The final group of tax havens are countries that do have a system of taxation and impose taxes on residents’ worldwide income. However some countries have special concessions that offer considerable tax advantages in special situations. They include: Cyprus, United Kingdom.

They only tax you on locally derived income.
If all your income is derived outside the tax haven you will not pay any tax.

They include: Hong Kong, Panama, Seychelles, Singapore.

These are simply countries that do not have any of the three main direct taxes:

• No income tax or corporation tax
• No capital gains tax, and
• No inheritance tax

The include: Bahamas, Nevis, Cayman Islands.