With 68% of its population foreign-born and over 130 nationalities, Monaco is one of the most welcoming and diverse countries in the world. This attractiveness can be explained by a combination of 3 factors:
With a “very high” safety rating in the international benchmarking database Numbeo, Monaco is one of the safest places to live in the world. The safety of the residents is guaranteed by a large police force (1 policeman / 71 residents, more than four times the European Union average) and 24hour CCTV covering the whole territory with 600 cameras.
In addition, many of the buildings in Monaco benefit from internal CCTV systems and 24 hours concierge service.
2. Quality of life
Monaco benefits from a unique geographical position. Located on the sunny Mediterranean coast, with an average of 300 days of sunshine a year, the Principality enjoys long warm summers and mild winters. With one of the rare deep-water harbors of the French Riviera, its Yacht Club, designed by Sir Norman Foster, and its stunning Oceanographic Museum, commissioned by Prince Albert I in 1889, Monaco has a profound relationship with the Mediterranean. In summer, residents can enjoy the sea through the Larvotto beach or the renown Monte-Carlo Beach Club. In winter, they can also enjoy nice skiing destinations in the South Alps less than an hour and a half drive.
Monaco is located only 20 minutes away (7 minutes by helicopter) from the Nice International Airport, France’s largest airport outside Paris. With over 100 direct destinations, Nice airport is connected to the world.
Like any cosmopolitan place, Monaco offers plenty of world-class experiences for its locals and tourists in just two square kilometers. Restaurants are an essential part of Monaco’s lifestyle as families and friends regularly meet out for lunch or dinner. The range of choices is impressive, from the acclaimed 3 Michelin stars Louis XV which helped propel the career of Alain Ducasse, to a large number of local and authentic restaurants spread across the various districts. The numerous hotels offer a variety of options to grab a drink, from the iconic American Bar at the Hotel de Paris to the cozy Lobby Bar at the Metropole Hotel. The Sass Café or Jimmy’z have seen countless celebrities dancing all night long. The Opera, designed by Charles Garnier in 1879, and the Compagnie des Ballets de Monte-Carlo offer world-class performances to their audiences.
Monaco’s surroundings also provide extensive entertainment opportunities, from the 3 Michelin stars Mirazur restaurant in Menton, voted numerous times as the best restaurant in the world, to the stunning Maeght Foundation in Saint-Paul de Vence. The region also hosts numerous global events all year long such as the Monaco Formula 1 Grand Prix, the Monte-Carlo Tennis Masters, the Monaco Yacht Show or the Cannes Film Festival.
Health and Education are also set at a very high level in the Principality and adds to an exceptional standard of living. The Princess Grace Hospital has been awarded the highest rating by the French Health Authority. Both the public schools and the International School of Monaco, offering classes in English, have an impressive success rate for their respective diplomas.
3. Light tax regime
Monaco is widely known for the light tax regime of its residents. With no personal income or capital gain taxes, the tax regime of the Principality has been and remains very attractive.
However, this light tax regime hasn’t come at the expense of fiscal orthodoxy. Monaco is one of the rare countries in the world with no public debt. Thanks to its sovereign fund (Fonds de Réserve Constitutionnel), the Principality benefits from a strong financial independence.