The Principaliy of Monaco is the second smallest (2.02 sqkm) and most densely populated country (about 36000 inhabitants) in the world. It is located on the French Riviera near the Italian border and it is completely bordered by France. It is not a member of the EU, however as it is part of the common market, customs union, Schengen and is compliant with EU regulatio in nearly all areas. Also the official currency is the Euro. Monaco is a principality governed under a form of constitutional monarchy which however grants the monarch a significant amount of power. The official language is French but Italian and English are widely spoken and understood. The closest international airport is Nice. Find more information here.
- Monaco is one of the safest countries in the world and boasts one of the highest standarts of living.
- Very preferable tax regime
- Travel to all Schengen States without Visa
- Comprehensive tax treaty network
- Income Tax: None *
- Capital Gain Tax: None*
- Gift/ Inheritance Tax: 0 to 16% on Monaco Assets
- Wealth / Net Worth Tax: None
* (unless French citizen)
Cost of Living
- Monaco boasts the worlds highest GDP nominal per capita. The rent of a 1BR appartment can easily top 30.000USD/per year and purchase price can be over 3 million USD. Please find more details here.
- Real Estate Investment or Subscription of a tenancy Agreement
- Applicant must open an account in Monaco to proof the existence of sufficiant means
- Monaco must be the principal residence in order to maintain tax residence status