Every list of "secret" money cities repeats the same lines: banks that never talk, islands that ask no questions, owners nobody can find. Most of those lines are a decade out of date.
Below are the 10 places such lists always name, each with the saying people repeat, what the record shows in 2026, the sources for every fact, and what $1M of income a year keeps there under 2026 rules.
What changed
Since 2017, more than 100 countries swap account data on each other's residents automatically under the OECD Common Reporting Standard. The June 2026 list holds 125 jurisdictions. Zurich, Cayman, London, Dubai, Monaco, Singapore, Panama, New Zealand and Lugano are all on it. The United States is not. The most private place on this list is now the one most people would name last.
01 Zurich, Switzerland
The capital of private banking still holds more money than ever. What it no longer holds is secrets about foreign clients.
The saying
“Swiss banks never talk.”
The record in 2026
Discreet, no longer secret.
Zurich ranks 1st on the Patrician.ch 100Income tax on $1M a year in Zurich: 36%
Switzerland exchanges account data on foreign clients automatically with 116 partner states under the OECD standard, on a legal basis in force since 1 January 2017.
Source: State Secretariat for International FinanceSwiss banks managed a record CHF 9,729.1 billion at the end of 2025, and 45.9% of it belonged to clients domiciled abroad.
Source: Swiss Bankers Association, Banking Barometer 2026A federal register of the beneficial owners of Swiss companies takes effect on 1 October 2026. It is closed to the public and open to the authorities.
Source: Bär & KarrerUBS took over Credit Suisse in March 2023 and finished moving its former clients onto UBS systems in March 2026.
Source: Swissinfo
02 George Town, Cayman Islands
A territory of about 91,000 people that registers more than 31,000 investment funds.
The saying
“No tax, no questions.”
The record in 2026
No tax, plenty of questions.
George Town ranks 49th on the Patrician.ch 100Income tax on $1M a year in George Town: 0%
The Cayman Islands levy no individual income tax, no corporate income tax, no wealth tax and no inheritance tax. Property transfers carry 7.5% stamp duty.
Source: Deloitte Tax Highlights 2026The Cayman Islands Monetary Authority recorded 31,145 regulated funds at the end of June 2026, 13,013 of them mutual funds, the category where hedge funds register.
Source: Radio Cayman, citing CIMAThe Financial Action Task Force took the Cayman Islands off its grey list in October 2023.
Source: Clifford ChanceThe register of beneficial owners is not public. Access goes to those who show a legitimate interest, under an amendment act of 2025.
Source: Citco
03 London, United Kingdom
London spent 4 years closing the doors it was famous for: anonymous property and the non-dom regime.
The saying
“Shell companies own the skyline, under names nobody knows.”
The record in 2026
Owners on the record, non-doms gone.
London ranks 21st on the Patrician.ch 100Income tax on $1M a year in London: 43%
Since 1 August 2022 every overseas company that owns UK property must name its beneficial owners on the Register of Overseas Entities. More than 30,000 had registered by December 2023.
Source: GOV.UKThe remittance basis for non-domiciled residents ended on 6 April 2025. A 4-year regime for new arrivals replaced it, after which worldwide income is taxed.
Source: ACCAIn the year to 14 May 2025, 5 Unexplained Wealth Orders were sought in court and all 5 were granted.
Source: Home OfficeOverseas companies held 91,791 property titles in England and Wales in 2025, against 47,787 in 2015.
Source: Search Acumen data, via Sold.co.uk
04 Dubai, United Arab Emirates
The city that drew more millionaires than any other in 2025, by the leading estimate, has spent 3 years being cleared by the watchdogs.
The saying
“0% tax, and nobody asks where the money came from.”
The record in 2026
Still 0% on salaries, now off the watchlists.
Dubai ranks 2nd on the Patrician.ch 100Income tax on $1M a year in Dubai: 0%
The UAE levies no personal income tax. Its first federal corporate tax, 9% on profits above AED 375,000, applies from financial years starting on or after 1 June 2023 and does not touch salaries.
Source: Khaleej Times, WAMThe Financial Action Task Force took the UAE off its grey list on 23 February 2024.
Source: The NationalIn June 2025 the European Commission moved to take the UAE off its list of high-risk countries for money laundering.
Source: OCCRPHenley & Partners estimated a net inflow of 9,800 millionaires into the UAE in 2025, the most of any country. It is an estimate, not a count.
