simple path to residence. You need to show proof of self-sufficiency by submitting bank statements and pay a USD 1,000 surety bond. A residence visa can be obtained in less than a month.


Why Choose BVI: Alongside its tax-free benefits, BVI offers a serene lifestyle with a mix of luxury and natural beauty, ideal for those looking for a peaceful yet sophisticated environment.



3. Cayman Islands – A Luxurious Tax-Free Lifestyle


Overview: A well-known hub for financial services, the Cayman Islands offers not only a luxurious lifestyle but also a zero-tax policy on personal income, making it an attractive destination for global investors and high-net-worth individuals.


Requirements: The cost of permanent residence starts at USD 1.2 million for qualifying real estate investments. Alternatively, you can form a company and employ yourself to gain residence status, which requires you to be present on the islands for just one day per year.


Ideal For: Those who are looking for both a lavish lifestyle and a robust financial system to support their investments and banking needs.



4. Turks and Caicos – Quick and Hassle-Free Residence


Overview: Known for its breathtaking beaches and luxury resorts, Turks and Caicos is another British Overseas Territory that offers a zero personal income tax environment.


Requirements: You can acquire residence permits quickly by investing at least USD 300,000 in building a new home or USD 750,000 in a company majority-owned by locals. The lack of corporate, capital gains, property, and inheritance taxes makes this an incredibly appealing option.


Lifestyle Perks: Beyond the financial benefits, residents can enjoy a relaxed pace of life, world-class diving spots, and access to high-end amenities.



5. Anguilla – A Hidden Caribbean Gem for Low Taxes


Overview: Anguilla, a British Overseas Territory in the Lesser Antilles, is a small player in offshore trusts and banking but offers two residence schemes to lower your tax burden dramatically.


Requirements: For permanent residence, make a donation of USD 150,000 or invest USD 750,000 in real estate. Alternatively, pay a lump-sum tax of USD 75,000 each year while purchasing a home worth USD 400,000 to qualify as a tax resident with only a 45-day annual presence requirement.


Why Anguilla: It provides an exclusive lifestyle with stunning beaches, low taxes, and a relatively straightforward process to obtain residency.




If you want more information about Investment Abroad and its opportunities to develop business, contact us today! Below this article, you will find a link to set up a free ten-minute consultation with us to discuss your options further.


Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.


bottom of page