Gibraltar

Category 2 status caps a wealthy resident's income tax at £42,380 a year (minimum £37,000), with no capital gains tax, no inheritance tax, no VAT, and no tax on bank interest or listed-share dividends. It is one of the cheapest high-net-worth deals in Europe, but the government announced in June 2026 that the net wealth test for new applicants will rise from £2 million to £5 million. Category 2 holders generally may not work or run a business in Gibraltar, and a UK citizen still needs a residence permit.