One of the most luxurious places in the world, with jewelry stores and shopping trips worthy of royalty, and only two square kilometers in area. Surrounded by France and on the banks of the Mediterranean Seais a financial and tourist center. A tax haven with beautiful landscapes.
The Principality of Monaco is not only the financial and tourist mecca for the wealthy peoplenor the headquarters of one of the most attractive Formula 1 Grand Prix to see. It also has a very curious story about its inhabitants and the origin of the oldest city-state. millionaire.
Monaco: the country with the most millionaires in the world and the most expensive mansions
Monaco is a principality located in the French Rivierabetween France and the Mediterranean Sea. With a surface area of barely 2.02 km²is the second smallest country in the world, after the Vatican. Its location on the Mediterranean coast gives it a warm and sunny climate, with mild winters and pleasant summers, making it an ideal destination all year round.
Governed as a constitutional monarchy, Monaco is headed by Prince Albert IIa member of the Grimaldi family that remained at the head of the principality for centuries. Although it is a sovereign state, it maintains close relations with France. Its appeal lies not only in its natural beauty, but also in its status as tax havenwhich attracts numerous wealthy individuals and international companies.
montecarlo.jpg
Monaco’s culture and attractions are synonymous with luxury and exclusivity. Monte Carloone of its best-known districts, is home to the iconic Monte Carlo Casino, a world symbol of glamor. In addition, the Monaco Grand Prix, one of the most emblematic races in Formula 1, runs through its streets, which adds a touch of adrenaline and spectacle. For lovers of the sea and science, the Oceanographic Museum It is a must-see, located on a cliff with impressive views. Also very popular is the Prince’s Palace, the official residence of the royal family.
Monaco’s economy is supported by tourismfinance and real estate, sectors that prosper thanks to their reputation as exclusive destination. This small country is known for its high standard of living, where luxury yachts, sports cars and high-end boutiques They are part of the everyday landscape.
Monaco: more than half of its population is immigrants
According to the report “The New World Wealth” prepared by the real estate analysis and management company Knight Frank, in the country there are 13,400 millionairesequivalent to a little more than a third of the population. It has around 39,000 inhabitantshowever only a small part, approximately 20%, are Monegasque origin. The rest of the population is made up of foreigners, mainly French, Italian and British.
There are several reasons why Monaco is a “magnet” for foreigners. Mainly because of its status as “tax haven“, since since 1869, it has not applied income taxes to its residents, with the exception of French citizens due to a specific agreement with France. Nor taxes wealth or inheritances in most cases. Furthermore, it has an excellent security and infrastructure modern that makes life easier there.
monaco city.avif
Furthermore, for years it has held a economic and political neutrality that guarantees financial and social stability. It is a neutral state, which makes it a refuge for people from countries with conflicts. Expat communities are usually well organized, making it easy to social integration. Furthermore, the French language is widely spoken, but English and Italian are also commonwhich reduces linguistic barriers.
Those who were born in the territory have extra benefits above immigrants. They enjoy housing benefits and priority in access to certain jobs. However, to get away from the chaos of the city, many Monegasques live outside the urban center of the principality, in quieter areas such as the Fontvieille neighborhood.
Source: Ambito
