Résumé:
Monaco is an attractive place to live due to its exceptional quality of life, safety, stability, and economic benefits such as tax exemptions and a thriving real estate sector.
Histoire complète :
Monaco is an attractive place to live due to its numerous advantages. The Principality has a population of 38,367, with only 9,000 being citizens. Citizenship is based on the principle of jus sanguinis, where individuals born to a Monégasque father are considered Monégasque citizens. However, there are opportunities for residents to acquire citizenship through a marriage with a Monégasque citizen.
Many residents are content with the status of residency, which is granted to those who work for a local company or have established a business in Monaco. Residency offers the same tax benefits as citizenship, including exemption from income tax. The large Italian expatriate population of around 6,500 is the largest contingent in Monaco, but the Principality is home to people from over a hundred nationalities. French is the official language of Monaco, but Italian and English are also commonly spoken, especially in the business world.
Monaco’s economy is driven by the service sector, with a significant focus on finance. It is a hub for financial institutions, similar to its neighbor Geneva. The Euro is the official currency, and Monaco has its own coins in circulation. The majority of economic activity is in services, followed by commerce and real estate. The real estate sector alone generates 40,000 jobs and over 11 billion euros in revenue. Tourism is also a significant contributor to the economy, with the famous Monte-Carlo Casino attracting visitors.
Monaco’s exceptional quality of life is one of its main attractions. The city’s location by the sea, coupled with the Mediterranean climate and high-quality infrastructure, contributes to a desirable living environment. The Principality is known for its safety, with a high number of police officers and surveillance cameras ensuring security. The stability of Monaco’s institutions is another key factor. As a hereditary constitutional monarchy since 1911, the Principality has an independent government led by a sovereign prince. The executive power is vested in a Minister of State who presides over a Council of Government. The Prince shares legislative power with the National Council, a single-chamber parliament consisting of twenty-four members elected for five-year terms through universal suffrage.
Monaco’s advantages make it an attractive place for artists and athletes, many of whom choose to reside in the Principality. The city offers a vibrant cultural and sports scene, including the Monte-Carlo Tennis Tournament, the Formula 1 Grand Prix, AS Monaco football team, the Monte Carlo Philharmonic Orchestra, the Printemps des Arts music festival, the Princesse Grace Theatre, the Ballets de Monte Carlo, and the Opera.
Source:
Monaco Tribune
