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The best tax haven in the world is Campione.
Campione or Italian Campione is a small sovereign Italian territory, which is completely in Switzerland.
Campione is very often called the Italian enclave in Switzerland. This means that living in Campione, you actually live in Switzerland. Therefore, you use Swiss customs, Swiss currency and Swiss marks to send mail.
The inhabitants of Campione use Swiss telephone companies, and electricity is supplied here from Italy (but they pay for it in Swiss francs). Local workers receive a salary in Swiss francs and a very good rate for the exchange of francs in euros.
Campione is a tiny province with approximately 3,000 inhabitants. Campione used to be considered a tax haven, but since government revenues from local casinos decreased significantly, so did taxes.
Living in Campione, you actually live in Switzerland, but Campione belongs to Italy.
Therefore, the residents of Campione must pay taxes in Italy. Italian taxes are traditionally high, but the inhabitants of Campione do not pay a full tax to Italy. The first 200,000 Swiss francs of incomes of the residents of Campione are taxed by Italy into euros at a special rate. As a result, the official income is much less, just like the tax. Over 200,000 Swiss francs are subject to the usual Italian taxes.
Therefore, living in Campione you will have to pay a tax of 45% on all incomes, but you will have the opportunity to take advantage of a special discount for the first 200,000 Swiss francs of annual income. The rate for the exchange of francs in euros is fixed by order of the ministry every three years, for example, 1 Swiss franc equals 0.40482 euros.
Like the usual residents of Italy, the citizens of Campione do not have the inheritance tax and the donation. The income from the profits on foreign securities, which is paid through the Italian bank, is taxed at a reduced rate of 12.5%.
Another plus – there is no VAT in Campione. In terms of paying taxes, it is considered that Campione is outside the European Union. Therefore, accounts for exports to Campione and for the services of the residents of Campione are exempted without VAT.
No doubt, Campione is a very beautiful place, but if you are mainly interested in reducing tax payments, then this place will not be the most ideal. If you want to pay less taxes, but live in Europe, then on the part of tax benefits Campione can not be compared with Monaco or Andorra.
For example, you can read about tax breaks in Andorra here: The Best Tax Harbor of the World – Andorra.
Even if you compare the tax benefits in Campione, with tax benefits in Cyprus, Malta, Bulgaria and the island of Men-Campione is losing.
It is also worth remembering about the high prices for real estate in Campione.
There is no formal scheme for obtaining permanent residence in Campione, but in order to acquire this status, you need to become a property owner in Campione. The demand for property in Campione is high and you will be lucky if you find a property in Campione costing less than 500,000.
And although real estate prices in Campione are lower than in Monaco, they are not offered tax benefits like Monaco.
If you need beautiful mountain views, warm beaches at a distance of two hours, relatively low prices for real estate, excellent banks and tax breaks, security and free high-quality European education for your children, then choose Andorra.
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