Countries with no property tax offer high-net-worth individuals a significant benefit in terms of reducing their tax burden. Property tax is levied based on the value of the property, which makes this an essential query for expats looking to invest in real estate abroad.
The countries without property tax in include the Cayman Islands, Malta, Monaco, and the United Arab Emirates. Our guide explores these countries and more to provide an understanding of what property tax is, what other taxes may be levied, the visa options available, as well as the pros and cons of these jurisdictions.
Countries with No Property Tax: Key Takeaways
12 Countries with No Property Tax
01/ Bahrain
In addition to having no annual property tax, Bahrain levies no personal income tax, capital gains tax, or withholding tax. The corporate tax rate is 0%, except for oil companies who must pay 46%. This makes the West Asian nation a desirable location for investors, particularly those interested in property.
The Global Intelligence Unit’s most recent Investment Index ranked Bahrain 35th in the world. The factors used to rank the countries include the business environment, the economy’s strength, and the level of personal taxation.
02/ Cayman Islands
The Cayman Islands are well known for their tax policies and property tax is no different. There is no annual property tax in the country, and there is no capital gains tax. The only tax that property buyers will pay is a one-time stamp duty of 7.5% of the property’s value on purchase.
The nation offers the Cayman Islands Residency Certificate R41 and the Cayman Islands Permanent Residency by Investment R42. The R41 certificate lasts for 25 years, while the R42 certificate provides permanent residency.
The R41 certificate has a starting cost of CI $500,000 (~$600,000), and the R42 CI $2 million (~ $2,4 million). Both programs require investment in developed residential real estate, making them ideal for international property investors.
03/ Dominica
Dominica is a Caribbean nation that levies no national property tax and only a low municipal tax of 1,25% to 1,3% in certain areas such as Roseau and Canefield. Other than this, the nation does not tax inheritance, gifts, or capital gains.
The Dominica Citizenship by Investment program allows expats to gain citizenship in exchange for a qualifying investment with a starting cost of $200,000. The Dominican passport allows access to 160 countries visa-free or visa-on-arrival, including the Schengen Area and China.
04/ Kuwait
Kuwait does not have annual property tax, nor does it levy inheritance or personal income taxes. The Middle Eastern nation is small but oil rich with developed infrastructure and a business-friendly environment. The country does not tax local corporate profits, and for foreign businesses there is a 15% flat tax on net profits.
The country ranks 32nd in the Investment Index, demonstrating its viability for both business and property investing. Kuwait has a growing property market with quarter one 2025 sales increasing by 45% year-on-year to KD 896 million (~$2.92 billion). This growth has largely been driven by high demand in residential and investment areas.
05/ Malta
Malta is an EU member with English as one of the two official languages. The country does not have an annual property tax at either a municipal or national level. The only property tax that is paid is the 5% stamp duty for buyers, and the 8% final withholding tax for sellers. This final tax can be reduced to as little as 2% if the property is a sole residence, sold withing three years of purchase.
The Malta Residency by Investment program, also known as the Malta Permanent Residence Program (MPRP), allows expats to gain permanent residency in the country in exchange for a qualifying investment. Real estate is the only investment option with the starting cost for purchase being €375,000.
Discover the benefits of Maltese residence with our comprehensive Malta Permanent Residence Programme guide
06/ Mauritius
Mauritius is an African island nation, east of Madagascar, that has no annual property tax, capital gains, or inheritance taxes. Buyers will need to pay a 5% registration duty on purchase which increases to 10% for non-citizens from July 1st, 2026.
The country scored 2nd on the Global Intelligence Unit’s Retirement Index, demonstrating its appeal as a destination for expats to retire. The country also has a residency by investment program with a starting cost of $375,000.
07/ Monaco
Monaco is a European principality on the French Riviera that does not impose an annual property tax, inheritance tax, or capital gains tax for most individuals. Additionally, the principality does not have a personal income tax except for French citizens. Monaco ranks 3rd in the Investment Index, further demonstrating its appeal as a place to buy property.
The Monaco Residence Permit, also known as the Monaco Carte de Séjour, allows expats to live in the principality for more than three months per year. It requires individuals to deposit a minimum of €500,000 into a Monacan bank account to prove that they are financially self-sufficient.
08/ Oman
Oman borders the UAE, Saudi Arabia, and Yemen and the nation does not impose an annual property tax. In addition to this, individual property sales are not subject to capital gains tax. Rental income is not taxed, and investors will need to pay a 3% stamp duty when purchasing property.
The property market in Oman is growing rapidly with residential prices increasing by 14.6% in 2025 and the real estate price index rising by 13.9% in quarter four of 2025. Muscat and Musandam, two of the largest cities in the country, saw particularly strong growth with the Muscat Governorate area recording the highest increase in residential land prices at 41.3%.
09/ Qatar
Qatar does not impose an annual property tax on residential or commercial land and there is no capital gains tax from individual property sales. In addition, the country does not impose an inheritance or wealth tax. There is only a 0.25% property registration fee when purchasing a property.
Foreigners are allowed to purchase property in Qatar, but this is only permissible in certain zones like The Pearl, Lusail, and West Bay Lagoon. The country also has a residency by investment program with a starting cost of ~$200,000.
