Monaco on a shortlist of popular places to relocate to

Mild winters, warm summers, incredible food, two marinas full of yachts and a setting on a dazzling coastline studded with luxurious homes; Monaco has everything going for it.

The Principality is one of the safest countries in the world too, with practically zero crime and no paparazzi, excellent educational establishments, multiple transportation options, and a thriving economy.

Include the fact that Nice Airport is just a 30-minute drive away – or five minutes by helicopter – and you have a perfect base from which to travel anywhere else in the world with ease.

Monaco has long been a destination for the jet-set, a playground of the rich. The resident population has the highest concentration of wealth in the world. But it’s not just the spectacular setting that draws the wealthy to the Principality. Monaco’s competitive business and finance ecosystem provides an abundance of opportunities for entrepreneurship and wealth creation.

The country’s fiscal policies have also helped to ensure Monaco remains a preferred destination for foreign investors.  Because the Principality raises the funds it needs in other ways such as VAT and corporation tax receipts, it can offer residents a benign personal taxation regime.

So, for non-French nationals, there is no personal income tax, no capital gains or wealth tax, and no inheritance or gift taxes for heirs in the direct line. In addition, no real estate tax or local residence tax is levied in the Principality.

No action should be taken on the basis of this note, nor should it be construed as amounting to tax, legal or VAT advice. Suitable, specific and professional advice should always be obtained in respect on any particular issue.

 

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