Monaco

Monaco levies no personal income tax on residents, with the sole exception of French nationals who remain taxable in France under the 1963 bilateral convention. There is no wealth tax, no annual property tax, and no individual capital gains tax, though inheritance and gift tax applies to assets located in Monaco at rates from 0 percent for direct heirs and spouses up to 16 percent for unrelated beneficiaries. Companies pay a 25 percent business profits tax only if more than a quarter of their turnover comes from outside the principality, and residency requires proof of accommodation plus substantial bank deposits rather than a dedicated nomad or startup visa.