Qatar has figured among the ‘most affordable’ tax-free countries to relocate in 2024, according to research findings of William Russell, which specialises in expat insurance.
"Coming in seventh and making yet another appearance for the Middle East is Qatar, earning a relocation score of 5.6 out of 10," said the report.
The country has a population of approximately 2.7mn. A one-way economy ticket to the country’s capital, Doha, will cost expats around $356 from London and $551 from New York, it said.
On an average, buying an apartment in Qatar, costs around $403 per sq m.
"It is the fourth most affordable tax-free country for monthly utilities, costing approximately $112. The average monthly net salary in Qatar is $4,327," the report said.
Oman is the most affordable tax-free country to relocate to in 2024, with a relocation score of 7.92.
Oman is the cheapest country to purchase or rent an apartment, as it has the lowest monthly living costs. It is also the third cheapest country for monthly utility bills, costing around $103.
Another Gulf country Kuwait is the second most affordable tax-free country to move to this year, with a relocation score of 6.49. It is also the second most affordable country for both monthly costs and utility bills.
Bahrain ranks in third place as the most affordable tax-free country to relocate to in 2024, earning a relocation score of 6.36.
Bahrain is the second cheapest country to purchase an apartment in, costing $173 per sq m, on average. It is also the fifth most affordable country for both monthly costs and utility bills.
The UAE was ranked as the fourth most affordable tax-free country, with monthly costs of around $959, while the average monthly net salary is around $3,474.
William Russell said besides insurance, expatriates also need to consider various other costs, such as flights, rent, and utility bills.
In fifth place is Brunei, earning a relocation score of 5.58/10. The country is a tiny nation in Asia and has a population of almost 454,000 people. A one-way economy ticket to the country’s capital city, Bandar Seri Begawan, will cost expats around $942 from London and $1,236 from New York.
Brunei is the second cheapest country to rent an apartment, costing around $492 per month, on average. It is also the second most affordable country for both monthly costs and utility bills, joint with Kuwait. The average monthly net salary in Brunei is $1,715.
The Maldives is the sixth most affordable tax-free country, receiving a relocation score of 5.32/10. The country is located in South Asia and has a population of approximately 518,700 people. Expats can expect to pay around $530 for a one-way economy ticket from London to the country’s capital, Malé. Those flying from New York can expect to pay around $722 for the same ticket.
The Maldives is the third cheapest country to both buy and rent an apartment in, costing around $197 per sq m and $740 per month respectively. It is also the third cheapest tax-free country in terms of monthly costs, with expats having around $791 worth of expenses each month. The average monthly net salary in the Maldives is $926.