Benjamin Franklin once said, “In this world, nothing is certain except death and taxes.” While death is indeed inevitable, taxes – specifically estate or inheritance taxes -don’t have to be.
A growing number of countries have abolished estate taxes altogether, offering a lifeline for high-net-worth individuals who want to preserve their wealth for future generations without government interference.
If you’ve worked hard to secure your financial legacy, finding a country that respects your right to pass on that wealth without imposing hefty taxes is crucial.
Below, we’ll explore 10 countries without inheritance tax, delving into what makes them attractive destinations for those seeking to protect their assets.
Australia
Australia abolished its inheritance tax in 1985, making it one of the earliest adopters of a no-death-tax policy.
This legislative decision was a significant shift away from the country’s traditionally strict tax policies. However, while there is no estate tax, inheritance in Australia is not entirely free of financial obligations....