Top 3 Paradises with Low Taxes and Affordable Living for Keeping 90% of Your Income

Montenegro:

Affordable Living and Stunning Beauty:

Montenegro stands out for its affordability, making it an attractive destination for those seeking to keep more of their income. The cost of living is remarkably low, with single-room apartments available for as little as $350-$500. You can comfortably live on less than $1000 a month.

Low Tax Rates:

Digital nomads enjoy a favorable tax environment in Montenegro. In your first year, you pay zero taxes, and thereafter, the income tax ranges from 9% to 15%.

Digital Nomad Visa:

If you earn a minimum of $2000 remotely, you can relocate to Montenegro immediately. The country offers a digital nomad visa that allows you to stay for up to two years.

Breathtaking Beauty:

Montenegro is not just about affordability and low taxes; it's a paradise on Earth. The stunning landscapes and natural beauty make it an ideal place for those seeking a harmonious blend of work and leisure.

Portugal: The Digital Nomad Hub

Portugal has become a hotspot for digital nomads and expats from around the world. The country offers an ideal base for those looking to balance work and travel.

Zero Income Tax for Foreigners:

If you earn your income from outside Portugal, you pay zero income tax. Even if you earn within the country, the tax rate is a reasonable 20%.

Visa-Free Travel Across Europe:

Portugal's D8 Visa allows you visa-free travel across the Schengen area, comprising 26 European countries.

Long Stay and Digital Nomad Visas:

Portugal offers two long-stay visa options, providing flexibility for digital nomads. The residency visa allows an initial four-month stay, extendable to a two-year residence permit. The temporary stay visa allows a 12-month stay, with the option to extend four times.

Georgia: A Beautiful and Tax-Friendly Destination

Georgia, located in Eastern Europe, offers a beautiful backdrop and favorable tax benefits, making it an attractive option for those seeking financial freedom.

Affordable Living:

With a monthly cost of living ranging from $600 to $700, Georgia provides an affordable lifestyle, allowing you to keep more of your income.

Flat Income Tax Rate:

Personal income in Georgia is taxed at a flat rate of 20%, and certain micro-businesses enjoy exemptions from business income tax.

Easy Migration:

Georgia is welcoming to global citizens, allowing residents from 127 countries to stay for 365 consecutive days. The visa application process is streamlined and can be completed online within ten business days.

Easy Banking:

Unlike other countries, Georgia allows you to open a bank account upon arrival, simplifying the relocation process.

In conclusion, these three paradises offer not only low taxes and affordability but also unique features that cater to the needs of digital nomads and those seeking a change. While these are my top picks in Europe, the world is filled with alternatives waiting to be explored.