About Monaco
Nestled along the Mediterranean Sea and bordered solely by France, the Principality of Monaco ranks as the second-smallest country globally. Known for its exceptional quality of life, Monaco boasts a mild climate, robust personal safety, modern infrastructure, and the attractive benefit of no income or capital gains tax for its residents.
Monaco Overview
Situated on the Mediterranean Sea and bordered solely by France, the Principality of Monaco is not only the second-smallest country but also one of the wealthiest, with a GDP nearing USD 9 billion. Monaco provides an exceptional standard of living, mild climate, high personal security, modern infrastructure, and the significant advantage of no income or capital gains tax for its residents.
As an independent sovereign state, Monaco is a full member of the United Nations. While French is the official language, Italian and English are also widely spoken. The principality is part of a customs and monetary union with France, and French VAT is applicable.
To qualify for residency, applicants must prove their financial capability to support their lifestyle, particularly their ability to rent or purchase real estate, which is priced similarly to major capital cities. Notably, residents of Monaco (excluding French citizens) benefit from the absence of income tax, capital gains tax, and wealth tax. A residence permit also grants visa-free access to Europe’s Schengen Area.
