Countries With No Capital Gains Tax in 2026: A Guide for Expats and Investors

Capital gains tax (CGT) is one of the most important variables to consider when choosing a country of residence. If a substantial part of your wealth comes from investments such as stocks, property, a business you plan to exit, or crypto, the difference between living in a high-tax country and a zero-tax one can amount to hundreds of thousands, even millions of dollars.

To help you avoid unnecessary tax exposure, this guide will list the most appealing countries with no capital gains tax. You’ll also learn: 

• Why some countries might have a conditional zero-tax regime
• Which countries might offer zero liability for capital gains tax under certain circumstances
• What other important factors you should consider when moving abroad 

Why Zero Capital Gains Tax Doesn’t Always Mean No Capital Gains Tax

When choosing a tax jurisdiction to protect your capital gains, it’s crucial to understand that not all countries without capital gains tax offer this fiscal advantage consistently. Many countries have abolished capital gains tax altogether, but some impose a zero capital gains tax rate provided specific requirements are met.

The U.S. is an example of a country that offers zero capital gain taxes if you meet certain criteria:

Criterion	Explanation
Holding period	Holding an investment for longer than one year qualifies you for lower tax rates, including zero capital gains tax
Income	If your income is below USD 48,350, you can qualify for zero capital gain tax
Filing status	If you’re married and filing jointly, the income threshold doubles to USD 96,700

Other factors that countries use when determining whether or not you’re liable for capital gains taxes include: 

• The jurisdiction of the investment: Countries with a territorial tax regime typically only tax the gains derived from assets located within the country, not your worldwide assets
• The type of investment: In certain countries, non-professional investors may be exempt from paying CGT, while professional investors remain liable
• Citizenship status: Some countries, most notably the U.S., will require you to file taxes on your worldwide income even if you establish residence in another country

Which Countries Have Unrealized Capital Gains Tax?

Moving to another country can trigger a tax on unrealized capital gains in your country of origin. This so-called exit tax is most common in European countries, although other countries apply it as well:

Country	Exit Tax Rate
Norway	37,84%
France	31.4%
Denmark	27% or 42%, depending on gains
U.S.	Up to 23.8%

Countries often have additional conditions that trigger the unrealized capital gains tax on exit, such as the type of assets held and their value. 

To understand the full tax implications of moving abroad, consider relying on services from global mobility and tax mitigation professionals.

Which Countries Have No Capital Gains Tax?

The countries with the most favorable tax legislation, including no capital gains tax, include: 

1. Anguilla
2. Antigua and Barbuda
3. Bahamas
4. Cayman Islands
5. Gibraltar
6. Hong Kong
7. Jersey
8. Oman
9. Sark
10. Singapore
11. Switzerland
12. United Arab Emirates

Anguilla

Anguilla, an Eastern Caribbean country, is a British Overseas Territory with no direct taxation. In addition to capital gains tax, the country’s fiscal regime levies no income tax, inheritance tax, or corporate taxes. 

To become a tax resident of Anguilla, you need to: 

• Make an annual lump-sum payment on worldwide income taxes of USD 75,000
• Own at least USD 400,000 worth of property in Anguilla
• Spend at least 45 days in a year in Anguilla
• Avoid spending 183 days in any single country other than Anguilla during a year

Antigua and Barbuda

Antigua and Barbuda is another Eastern Caribbean country with no capital gains, income, wealth, or inheritance taxes.

You can apply for Antigua and Barbuda’s permanent residency on an annual basis if you:

• Maintain a place of residence in the country (rented or leased residence allowed)
• Reside in the country for at least 30 days 
• Pay a flat yearly tax of USD 20,000

Antigua and Barbuda also offers a citizenship by investment (CBI) program. 

Bahamas

The Bahamas doesn’t levy any personal or corporate income taxes, nor capital gains, wealth, or inheritance taxes.

To become an economic permanent resident of the Bahamas, you need to invest USD 1 million in one of the vehicles: 

1. Real estate in the country
2. Bahaman zero-coupon bonds

To maintain the permanent resident status, you need to hold the investment for at least 10 years. 

Cayman Islands

The Cayman Islands doesn’t levy any direct taxes, such as personal income, corporate income, capital gains, inheritance, or wealth taxes.

