Somalia

Somalia levies no personal income tax on individuals. Corporate entities face a standard rate of 10%, but the absence of PIT makes this jurisdiction highly attractive for high-net-worth individuals and digital nomads seeking tax efficiency. Capital gains are not taxed in Somalia, which is a significant advantage for investors, traders, and those holding appreciating assets such as cryptocurrency or equities. Foreign-sourced income is generally exempt from taxation in Somalia. This creates a favorable environment for individuals with international income streams, though specific conditions may apply depending on the type of income and residency status. Somalia permits dual citizenship, which provides flexibility for tax planning through establishing residency in a second jurisdiction without forfeiting existing citizenship rights.