KEY FACTS ABOUT MONACO
Monaco is a small, independent city-state located on the French Riviera. Known for its luxurious lifestyle, breathtaking views of the Mediterranean Sea, and stunning architecture, Monaco is a popular destination for tourists and expatriates alike. If you are a foreigner considering moving to Monaco, here are some key facts about Monaco you should know.
- Monaco has a land size of approximately 2.02 square kilometres, making it one of the tiniest nations in the world. It is flanked by the Mediterranean Sea on one side and France on three sides. The majority of people in Monaco speak Monégasque, a regional variation of Ligurian, which is also the country's official language.
- Monaco has a lengthy and intriguing past that dates back to antiquity. Monaco was an underdeveloped, impoverished nation at the middle of the 19th century. Nonetheless, Monaco was able to join the French customs union after the Monégasque Treaty was signed in 1861. The first casino was erected in Monte Carlo in 1869, which contributed to the development of Monaco's economy and made it a well-liked tourist destination. The American actress Grace Kelly, who married Prince Rainier III in 1956, was one of Monaco's most well-known inhabitants. Prince Albert II, the current monarch of Monaco, is one of the couple's three children.
- The Prince of Monaco serves as the head of state and is supported by a Council of Government in governing the nation on a daily basis. Moreover, Monaco has a police force made up of both French and Monégasque residents. Although Monaco is not a member of the EU, it maintains close relations with the bloc and uses the euro as its official currency. Monaco is also well-known for having a low income tax rate, which has made it a popular choice for rich people wishing to move there permanently.
- Monaco is renowned for its opulent lifestyle, fine restaurants, and entertainment options. The country is divided into four quarters: Monaco-Ville, La Condamine, Monte-Carlo, and Fontvieille. The city-state is home to numerous important events, including the Monaco Grand Prix, the Monte Carlo Rally, and the Monaco Yacht Show. Each quarter has a unique personality and attractions of its own.
- Warm summers and mild winters are characteristics of Monaco's mild Mediterranean climate.
- Monaco is noted for its high levels of safety and security, with a well-trained police force and low levels of crime, and is home to several historic and cultural treasures, including the Prince's Palace, the Monaco Cathedral, and the Oceanographic Museum.
- Monaco's low income tax rate has made it a sought-after location for affluent people and businesses.
In truth, Monaco does not impose any personal income taxes on its citizens, thus people who live and work.
Monaco is a desirable location for wealthy people and businesses wishing to lower their tax burden, despite these potential tax liabilities due to its low personal income tax rate.
Monaco, one of the most costly cities in the world, exudes luxury in its design, lodgings, and fine dining establishments. The setting for many well-known movies, a visit here will provide you with priceless memories.