You become a resident of the country by: 

• Proving a substantial personal income of KYD 120,000 (USD 144,000)
• Placing KYD 400,000 (USD 480,000) in a local bank
• Making a KYD 1 million (USD 1.2 million) investment in the country
• Proving substantial business presence in the Cayman Islands

If you choose the business presence route, you must be present in the country for at least 90 days per year. 

Gibraltar

Gibraltar is often used for low-tax, Europe-adjacent wealth preservation strategies due to the absence of capital gains, wealth, inheritance, and gift taxes. 

The country imposes personal income tax on Gibraltar-sourced income. If you become a resident under Category 2 as a high-net-worth individual, the accessible income is capped at GBP 118,000 per year, with a minimum tax liability of GBP 37,000, and a maximum tax liability of GBP 42,380. 

To become a resident under Category 2, you must:

• Have a net worth of at least GBP 2 million
• Maintain a place of residence in Gibraltar
• Have no prior residency status in the country 

Hong Kong

Hong Kong doesn’t have wealth or inheritance tax, and it doesn’t levy capital gains tax in most cases. The only exception is gains from trading, which are subject to a profits tax. In that case, Hong Kong applies a territorial framework, taxing only Hong Kong-derived gains.

Under the New Capital Investment Entrant Scheme, you can become a resident of Hong Kong by making an eligible investment of at least HKD 30 million (USD 3.82 million). 

Jersey

Jersey is a common tax residency choice for its stability and financial infrastructure. The country levies no capital gains or inheritance tax, but you are liable for income tax. Depending on whether or not you habitually reside in the country, the tax can apply to your worldwide or Jersey-derived income. 

There are multiple ways to become a resident of Jersey:

• Relocate your business to Jersey
• Apply as a high-net-worth individual
• Relocate as a skilled high earner

Oman 

Oman does not impose capital gains tax on individuals. It also doesn’t have an inheritance or wealth tax regime, although it will implement personal income tax starting in 2028. 

Like many other Gulf countries, Oman has a Golden Visa program that allows you to quickly secure residency in the country by:

• Making a real estate investment
• Investing in a company 
• Acquiring shares or government bonds
• Placing a deposit in an Omani bank

Sark

The small island of Sark doesn’t levy any capital gains, income, or inheritance taxes. 

Using Sark residency to optimize your tax position could be challenging, though. The island lacks modern amenities, including transportation infrastructure. If you need to satisfy real substance requirements, it could prove difficult to show the island is the true center of your activities.

Singapore

Singapore hasn’t enacted capital gains or inheritance taxes. However, making a series of capital transactions can be viewed as trading or business activity and may incur tax liability. 

Singapore maintains a territorial personal income tax system in most cases. The only exception is income made abroad and transferred to Singapore by a resident in partnership with a Singaporean entity. 

Under Singapore’s Global Investor Program, you can become a resident of the country by making one of the following investments:

Type of Investment	Value
Investment in a Singapore business	SGD 10 million (USD 7.82 million)
Investment in an approved fund	SGD 25 million (USD 19.56 million)
Investment into a Single-Family Office and equities	SGD 200 million AUM (USD 156.5 million)SGD 50 million (USD 39.13 million)

Switzerland

Switzerland has a complex tax landscape at the federal, cantonal, and communal levels. The country doesn’t levy capital gains tax, including on immovable property, if the asset has been held as a private asset. Immovable assets might be taxed on the cantonal level. 

Additionally, your personal income, inheritance, and total wealth might also be subject to taxation in Switzerland. 

If you’re not an EU/EFTA national, you can become a resident in Switzerland by making a lump-sum tax agreement or a substantial investment in certain cantons.

United Arab Emirates

The United Arab Emirates doesn’t levy taxes on capital gains, personal income, wealth, or inheritance. 

The country maintains a Golden Visa program that enables you to obtain residency by making an eligible investment. You can make either a public or real estate investment, as long as it’s over AED 2 million (USD 545,000). 

Countries With Conditional Zero CGT

The countries that offer a no capital gains tax environment under certain conditions include:

1. Cyprus
2. Malta
3. Panama
4. Uruguay

Cyprus

Cyprus levies capital gains tax on the disposal of immovable property in the country. It also imposes a special tax, the Special Defence Contribution, on income from passive investments, such as dividends, interest, and government bonds. However, you are only liable for that tax if you’re domiciled in Cyprus, which you become at birth or by being a tax resident for 17 years.

