Tax havens — jurisdictions with little or no tax — are attractive to individuals and businesses looking to maximize their wealth by reducing their tax burdens. Many entities and corporations establish shell companies, or store their money, in such places to avoid the higher taxes they would face in the US and other countries.

Using 2022 data from Atlas of the Offshore World, Visual Capitalist mapped the world's top 10 tax havens, by offshore wealth in US dollars.

Hong Kong ranks highest overall, with a whopping $2.8 billion of offshore financial wealth held. Following behind are Switzerland ($2.6 trillion) and Singapore ($1.6 trillion).

Outside of the top three, which hold trillions of dollars, are Luxembourg ($629 billion), Jersey ($281 billion) and Bahrain ($270 billion).

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Via Visual Capitalist.