Source: Gulf News, citing Henley & Partners
05 Monaco
Fewer than 39,000 residents of 144 nationalities, and a grey listing that ended 9 days ago.
The saying
“No income tax, and the ledgers are as spotless as the streets.”
The record in 2026
No income tax, and a clean bill since October.
Monaco ranks 3rd on the Patrician.ch 100Income tax on $1M a year in Monaco: 0%
Monaco counted 38,857 residents on 31 December 2025, of 144 nationalities. Monegasques were 24% of them.
Source: Monaco Tribune, citing IMSEEMonaco was placed under increased monitoring by the Financial Action Task Force in June 2024.
Source: SumsubThe Financial Action Task Force removed Monaco from its grey list at its plenary of 30 October 2026, with Bulgaria, Côte d'Ivoire and the Democratic Republic of the Congo.
Source: All India Radio, FATF outcomesMoney laundering convictions in Monaco rose from 3 in 2021 to 28 in 2025, according to the principality's authorities.
Source: Malay Mail
06 Singapore
Asia's private banking capital, home to more family offices than almost anywhere, and the scene of its largest laundering case.
The saying
“Orderly, clean, efficient secrecy.”
The record in 2026
Efficient, and enforcing.
Singapore ranks 5th on the Patrician.ch 100Income tax on $1M a year in Singapore: 21%
More than 2,000 single family offices held Singapore tax incentives at the end of 2025, up from about 400 at the end of 2020.
Source: Monetary Authority of SingaporeAssets managed from Singapore reached S$6.7 trillion at the end of 2025, up 10.1% in a year.
Source: The Business Times, MAS surveyIn the 2023 laundering case, police seized or froze about S$3 billion in assets. 10 people were convicted and jailed, and 17 who had left agreed to give up about S$1.85 billion.
Source: Mothership, citing the Singapore PoliceSingapore's top rate of personal income tax is 24%, on income above S$1 million, since the year of assessment 2024.
Source: Yahoo Finance Singapore
07 Panama City, Panama
10 years after the leak that carries its name, Panama is rewriting the rules that made it famous.
The saying
“Shell companies, front businesses, owners nobody can find.”
The record in 2026
Off the EU blacklist, under new substance rules.
Panama City ranks 85th on the Patrician.ch 100Income tax on $1M a year in Panama City: 0%
The Panama Papers, published on 3 April 2016, put more than 11.5 million records on more than 214,000 offshore entities into the open.
Source: ICIJOn 9 October 2026 the EU moved Panama from its blacklist of non-cooperative tax jurisdictions to its watchlist.
Source: KPMGLaw 526 of 2026 keeps Panama's territorial system but adds an economic substance test: passive foreign income of companies in multinational groups that fail it can face a final 15% tax, from the 2027 fiscal year.
Source: Baker McKenziePanama reports financial accounts under the OECD Common Reporting Standard, one of 125 jurisdictions on the list of June 2026.
Source: OECD list, via UAE Ministry of Finance
08 Queenstown and Wellington, New Zealand
The country tech founders talk about for the end of the world has just reopened its luxury homes to wealthy investors.
The saying
“Billionaire bunkers, far from everything.”
The record in 2026
A hedge, now open to investors.
Queenstown ranks 31st on the Patrician.ch 100Income tax on $1M a year in Queenstown: 38%
Since 6 March 2026, holders of New Zealand's investor resident visas can apply to buy or build a home worth NZ$5 million or more, with consent usually granted within 5 working days.
Source: Land Information New ZealandThe Active Investor Plus visa asks for NZ$15 million of weighted investment, or NZ$5 million invested directly in New Zealand businesses.
Source: Immigration New ZealandNew Zealand ranks 2nd of 163 countries in the 2026 Global Peace Index, behind Iceland.
Source: Institute for Economics and PeaceNew Zealand reports financial accounts under the OECD Common Reporting Standard.
Source: OECD list, via UAE Ministry of Finance
09 Lugano, Switzerland
Swiss law with an Italian accent, and the only city in Europe that takes its taxes in bitcoin.
The saying
“Crypto capital, off the radar.”
The record in 2026
Crypto in the open, Swiss reporting underneath.
Lugano ranks 9th on the Patrician.ch 100Income tax on $1M a year in Lugano: 35%
Under its Plan ₿, launched in 2022, the City of Lugano accepts bitcoin and USDT for its taxes and fees, and more than 360 merchants take them.
