Top 5 Nomad Beach Destinations

1. The Cayman Islands

The Cayman Islands is one of the best beach destinations in the Caribbean, and technically North America. Its lush green sceneries and blue waters make it a tropical paradise. On top of that, the Cayman Islands is also called the culinary capital of the Caribbean, making it a haven for foodies.

In addition, the Cayman Islands is a perfect tax haven for entrepreneurs, investors, and digital nomads who do not want to deal with the complicated taxation policies in other countries. They can enjoy the warm sun in the Caribbean and favorable tax policies too.

If establishing a residency in the Cayman Islands is the goal, it is a straightforward process. Although, it does not come cheap. You will need to spend over CI$1,000,000 (roughly around US$1,198,000) in qualifying real estate, and show a continuous source of income of US$145,000, or open a Cayman bank account with a minimum deposit of US$480,000. This will qualify you for a renewable temporary permit that can last for 25 years.

For a permanent residence permit that will eventually allow you to acquire citizenship, you can invest over CI$2,000,000 (a rough US$2,397,000) in a qualifying real estate investment. You can also start a company. This is perfect for those looking to reduce their personal and corporate taxes. However, it is also worth noting that there are far cheaper options available in different countries in the region.

One of the best things about living in the Cayman Islands as a Nomad Capitalist is that it is a tax haven with no income tax, no property tax, no corporate tax, and no capital gains tax.

2. St. Kitts and Nevis

With lush green scenery, crystal clear waters, and exotic wildlife, the dual island nation of St. Kitts and Nevis is a tropical haven. We mentioned some safety issues regarding St. Kitts and Nevis in our previous edition but the country has significantly improved in the safety category, climbing up 2 points in our index this year.

There is no personal or corporate tax in the country but investors especially prefer this dual-island nation because of how well they are treated here. That, along with the fact that you will never run out of things to do in St. Kitts and Nevis makes it an amazing choice for digital nomads.

It is also possible to become a citizen and pay zero tax in this nation. As a single applicant, you can either make a non-refundable donation to their government for $150,000 or invest $200,000 to $400,000 in one of the country’s approved real estate projects.

3. Budva, Montenegro

The Adriatic sea, sandy beaches, medieval architecture, and vibrant nightlife, are only some of the highlights of the coastal town of Budva that make it the most popular tourist destination in Montenegro.

The increasing number of tourists also makes it an amazing place to invest in a real estate unit. Owing to the improvement in the quality of services, Budva has climbed two points in our Nomad Beach Index of 2022, as compared to last year.

Montenegro has a worldwide tax system. The corporate tax rate is 9% to 15%, with more flexible tax rules than in many other Western European countries. Their government has also made it relatively easy to become a resident and even get Montenegro citizenship by investment with a minimum investment of €450,000.

To establish residence, you have to set up a company in the country or purchase local real estate with no minimum requirements for investment, making it a great investment opportunity, since the market is booming right now. Although, this particular offer is valid only till the end of 2022. Favorable tax programs, ease of doing business, and crypto-friendly policies are only some of the things that continue to attract investors to this country.

4. Tha Bahamas

700 islands, countless beach destinations, a straightforward immigration process, and almost no taxes - Bahamas offers it all and then some for investors and entrepreneurs alike. The Bahamas is a well-established tax haven with no income tax, no corporate tax, no capital gains tax, no sales tax, no withholding tax, no gift or inheritance tax, and no other probate fees.

If that wasn't enough, the country boasts some of the most beautiful tropical islands with the clearest water in the world. Talk about a tropical tax-haven. For people looking to reside permanently in the Bahamas, an amount of $750,000 to $1.5 million has to be invested in the country’s real estate.

If your investment surpasses $1.5 million, a response from the Immigration Department is guaranteed within twenty-one days of submission of a complete application.

5. Antigua and Barbuda

Antigua and Barbuda is a dual island nation popular in the world of investment migration, thanks to its multiple investment routes and tax-friendly policies. The country is also known for its world-class beaches, rainforests, and resorts. Antigua and Barbuda also boast of rich historical culture and the most welcoming people you will ever find anywhere.

Though it does have a corporate tax for locally situated and operated companies, no other income is subjected to tax, but there is a way for you to live here for part of the year without becoming a tax resident – something that most globally mobile entrepreneurs prefer.

However, if establishing tax residency is the goal, then Antigua and Barbuda also offers one of the most flexible tax residencies in the world by spending as little as 30 days on the islands and paying a certain fee, among other conditions.

Antigua and Barbuda citizenship by investment is also offered to foreigners who are willing to invest in the country’s real estate or make a one-time donation of $130,000 (including government processing fees) for up to a family of four.