10/ Turks and Caicos Islands
The Turks and Caicos Islands are north of Haiti and have no annual property tax, nor do they levy capital gains, income, or inheritance taxes on real estate. The islands place a stamp duty on property purchases ranging from 0% to 10% depending on the location and the value.
The property market on the islands is experiencing very high growth, which is largely driven by demand for luxury homes. Annual sales increased by 151% between 2021 and 2024, reaching $710 million at the start of 2025. There is a large demand for tourism on the islands, as well as no restrictions on foreign ownership.
11/ United Arab Emirates (UAE)
The UAE does not impose an annual property tax, nor does it tax personal income generated from residential properties. The country does impose a once-off 4% transfer fee which is payable on purchase of the property to the Dubai Land Department.
The Golden Visa UAE is a residency by investment program with a starting cost of AED 2 million (~$545,000) for the real estate option. The program provides investors with a renewable 5- or 10-year visa, and family members like spouses, children, and parents can be included as well.
12/ Vanuatu
Vanuatu does not have an annual property tax, capital gains tax, personal income tax, or a wealth tax for real estate. What investors will need to be aware of is the upfront costs, as they will need to pay a 2% to 5% registration fee, a 5% stamp duty, and 12.5% to 15% VAT.
The Vanuatu Citizenship by Investment program has a starting cost of $130,000 for the donation option and $200,000 for the real estate option. Investors will need to select a preapproved real estate project such as Pacific Springs or Narpow Point Coral Bay on Efate Island.
Countries with No Property Tax Comparison
| Country | Notes |
|---|---|
| Bahrain | No annual property tax; 2% stamp duty on purchase. |
| Cayman Islands | No annual property or capital gains tax; 7.5% stamp duty. |
| Dominica | No national property tax; low rate of 1,25% to 1,3% in some municipalities. |
| Kuwait | No annual property tax or stamp duty. |
| Malta | No annual property tax; 5% stamp duty. |
| Mauritius | No annual property tax; 10% registration duty for non-citizens. |
| Monaco | No annual property tax; 4.5% – 4.75% transfer duty. |
| Oman | No annual property tax; 3% transfer duty. |
| Qatar | No annual property tax; 0.25% property registration fee. |
| Turks & Caicos Islands | No annual property tax; 8% stamp duty. |
| UAE | No annual property tax; 4% transfer fee. |
| Vanuatu | No annual property tax; 2% to 5% registration fee, and a 5% stamp duty. |
Common Taxes in Countries Without Property Tax
Without an annual property tax, countries legislate elsewhere for their tax revenue. Some of the most common taxes include:
- Transfer Fee or Stamp Duty: This is a one-time fee that countries will levy on the purchase of property. The usual range is between 1% and 10% of the property’s value.
- Capital Gains Tax: While there are some countries with no capital gains tax, it is common for nations to levy tax when capital is gained especially on the sale of real estate. This is not always the case as residency status, length of ownership, or use of the real estate can reduce or remove capital gains tax.
- Rental Tax: If an individual is going to rent out the property, then a tax on rental income may apply. This should be considered when planning an international property investment.
- Wealth or Municipal Tax: While there may be no national or federal property tax, there may still be municipal rates and taxes that need to be paid. Additionally, some nations levy a wealth tax on individuals above a certain net worth threshold.
- Value Added Tax: VAT can be added to the purchase price of real estate in certain jurisdictions like Vanuatu. This increases the initial cost of purchasing property and is something that investors should be aware of.
Pros and Cons of Buying Property in a Country with No Property Tax
When investing in international real estate, it is important to weigh the advantages and the potential disadvantages so that an individual can find the best deal for their money.
Pros:
- Lower Recurring Costs: A lack of annual property tax means that investors will not need to worry about an increase in recurring costs. This is particularly beneficial for long-term investors, or investors with multiple properties.
- Increased Yields: Not having the additional expense of property tax means that income can increase. This is especially true in jurisdictions without property tax or capital gains tax.
- Other Tax Benefits: Countries with no property tax often offer other tax benefits like the lack of capital gains tax or no personal income tax. This compounds tax advantages and helps investors maximize their returns.
- Simplicity: Not having to worry about an annual evaluation and the subsequent taxes makes investing in real estate internationally that much simpler. Additionally, this can help to streamline the process and reduce compliance requirements.
- Residence or Citizenship Benefits: Some countries with no property tax also offer residency or citizenship by investment programs. Nations like Vanuatu offer citizenship by investment while nations like Malta and the UAE offer residency by investment. These programs have property as an investment option, meaning expats can increase their global mobility and residency rights through real estate investment.
Cons:
- Higher Initial Costs: Countries without annual property tax still tend to charge upfront costs like a transfer fee or stamp duty, potentially making the initial investment more expensive.
- Limited Infrastructure: Some nations that do not have property tax also do not have highly developed infrastructure.
- Foreign Ownership Restrictions: Certain countries like the UAE, restrict the areas in which foreigners can purchase property. Sometimes expats may also need to surmount more administrative hurdles before a property purchase.
