A recent study by international health insurance provider William Russell has named Oman the most affordable tax-free country for expatriates in 2024, marking the second consecutive year it has claimed the top spot.
The study evaluated key relocation costs, including flight expenses, rent, and utility bills, and ranked countries based on their budget-friendly options for expats.
How Oman Secured the Top Spot
Oman achieved a relocation score of 7.92 out of 10, excelling in areas like housing affordability and living expenses. Renting or purchasing an apartment in Oman is the cheapest among the surveyed countries, and the average monthly utility cost is about $103, making Oman the third most affordable country globally for utilities.
Oman also offers one of the lowest monthly costs excluding rent, with the average monthly salary around $2,205. Flights to Muscat are reasonably priced, with one-way tickets costing around $227 from London and $492 from New York.
Other Budget-Friendly Tax-Free Destinations
Kuwait ranked second, with a relocation score of 6.49. Known for its low monthly costs and utility expenses, flights range from $166 to $690 depending on the departure city.
Bahrain secured third place with a score of 6.36. It’s the second cheapest country for apartment purchases, averaging $173 per square meter, and ranks fifth for both living costs and utilities.
Other countries in the top ten include the UAE, Brunei, Maldives, Qatar, Bahamas, Monaco, and the Cayman Islands.
Least Affordable Tax-Free Country
At the bottom of the list, Vanuatu was ranked as the least affordable tax-free destination, with a relocation score of only 2.08. Monthly costs average $1,113, and utility bills are approximately $198. The average monthly salary in Vanuatu is much lower at $616.