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FSI Index Secrecy Score

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Best Countries to Hide Money 2024

International banking is legal in most countries when it is done properly. The best countries to hide money will be the ones that allow you to store and save your assets, and maybe even grow them. Offshore banking or banking in countries to stow away your funds is legal when done for the right reasons and declare on your tax return with your home country.

It is not just for the wealthy. There are some capital gains that can be made tax-free, so declaring it on tax returns doesn’t necessarily mean it will be taxed.

The Best Countries to Hide Money

The top five best countries to hide money are as follows:

The Cayman Islands is home to most of the world’s hedge funds, so it is no surprise that it would also be a great place to hide or store money. This country is known for its tax benefits when it comes to money, as taxes can be avoided through many of the banks here. At the same time, this country also offers confidentiality that many other countries do not in banking, and this is an appeal to the wealthy.

Swiss banks are world-renowned as being among the most professional and discreet in the world. There are only secrets here. You can keep your money here safely, and the Swiss economy is safe enough to keep your own economy secure.

Singapore is another country that is a tax haven for the wealthy, or anyone that has something they just want to put away. This is a good country to hide investment money in or to protect assets that you don’t want to advertise to the world. Singapore banks also offer some of the most expert advice and financial management.

The Chinese banking system is also considered one of the top financial centers of the world, and it should be because it is integral to the global economy. Hong Kong specifically is where the wealthy go to the bank, and it is considered the third-best banking systems on Earth after New York and London. The banking here can be integrated with banks at home through banks such as HSBC with branches all over the world.

Belize is an excellent country to save cash in, and it offers perks that some other international banking systems will not. One is its high-interest rates. Rates can be seen as high as 24 percent in Belize, and online banking makes banking in Belize very easy.

  • Financial Secrecy Index (FSI) is a combined metric. Each country is first given a financial secrecy score which ranges from 0 (no secrecy) to 100 (full secrecy). These scores are then combined with the volume of international customers exploiting this secrecy to determine the final FSI score. The secrecy ratings are broken out for the table below.
  • Different sources use different methodology to determine which countries are the 'best' at hiding money/financial secrecy. As such, the list created by the Tax Justice Center differs from that of Statrys, Best Citizenships, and so on.
  • Countries may be considered good places to hide money for a variety of reasons. Switzerland is known for its devotion to protecting the privacy of owners of financial accounts. The United States, by comparison, is known for the ease with which 'shell' companies used to obscure wealth can be created.

Download Table Data

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Country
FSI Index Secrecy Score
BC Rank
Statrys Rank
Vietnam81
Algeria79
Angola79
Bolivia79
United Arab Emirates798
Puerto Rico78
Antigua and Barbuda77
Saint Kitts and Nevis779
Sri Lanka76
Vanuatu76
Curacao76
Turks and Caicos Islands76
Bangladesh75
Guatemala75
Kuwait75
Maldives75
Belize753
Bahamas75
Anguilla75
Oman74
Qatar74
Barbados74
Monaco74
Montserrat74
Liberia73
Panama737
Gambia73
Brunei73
Samoa73
Cayman Islands735
Venezuela72
Rwanda72
Jordan72
Saint Lucia72
Seychelles728
United States Virgin Islands72
Liechtenstein72
Namibia71
Aruba71
Guernsey7110
Marshall Islands71
British Virgin Islands719
Thailand70
Cameroon70
Switzerland7022
Mauritius7010
Fiji70
Guam70
Bermuda70
Cook Islands70
Tanzania69
Saudi Arabia69
Trinidad and Tobago69
American Samoa69
Egypt68
Bahrain68
United States671
Philippines67
Kenya67
Singapore6736
Saint Vincent and the Grenadines67
Gibraltar67
China66
Pakistan66
Morocco66
Malaysia66
Paraguay66
Grenada66
Nigeria65
Netherlands65
Dominican Republic65
Hong Kong6541
Lebanon65
Isle of Man65
Dominica65
South Korea64
Japan636
Kazakhstan63
New Zealand63
Macau63
Jersey63
North Macedonia62
Cyprus62
Turkey61
El Salvador61
Montenegro61
Russia60
South Africa60
Taiwan60
Chile60
Tunisia60
San Marino60
Ukraine59
Romania59
Israel59
Nauru59
Uruguay58
Germany5774
Spain57
Portugal57
Botswana57
Indonesia56
Australia56
Costa Rica56
India55
Italy55
Hungary55
Austria55
Latvia55
Andorra55
Colombia54
Peru54
Serbia54
Albania54
Malta54
Mexico53
Ghana53
Belgium53
Greece53
Bulgaria53
Slovakia53
Norway53
Croatia53
Ecuador52
Finland52
Canada51
Czech Republic50
Brazil49
Argentina49
Denmark49
France48
United Kingdom47
Ireland47
Poland46
Sweden45
Estonia44
Iceland42
Slovenia36
showing: 138 rows

Where is the best place for banking secrecy?

Switzerland and the Cayman Islands have banks that operate discretely with the money invested in them. Additionally, putting money in the Cayman Islands can offer tax benefits.

Frequently Asked Questions