Source: City of Lugano, Plan ₿The Plan ₿ Forum draws more than 2,500 people to Lugano each year.
Source: City of Lugano, Plan ₿Taxation on living expenses, the Swiss lump sum, remains open in most cantons. Zurich abolished it in 2010, and 4,557 people were taxed this way at the end of 2018.
Source: Swiss Federal Department of FinanceAccounts held in Lugano are reported abroad like any other Swiss account, to the 116 partner states of Switzerland.
Source: State Secretariat for International Finance
10 Wilmington, Delaware
The quietest secrecy story of 2026 is American, and it is getting quieter.
The saying
“More companies than people, and nobody knows who owns them.”
The record in 2026
The one place on this list getting more private.
Nearest of the Patrician.ch 100: New York, 20thIncome tax on $1M a year in Wilmington: 38%
Delaware counted 2,287,728 business entities at the end of 2025, with 334,461 formed that year.
Source: Delaware Division of CorporationsMore than two-thirds of the Fortune 500 are Delaware companies, and nearly 70% of US initial public offerings in 2025 chose Delaware.
Source: Delaware Division of CorporationsFinCEN exempted US companies and US persons from beneficial ownership reporting in March 2025, and made it permanent in a final rule of 11 August 2026. Only foreign companies registered in a US state still report.
Source: BDOThe United States is not among the 125 jurisdictions that exchange account data under the OECD Common Reporting Standard.
Source: OECD list, via UAE Ministry of Finance
The 10 at a glance
| Place | The saying | The record in 2026 | Income tax on $1M | |
|---|---|---|---|---|
| 01 | Zurich, Switzerland | Swiss banks never talk. | Discreet, no longer secret. | 36% |
| 02 | George Town, Cayman Islands | No tax, no questions. | No tax, plenty of questions. | 0% |
| 03 | London, United Kingdom | Shell companies own the skyline, under names nobody knows. | Owners on the record, non-doms gone. | 43% |
| 04 | Dubai, United Arab Emirates | 0% tax, and nobody asks where the money came from. | Still 0% on salaries, now off the watchlists. | 0% |
| 05 | Monaco | No income tax, and the ledgers are as spotless as the streets. | No income tax, and a clean bill since October. | 0% |
| 06 | Singapore | Orderly, clean, efficient secrecy. | Efficient, and enforcing. | 21% |
| 07 | Panama City, Panama | Shell companies, front businesses, owners nobody can find. | Off the EU blacklist, under new substance rules. | 0% |
| 08 | Queenstown and Wellington, New Zealand | Billionaire bunkers, far from everything. | A hedge, now open to investors. | 38% |
| 09 | Lugano, Switzerland | Crypto capital, off the radar. | Crypto in the open, Swiss reporting underneath. | 35% |
| 10 | Wilmington, Delaware | More companies than people, and nobody knows who owns them. | The one place on this list getting more private. | 38% |
Where privacy went, and what still sets these places apart
Secrecy is no longer what separates these places. What still does is tax, safety, the rule of law, and how a family actually lives there. Those are what the Patrician.ch 100 ranks, place by place, and what the ranking on your own income models: your income, your passports, your household.
Sources
- OECD Common Reporting Standard, list of participating jurisdictions
- State Secretariat for International Finance
- Swiss Bankers Association, Banking Barometer 2026
- Bär & Karrer
- Swissinfo
- Deloitte Tax Highlights 2026
- Radio Cayman, citing CIMA
- Clifford Chance
- Citco
- GOV.UK
- ACCA
- Home Office
- Search Acumen data, via Sold.co.uk
- Khaleej Times, WAM
- The National
- OCCRP
- Gulf News, citing Henley & Partners
- Monaco Tribune, citing IMSEE
- Sumsub
- All India Radio, FATF outcomes
- Malay Mail
- Monetary Authority of Singapore
- The Business Times, MAS survey
- Mothership, citing the Singapore Police
- Yahoo Finance Singapore
- ICIJ
- KPMG
- Baker McKenzie
- Land Information New Zealand
- Immigration New Zealand
- Institute for Economics and Peace
- City of Lugano, Plan ₿
- Swiss Federal Department of Finance
- Delaware Division of Corporations
- BDO
Figures come from the Patrician.ch 2026 model: indicative headline brackets for a non-US single filer, current to October 2026. Research, not tax, legal or immigration advice.