Countries With Wealth Tax: Rules and Rates for Residents and Non-Residents

Wealth taxes have seen a resurgence of political interest in recent years, with calls for their introduction growing in countries such as the U.S., Denmark, and Singapore. For now, though, the number of countries that impose it has remained small.

In this article, we’ll examine the countries with wealth tax. You’ll learn about the thresholds and rates, the assets that are subject to the tax, and the treatment of non-residents under the tax.

7 Countries That Have a Wealth Tax 

The following countries impose a general wealth tax without targeting specific types of assets: 

1. Argentina
2. Colombia
3. Norway
4. Spain
5. Switzerland
6. Uruguay
7. Venezuela

Argentina

Argentina levies an annual wealth tax called the personal assets tax (Impuesto sobre los Bienes Personales). Argentine residents are taxed on their worldwide assets, while non-residents are taxed only on the assets located in the country. 

The tax is levied on assets held on December 31 every year, with two exemption thresholds: 

• General threshold (2025): ARS 384.7 million (USD 272,500) 
• Personal residence threshold (2025): ARS 1.346 billion (USD 954,000)

Argentina is in the process of reducing its wealth tax to a flat rate of 0.25%, which will apply in 2027. For 2026, a progressive rate of 0.5%–1% applies. 

The most accessible pathway for securing residence in Argentina is through the Pensioner or Rentier temporary residence programs. To qualify, you need a pension or a stable passive source of income at least five times the Argentinian national minimum wage, or ARS 1.7 million (around USD 1,200) in total. 

Colombia

Colombia taxes residents’ worldwide assets and non-residents’ Colombian assets with a wealth tax at progressive rates from 0.5% to 1.5%. To be liable, individuals must have a net worth exceeding 72,000 tax units (USD 1.04 million). 

For 2026, Colombia introduced temporary changes to both the tax rates and triggering threshold. The rates were increased to 0.5%–5%, while the threshold was decreased to 40,000 tax units (USD 557,000). 

In addition to the tax on individuals’ wealth, Colombia introduced a temporary corporate wealth tax for part of 2026. The measure was announced as part of the country’s response to the extreme weather it has recently experienced. 

The tax targets companies with net equity of USD 2.9 million or more, with net equity serving as the tax basis. There are two rates: 

1. The general 0.5% rate
2. A special 1.6% rate, which only applies to companies in the financial and fossil fuels sectors

Both tax measures are under review by the country’s Constitutional Court. 

To become a resident in Colombia, you need to apply for a type M migrant visa. You can be eligible for the visa if you satisfy any of the following conditions: 

• Make a direct foreign investment of at least USD 307,500 (based on 650 minimum monthly salaries)
• Purchase real estate for at least USD 165,600 (based on 350 minimum monthly salaries)
• Generate income of at least USD 2,365 as an independent professional
• Have a pension of at least USD 1,419

Norway

Norway imposes a wealth tax on worldwide assets of residents and Norway-based assets of non-residents. The tax is levied on two levels, municipal and national: 

Tax Level	2026 Rate
Municipal	0.35%
State	0.65%–0.75%
Total	1%–1.1%

The Norwegian wealth tax has two thresholds: 

1. The tax-triggering threshold of NOK 1.9 million (USD 205,000)
2. The higher tax bracket threshold of NOK 21.5 million (USD 2.32 million) 

The higher bracket counts only for the state wealth tax—the municipal tax remains the same regardless of the value of liable assets.

Norway doesn’t have a residence program for investors or high-net-worth individuals. To become a resident, you would need to have family members in the country, find employment, or become a citizen of an EU/EEA country.

Spain

Spain levies two separate wealth taxes: the regular wealth tax and the solidarity tax on large fortunes. 

The regular wealth tax is due on worldwide property of Spanish tax residents and local property of non-residents. It is administered at the level of autonomous communities, which can set the rates and the thresholds. 

If the autonomous communities don’t set the rate, a progressive tax rate of 0.2%–3% is applied. The two thresholds in effect are:

1. General threshold, which is EUR 700,000 (USD 816,000) if it hasn’t been changed on the municipal level
2. Property threshold, which is EUR 300,000 (USD 350,000) and applies to personal residences

The solidarity tax on large fortunes was introduced as a temporary measure in 2022, but has since become permanent. It applies to individuals with more than EUR 3 million (USD 3.5 million) in assets, with a progressive rate ranging from 1.7% to 3.5%. 

When calculating the solidarity tax, the regular tax bill can be entered as a liability. 

If you want to become a resident of Spain, the non-working residence visa is the most accessible. It requires you to have funds to support yourself for a year in the country, or to have a passive source of income, which amounts to four times the country’s IPREM index. 

For 2026, the requirement for the non-working residence visa came to EUR 2,400 (USD 2,800) per month, or EUR 28,800 (USD 33,600) for the year.

Switzerland

While Switzerland doesn’t have a wealth tax on the federal level, all of the country’s cantons and municipalities apply it at different rates. Even within the same canton, the tax rate can vary significantly from one municipality to another, since municipalities establish their own multipliers that apply to the cantonal rate. 

