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5 Smart Residency Choices: Tax Alternatives for UK Non-Doms!

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immigration based on investment 5 Smart Residency Choices_ Tax Alternatives for UK Non-Doms!

Maximising Tax Efficiency for UK Non-Doms

With recent changes to the UK’s non-domiciled (“non-dom”) status rules, many high net worth individuals are reconsidering their tax residency options. The UK has been an attractive destination for non-doms due to its favourable tax treatment of those whose permanent home is outside of the UK. However, increased taxation and restrictions on long-term non-dom status have prompted many individuals to explore other jurisdictions.

In this article, we will go beyond the financial perks to explore some of the some of the best tax alternative for uk citizens. We’ll examine how these options can potentially enhance your quality of life, providing a more comprehensive view on the delicate balance between fiscal optimization, wealth preservation, and personal fulfillment.

By considering these alternatives, UK residents may discover new ways to manage their tax obligations while simultaneously improving their overall lifestyle and financial well-being.

Read Also : UK’s Modernised Non-Dom Tax Status Rules, What This Means for Business Mobility

1.Caribbean Citizenship by Investment Programs

For individuals seeking citizenship with tax advantages and enhanced global mobility, Caribbean Citizenship by Investment (CBI) programs allow individuals to gain citizenship in exchange for a qualifying investment in the country, typically through real estate or government donations. Other than Antigua and Barbuda, who require a 5 day visit per 5 year period, there are no physical residency requirements in these jurisdictions.

These programs provide enhanced travel flexibility by offering visa-free access to numerous countries and the possibility to live, work and settle in any other member of the CARICOM nations. Caribbean tax regimes are highly attractive for investors who wishes to preserve their wealth, offering favourable conditions without income, capital gains, inheritance, or wealth taxes in the following countries

Antigua and Barbuda requires a minimum donation of USD 230,000, or an investment into real estate at a minimum of USD 300,000. With an attractive tax regime with no personal taxes, as well as allowing a wide range of dependents with minimal additional cost, the relatively lower contribution requirement makes this jurisdiction an attractive option for individuals and their families.

Dominica requires a minimum of USD 200,000 government donation or a minimum investment of USD 200,000 into real estate plus payment of government fees, starting at USD 75,000 for a single applicant. This program is the lowest cost donation option for a single applicant.

Grenada’s CBI program requires a minimum government donation of USD 235,000 or a real estate investment starting at USD 270,000. One of the unique features of Grenada’s CBI program is that it allows citizenship holders to apply for a US E-2 visa after three years, which can facilitate business opportunities in the United States.

St Kitts and Nevis allows applicants to choose between a minimum government donation of USD 250,000, a minimum contribution of USD 250,000 into an approved Public Benefit Project, or a real estate investment starting at USD 400,000. St Kitts and Nevis is the longest standing CBI program.

St Lucia requires a minimum government donation of USD 240,000 or a minimum investment of USD 300,000 into Government bonds plus a relevant government fee. This bond option is unique to St Lucia and allows for wealth preservation with a 100% bond redemption without interest after 5 years.

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Read Also : Citizenship by Investment in the Caribbean: 2025 Comparative Guide

2. Cyprus – Permanent Residency through Real Estate Investment

Cyprus’s Permanent Residency Program offers permanent residency to individuals who invest EUR 300,000 in real estate. Permanent residency in Cyprus includes benefits such as visa-free travel within the EU Schengen Zone once Cyprus gains full Schengen membership, which has been expected to be by the end of 2024, although its accession is still in progress.

Cyprus tax regime is one of the most favourable in Europe; including no tax on wealth, inheritance, or gift taxes, making it ideal for preserving international wealth, and a lower personal tax rate than in the UK. Under this regime, individuals who are tax residents in Cyprus but are not domiciled there are exempt from taxation on their worldwide income. The low corporate tax rate of 12.5% also makes Cyprus an appealing location for establishing business, Cyprus is considered to be a low tax country.

The program has minimal residency requirements and allows applicants and their families the right to live, study, and establish a business in Cyprus, but without the automatic right to work. Cyprus provides the potential for citizenship after 7 years of residency. With its warm climate and Mediterranean lifestyle, Cyprus is an attractive option for those seeking both tax advantages and an appealing quality of life.

3. Malta – Permanent Residency

Under Malta’s Permanent Residency program, foreign income remitted to Malta is taxed at a flat rate of 15%, with a minimum annual tax contribution of EUR 15,000. Foreign income that remains outside Malta is not subject to local taxation, which is advantageous for non-doms with significant overseas earnings. Under this program, applicants and their families have the right to live, study, and set up a business in Malta, but not the automatic right to work. As an EU member, Malta also offers residents visa-free access across the Schengen Area, providing great travel flexibility.

To qualify for the program, an investor must either rent or purchase a property in Malta to be held for at least five years. The investor must also make mandatory contributions to Malta such as administrative fees (EUR 40,000) and government contributions (EUR 28,000 for purchase or EUR 58,000 for rentals).

4. Greece – The Golden Visa Program

Greece’s Golden Visa program is a popular choice for high net worth individuals seeking residency through investment and a low tax country. By investing a minimum of EUR 250,000 (depending on location) in Greek real estate, individuals and their families can obtain residency permits granting the right to live, study, and establish a business in Greece but without automatic working rights.

With a low minimum stay requirement, Greece offers a favourable tax regime for non-doms, including a flat EUR 100,000 annual tax on global income for up to 15 years and no wealth or inheritance taxes. After seven years of residency, investors can apply for Greek citizenship which offers the benefits of EU citizenship including visa-free access across the Schengen Area. 

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Read Also : Borderless Living: The Importance of Global Mobility and Multiple Citizenships in 2025

Choosing the Right Jurisdiction

Each of the jurisdictions discussed above offer unique benefits. Choosing the right jurisdiction will depend on factors such as desired lifestyle, financial goals, and the level of tax efficiency required.

Harvey Law Group is a leading international law firm specialised in residency and citizenship by investment programs since 1992. Operating in over 20 offices worldwide and representing over 25 countries for their respective programs, our firm mostly assists high net-worth individuals, business executives, entrepreneurs, professionals as well as their families to secure residency or citizenship abroad.If you are considering your options following the changes to the UK’s non-dom rules and would like to discuss any of our citizenship or residency by investment options, please contact Harvey Law Group at [email protected] or by telephone at +44 0203 405 5762 and we will be pleased to discuss your requirements in more detail.

ABOUT THE AUTHOR

Picture of Jean-François Harvey

Jean-François Harvey

Jean-François Harvey is recognized internationally as an expert in immigration law, and he brings a wealth of experience in providing comprehensive immigration law services to corporations and high net worth individuals.

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