Tax-Free Havens: Explore 12 Financial Paradises Worldwide

4. Brunei: The Sultanate of Oil Wealth

Situated on the island of Borneo, Brunei boasts a prosperous economy primarily fueled by its abundant oil and natural gas reserves. Most of its citizens are employed by the government, enjoying publicly funded medical services and education.

While personal income tax is absent, corporate income tax stands at 15%. The House of Bolkiah, the royal family of Brunei, has held power for over six centuries, contributing to the nation’s stability and economic prosperity.