Cyprus doesn’t have a wealth or inheritance tax. It imposes a worldwide personal income tax on tax residents, while it taxes non-residents only on Cyprus-derived income. 

You can become a resident of Cyprus by investing at least EUR 300,000 in real estate, a business, or an investment fund. To become a tax resident, you can follow either the 183-day rule or the 60-day rule.

Malta

Under Malta’s tax framework, you can be liable for taxes on worldwide and local capital gains and income if you are a domiciled resident. 

If you maintain a non-dom status, which means that you don’t live in Malta permanently, capital gains tax only applies to Malta-derived gains, even if you remit them to the country. Your worldwide income, however, is only outside the scope of taxation if not remitted. 

If you want to become a resident of Malta and you’re not an EU citizen, you can choose between the investment-led Malta Permanent Residence Program and the Global Residence Program.

Panama

Panama uses a territorial framework when determining tax liability on income and capital gains. In general, any income that’s been derived outside of the country is not subject to a personal income or capital gains tax. 

The country doesn’t levy a wealth or inheritance tax. 

To become a resident of Panama as an investor, you can apply under the fast-tracked Qualified Investor Program and make one of the following investments:

• Purchase real estate worth at least USD 300,000
• Buy at least USD 500,000-worth of securities
• Place a USD 750,000 deposit in a local bank

Uruguay

Uruguay offers new tax residents a tax holiday option, allowing them to choose to be treated as non-residents and pay zero taxes on capital gains and interest for the first year of their residency and for the next 10 years. 

This option is available if you meet one of the following criteria: 

• Make a significant investment in real estate (around USD 2 million)
• Make a yearly investment into approved funds (around USD 100,000)
• Be present in the county for at least 183 days in a year

After 10 years, the tax treatment changes, and you’re given an option between a fixed annual tax and a discounted tax rate.

You can become a tax resident in Uruguay by making an eligible investment of USD 600,000. The country also offers residency pathways for real estate and company investors.

What To Look For When Choosing a Tax Jurisdiction

When choosing a tax jurisdiction for your operation, it’s important to consider factors beyond capital gains tax. In addition to the tax landscape as a whole, which includes personal income, wealth, gift, and inheritance taxes at a minimum, you should also consider: 

• Ease of obtaining residency: Countries can have Golden Visa programs that serve as a fast track for obtaining residency rights, usually after making an eligible investment
• Compatibility with your original citizenship: Some countries might be less prone to approve residency for citizens from specific countries
• Citizenship path: Countries can have easier or more difficult paths to citizenship, with some imposing strong barriers
• Double taxation agreements: Choosing a country that maintains a double-taxation agreement with other countries where you might be subject to tax can help you avoid being taxed twice
• Access to infrastructure and services: For plans that involve actually residing in the country, access to modern infrastructure and services is a key consideration

Deciding on a tax jurisdiction and implementing a plan to relocate there is usually a complicated process, regardless of the country. It requires an advanced understanding of local legal frameworks and practical knowledge of how they are implemented in migration processes. 

When choosing to move to a country with no capital gains tax, it’s best to rely on the services of consultancy firms with experience in this area. For help with making the decision and putting it into motion efficiently, contact Nomad Capitalist.

Find Your Ideal Tax Jurisdiction With Nomad Capitalist

Nomad Capitalist is a global mobility and wealth protection advisory firm. We’ve helped more than 1,500 clients restructure their lives and finances by acquiring a second residency, reducing their tax footprint, and discovering investment opportunities abroad. 

Nomad Capitalist is uniquely positioned to help you choose a tax jurisdiction to hedge against capital gains taxes. We create an Action Plan for you that details all the steps necessary to obtain residency in a tax-friendly country. Because each Action Plan is created with your specific financial situation, citizenship, and long-term goals in mind, you will receive a precise, actionable guide that applies to your circumstances. 

Here’s what working with Nomad Capitalist looks like: 

1. We ask you to fill out a short form to help us determine whether we’re a good match
2. We schedule a 45-minute onboarding meeting to learn more about your situation and your goals
3. Our agents create an Action Plan for you and present it for your approval
4. We implement the Plan over 12 months, managing the administrative parts
5. You receive lifelong support from us after the Plan is implemented

You can rely on Nomad Capitalist to help you through the entire residency acquisition process. We can advise you on the countries with the best residency programs and manage the application process to the extent permitted by local laws.