You can almost double your disposable income.
There’s no income tax in the Cayman Islands or Bermuda, the latter having only a 6% payroll deduction.
The British Virgin Islands is a low tax environment: at the time of writing there is a personal allowance of $10,000 and an income tax rate of just 8%. Tax in the Channel Islands of Jersey and Guernsey is 20%.
The less tax you pay, the more you get to save and spend.
If you’re from the UK, read our blog for a worked example. See also our Quick Budget post from our Resources section. For more guidance on starting salaries and cost of living, ask for our All You Need to Know guide.