The range of rates is approximately 0.07%–1%. Exempt wealth ranges between CHF 77,000 (USD 98,600) and CHF 200,000 (USD 256,000). 

The wealth tax is levied on the worldwide assets of tax residents. Property located abroad is only used to calculate the tax bracket, and is not otherwise subject to the tax. For non-residents, only assets with a Swiss situs are subject to the tax.

You can become a resident of Switzerland in one of two ways:

1. By making a significant investment in certain cantons
2. By making a lump-sum tax agreement with an eligible Swiss canton (only available if your income is not derived in Switzerland)

Uruguay 

Uruguay is unusual among wealth tax jurisdictions in that it applies the tax on a territorial basis. Only assets located within the country are subject to wealth tax for both residents and non-residents.

Individuals, families, and the estates of deceased individuals are liable for the tax. The rate is 0.1% on wealth above the following thresholds:

Category	Threshold
Individuals	UYU 6.653 million (USD 165,700)
Families	UYU 13.306 million (USD 331,400)
Estates	UYU 6.653 million (USD 165,700)

Uruguay has special tax rates for non-residents who are not subject to the Non-Resident Income Tax (IRNR). They are taxed at progressive rates ranging from 0.7% to 1.5%, while the same individual and family thresholds apply. 

You can apply for Uruguayan permanent residence if you’re a business owner, entrepreneur, retired, or have a passive source of income sufficient to support yourself in the country. The government doesn’t publish the minimum amount required. 

Venezuela

Venezuela levies a wealth tax on large fortunes on individuals and entities classified as special taxpayers. Both residents and non-residents may be liable for the tax. Residents are taxed on their worldwide net worth, while non-residents are taxed only on assets located in Venezuela.

The tax is levied at a rate of 0.25%, and it applies to anyone whose net worth reaches 150 million tax units, or VES 6.45 billion (USD 11.65 million). 

If you want to travel to Venezuela for an extended stay or become the equivalent of a resident, the country offers the following options: 

• The passive income visa, which grants a year-long stay if you have a foreign source of income that generates at least USD 1,200 per month
• The two-year business/industrial visa, which allows you to stay in the country for up to four months at a time if you have a proven track record as a business owner

Which Countries Tax Some Part of Your Wealth? 

Note that some countries have a wealth tax that targets specific assets instead of wealth in general. This is most often seen in European countries with a wealth tax, including: 

• Belgium: Security accounts larger than EUR 1 million (USD 1.17 million) are taxed at a rate of 0.15%
• Italy: Foreign real estate held by residents is taxed at 1.06% if the tax due exceeds EUR 200 (USD 233). Additionally, foreign financial investments held by residents are taxed at 0.2% or 0.4%, depending on the country they’re held in
• France: Worldwide real estate for residents and French real estate for non-residents is taxed at a progressive rate of 0.5%–1.5% if its value exceeds EUR 1.3 million (USD 1.52 million) 
• Moldova: Real estate with a surface area of 120 square meters and valued at more than 200 average monthly salaries is taxed at a rate of 0.8%

Why Move to a Country With a Wealth Tax?

Even though a wealth tax can make a jurisdiction less appealing for residence, some of the countries on this list are still very popular among high-net-worth individuals. Switzerland is the prime example—the country has successfully maintained its tax-haven status even though it’s a relatively high-tax country. 

Beyond the lifestyle appeal of some of these countries, factors that make them a good choice for obtaining a second residency include: 

• The overall tax landscape, including the income tax, capital gains tax, and corporate tax, can still be beneficial for tax planning
• Countries can have exemptions that could be leveraged to reduce tax exposure
• Becoming a resident of a country doesn’t necessarily make you a tax resident
• Historically, wealth taxes have shown little staying power and were usually repealed eventually 

Before making a decision, it’s important to evaluate the broader tax landscape of a country, the structure and situs of your assets, and your financial plans. For help with assessing the benefits of a tax jurisdiction and support when obtaining residence, contact Nomad Capitalist. 

Plan Your Residency Abroad With Nomad Capitalist

Nomad Capitalist is a global mobility and wealth protection firm. We’ve helped over 1,500 clients go where they’re treated best and use second residency, tax optimization, and international investment to protect and grow what they’ve built. 

Our flagship service is the Action Plan: a detailed blueprint that outlines all the steps toward your financial or lifestyle goals. We take into account each client’s circumstances and needs when developing a Plan to ensure that it fits their timeline and leads them exactly where they want to go.

Here’s what partnering with Nomad Capitalist for an Action Plan looks like: 

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

Nomad Capitalist can help you examine the effects of a wealth tax when you’re seeking residency in a country that levies it. We can advise you on structuring your assets to minimize tax liability and help you prepare and apply for residency or citizenship. 

If you opt for a country without a wealth tax, we can help you find the most tax-efficient jurisdiction with the friendliest immigration regulations.