Which countries have no tax on dividends?

Jurisdictions with zero personal dividend tax in 2026 include Hong Kong, Macau, the UAE, Monaco, the Bahamas, the Cayman Islands, Kuwait, Mauritius, Brunei, Cyprus (for non-domiciled residents), and around 27 others — the full ranked list is in the table above.

Do I still pay withholding tax on foreign dividends?

Usually yes. The country where the paying company is based typically withholds tax at source — for example 30% in the US (reduced to 15% or less under many treaties). Living in a no-dividend-tax country does not remove foreign withholding; only tax treaties can reduce it.

Countries with No Dividend Tax

Countries where dividends are received tax-free by individual shareholders.

38 jurisdictions levy no personal tax on dividend income. Some are the familiar zero-tax centres (UAE, Monaco, Cayman Islands, Bahamas), but the list also includes major economies with deliberate single-layer taxation: Hong Kong and Mauritius tax profits only at the company level, Australia’s franking-credit system effectively eliminates double taxation for domestic shareholders, and Brazil has historically exempted distributed dividends.

For dividend investors, the interaction with withholding tax matters most: even if your country of residence charges nothing, the source country may withhold 15–30% on dividends you receive from foreign shares — recoverable only via tax treaties.

#	Country	Rate	Level
1	Antigua and Barbuda North America	0%	No Tax
2	Bahamas North America	0%	No Tax
3	Bahrain Asia	0%	No Tax
4	Bermuda North America	0%	No Tax
5	British Virgin Islands North America	0%	No Tax
6	Brunei Asia	0%	No Tax
7	Cayman Islands North America	0%	No Tax
8	Kuwait Asia	0%	No Tax
9	Maldives Asia	0%	No Tax
10	Monaco Europe	0%	No Tax
11	Nauru Oceania	0%	No Tax
12	North Korea Asia	0%	No Tax
13	Qatar Asia	0%	No Tax
14	Saint Kitts and Nevis North America	0%	No Tax
15	Turks and Caicos Islands North America	0%	No Tax
16	Tuvalu Oceania	0%	No Tax
17	United Arab Emirates Asia	0%	No Tax
18	Vanuatu Oceania	0%	No Tax
19	Andorra Europe	10%	Very Low
20	Federated States of Micronesia Oceania	10%	Very Low
21	Macau Asia	12%	Low
22	Marshall Islands Oceania	12%	Low
23	Palau Oceania	12%	Low
24	Sudan Africa	15%	Low
25	Hong Kong Asia	17%	Low
26	Mauritius Africa	20%	Low
27	Liechtenstein Europe	22.4%	Moderate
28	Singapore Asia	24%	Moderate
29	Belize North America	25%	Moderate
30	Myanmar Asia	25%	Moderate
31	Brazil South America	27.5%	Moderate
32	Saint Lucia North America	30%	Moderate
33	Saint Vincent and the Grenadines North America	32.5%	High
34	Cyprus Europe	35%	High
35	Iran Asia	35%	High
36	Australia Oceania	45%	Very High
37	Curaçao North America	48.3%	Very High
38	Cuba North America	50%	Very High

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