Wondering why so many people wish to move to Monaco? The Principality regularly tops the list as one of the world’s best destinations to call home, thanks in part to its enviable location, luxury lifestyle, political and economic security, and mild tax regime. The Principality of Monaco is home to many celebrities, VIPs, and A-listers, making it one of the most glamorous destinations globally. If you want to enjoy the very best life has to offer while residing in one of the world’s most exclusive destinations, read on. Here are 10 reasons why people move to Monaco.
1 – Move to Monaco as it is full of millionaires
Monaco boasts the highest number of millionaires per capita – indeed, more than 30 per cent of Monaco’s residents are millionaires, and many are multi-millionaires and billionaires. With such an ultra-wealthy population, the Principality naturally boasts an exceptional choice of service providers catering to the demands of the world’s richest.
2 – Move to Monaco because it is the safest country in the world
According to the Global Risk Index, which analyses risk based on natural hazards, political and economic security, and environmental factors, Monaco is the safest country in the world. Monaco has a very low crime rate, and the city-state boasts the largest per capita and per area police force, with around one police officer for every 70 residents.
3 – Move to Monaco for its enviable location & climate
Monaco’s desirable location along the French Riviera in the heart of Europe ensures residents benefit from a wonderful year-round climate with sun-drenched days in the summer and a mild winter. The Principality’s temperate Mediterranean climate ensures an average temperature of around 16.5C. Monaco’s location provides a wealth of options, with the delights of Italy just a moment’s away and the French Alps’s luxury ski resorts within easy reach for winter sports enthusiasts. The Nice Cote d’Azur Airport is just a 30-minute drive by car – or a short transfer by helicopter – and provides connections to global hubs.
4 – Move to Monaco for its superb selection of luxury prime real estate
As one of the world’s wealthiest countries, Monaco boasts a superb selection of prime real estate, with luxury developments that boast world-class amenities and sensational design. Many Monaco buildings were designed by highly acclaimed architects and designers. Many luxury apartments, penthouses, and villas boast superb views of the Mediterranean coast and fantastic amenities, including fully equipped gyms, swimming pools, and concierge services. Monaco real estate prices are among the world’s highest; however, for many, the price is worth it, as renting or owning luxury real estate is a route to Monaco citizenship and a life of luxury.
5 – Move to Monaco as it offers a robust financial infrastructure
Monaco is a key international financial centre with a well-regulated, stable and secure financial ecosystem. The Principality is home to numerous banks, financial companies, asset management companies, and family offices. The city-state’s robust financial markets make it an excellent place to do business and offer wealthy people peace of mind that their wealth is protected.
6 – Move to Monaco as it offers political and economic security
Monaco is considered one of the most politically and economically secure countries in the world. The Principality is a fast-developing sovereign nation governed by a constitutional monarchy. While Monaco is not part of the EU, its special relationship with France means that the Principality is part of the EU customs territory and has established a permanent relationship with the EU by accrediting an Ambassador to Brussels. This helps seal Monaco’s status as one of the world’s most politically and economically secure countries.
7 – Move to Monaco to benefit from its low tax regime
It’s no secret that one of the primary reasons the world’s most affluent individuals choose to reside in Monaco is its low tax regime. Almost all Monaco residents (except US and French citizens) benefit from no personal income or capital gains tax. Companies also benefit from a favourable tax system with no direct tax on businesses unless more than 25% of their turnover is generated outside of the Principality.
8 – Move to Monaco and enjoy a lavish lifestyle & world-class events
Monaco’s residents enjoy one of the world’s most lavish lifestyles. The Principality boasts an enviable roster of world-class service providers, including luxurious resorts, spas, designer boutiques, and lifestyle concierge services. Luxury yachts can berth in the iconic Port Hercules and enjoy the famed Yacht Club de Monaco while enjoying easy access to some of the French Riviera’s most elegant port of call, including St Tropez and Cannes. The Principality also hosts some of the world’s most glamorous events, including the Monaco Yacht Show and the F1 Monaco Grand Prix. At the Grimaldi Forum, residents can also enjoy a busy schedule of shows and events.
9 – Move to Monaco and feast at multiple Michelin-starred restaurants
The Principality is a must-visit for gourmands, with a superb selection of Michelin-starred restaurants. Amongst the best is the three Michelin-starred Le Louis XV – Alain Ducasse a l’Hotel de Paris. Other Michelin-starred restaurants include Le Grill, La Table d’Antonio Salvatore au Rampoldi, Yoshi, and Pavyllon Monte-Carlo, a restaurant by Yannick Alleno.
10 – Move to Monaco because it is an excellent destination for family life
Monaco is a wonderful destination for families, with residents enjoying access to world-class healthcare and a selection of fantastic schools, including international schools. Children’s playgrounds are peppered throughout the Principality, while the recently re-developed Larvotto Beach is a favoured destination. Lapped by the Mediterranean Sea, the artificial beach offers a safe swimming area with crystal-clear water. In the summer, it is protected by an anti-jellyfish net and watched over by trained lifeguards. The beach is flanked by a great selection of eateries, making it an ideal destination for a family day out in the sun.
Now you know just some of the reasons why people move to Monaco, it’s time to make the move yourself! If you are considering moving to Monaco and would like to browse luxury real estate for sale or rent, the team at La Costa Properties Monaco can help. As a Monaco real estate agency with more than 40 years of expertise, our market intelligence is second to none. We have helped hundreds of ex-pats seeking to relocate to the Principality with their real estate needs and boast the finest selection of properties for rent and sale, including access to off-market listings. Contact our team today.
