We continue our review of low-tax jurisdictions, following our previous overview of Europe. In this article, we examine two additional European locations — Andorra and Gibraltar — and then turn to selected jurisdictions in other regions.
Andorra
When applying for a residence permit in the Principality of Andorra, the main requirements include proof of financial solvency, the absence of serious incurable diseases, and a clean criminal record. The residence permit is issued without the right to work in the Principality. The minimum investment requirement, which may consist of real estate, bank deposits, or other financial instruments, is EUR 600,000. Applicants must also place a refundable deposit with an Andorran bank in the amount of EUR 50,000 for the main applicant and EUR 10,000 for each additional family member. These deposits form part of the overall EUR 600,000 investment requirement and are refundable only upon formal renunciation of the residence permit.
Ownership of real estate is not mandatory; property may be rented. One of the disadvantages of Andorran residence is that it does not grant freedom of movement within the Schengen Area. Andorra maintains mobility arrangements only with Spain and France. To maintain residence status, applicants and their family members must spend at least 90 days per year physically present in Andorra.
It is also worth noting that many individuals who reside de facto in Spain do so using residence documentation issued by Andorra. The primary reason is tax-related: Andorra applies a flat income tax rate of 10%, which in practice can be reduced to zero through specific planning instruments, whereas Spain’s top marginal tax rate for high-income individuals exceeds 40%.
Gibraltar
Residence in Gibraltar is granted under the so-called Category 2 Status, which is the formal designation of the program. Informally, it is often referred to as Gibraltar permanent residence. To qualify, an applicant must demonstrate sufficient financial means to support themselves and their family, and must have a net worth of at least GBP 2,000,000.
Applicants must purchase or rent an approved residential property in Gibraltar for their exclusive personal use; subletting is not permitted. Under Category 2 status, annual tax liability is capped on worldwide income up to GBP 118,000, resulting in a maximum annual tax of GBP 42,380. Income exceeding GBP 118,000 is not subject to additional taxation. Where income is lower, tax liability is reduced accordingly, subject to a minimum annual tax of GBP 37,000, or GBP 3,083.33 for each full or partial month the status is valid.
Residence permits are granted for an indefinite period; however, the residence certificate itself must be renewed every three years. There is no explicit legal requirement regarding minimum physical presence, but it should be understood that Gibraltar residence does not automatically prevent the holder from becoming a tax resident of another country. For example, an individual residing in Russia for more than six months while holding Gibraltar residence would be treated as tax resident in both jurisdictions.
To obtain a Gibraltar Ordinary Tax Resident certificate, an individual must spend at least 300 days in Gibraltar over a three-year period, or an average of 100 days per year. If such a certificate is not required and residence status alone is sufficient, there is no mandatory physical presence requirement.
United Arab Emirates
Residency visas in the United Arab Emirates may be issued for periods of 1, 2, 3, 5, or 10 years. A national identity card is issued together with the visa and serves as proof of residence. Like Monaco, the UAE does not levy personal income tax. In addition, there is no corporate tax, provided a company is registered in one of the country’s free trade zones. The UAE also imposes no capital gains tax and no property tax.
The UAE effectively operates as two parallel economies, one of which is offshore-oriented. A UAE residence permit allows year-round residence, and the maintenance requirements are minimal: it is sufficient to enter the country at least once every six months, even for a single day. Absence for more than six consecutive months results in automatic cancellation of the residence permit.
Tax residency certificates are issued upon request for countries with which the UAE has double taxation treaties. Typically, an offshore company must have been paying a salary to the applicant for at least six months, and real estate must have been purchased or rented for the same period. The actual number of days spent in the UAE is not taken into account for issuance of the certificate. It should also be noted that permanent residence and citizenship in the UAE are extremely difficult to obtain; residence status remains temporary by nature.
Thailand
Thailand continues to apply a remittance-based taxation system similar to the one formerly used in the United Kingdom. Foreign-source income and capital gains are not taxed unless remitted into Thailand. Offshore income, dividends, trusts, and profits that remain outside the country are not subject to Thai taxation.
In addition to its tax regime, Thailand offers a combination of lifestyle advantages, including a tropical climate, international schools, a large community of entrepreneurs and digital nomads, and a legal and cultural environment influenced by British traditions. Thailand does not permit dual citizenship, but offers long-term residence options through golden visa programs valid for periods ranging from 5 to 15 years.
Uruguay
On 1 July 2020, Uruguay introduced a new residency regime offering significant tax incentives for high-net-worth individuals. The main requirements include physical presence in Uruguay for at least 60 days per year and ownership of real estate valued at approximately USD 377,000. Participants in the program benefit from exemptions from income and wealth taxes for a period of 10 years.
Although the program is formally open to all nationalities, it was clearly designed with affluent individuals from Argentina and neighbouring countries in mind.
Read the first part of the review here: The Best Tax Havens in Europe
Published January 14, 2026