Wealthy entrepreneurs who want to live well abroad should emigrate to Switzerland, while global executives should consider moving to Hong Kong, according to research by BDO which analysed which countries have the most favourable tax regimes for new residents.

The firm's report, Global Opportunities looks at three broad classes of individuals who might be considering moving to live abroad and makes an assessment of which locations are best suited to these groups in terms of the current tax regime in place.

Switzerland tops the list for entrepreneurs, who BDO says are likely to be looking primarily for tax benefits on dividends taken from their personal company, or capital gains realised on a sale of the company. Next on the list are the UK and then Monaco.

Global Executives, who will be looking for low tax rates on employment income together with other tax breaks relating to remuneration, should consider Hong Kong first, followed by Singapore and the UK.

According to BDO, pensioners should opt for Portugal, New Zealand or Cyprus as they will be looking for favourable tax treatment on annuity income from pensions and/or lump sum payments in countries which have the correct treaty with the country where the pension is sourced to reduce withholding taxes.

Richard Montague, BDO tax partner, said: 'There are many countries around the world that have favourable tax regimes for foreigners living in their country. These vary from a low headline rate of tax, exemption for tax on foreign income, tax breaks on local employment income and lump sum tax regimes. Some of these countries may have traditionally been considered high tax jurisdictions but turn out to be exactly the opposite when the tax breaks for new residents are considered.'