Monaco is a country situated in Europe,Monaco is smaller than New York’s Central Park but it is filled with luxury and entertainment with 5 star hotels, stretched out yachts and is the host to the world’s renowned Monte Carlo casino and Monaco race tracks.Monaco is considered as a heaven for millionaires and billionaires.
Monaco is ruled by the Grimaldi family from 700 years, Albert II is now the head of the family and the king of Monaco. Monaco has a population around 38,000 people of which 32% are millionaires.Have you guys ever wondered why Monaco became rich and why to rich people settle there? Did you know 200 years back Monaco was on the verge of bankruptcy and by building casinos and attracting huge tourism and richness Monaco regained its strength.
Why millionaires and billionaires come to Monaco?
In 1869 the government of Monaco banned income tax in the whole country to attract the wealthy, it is everybody’s dream to hold on to maximum of their wealth so many high profile individuals moved to Monaco.
The country has moderate weather throughout the year so many prefer to stay here.
The country Is politically stable under the high authority of Prince Albert II.
Monaco has a GDP per capita of 180,000$ which is much higher than countries like USA, INDIA.
The countries economy is safest because the country has 0 debt.
Monaco has the largest police per capita and is considered safe by many individuals.
Monaco attracts many high profile individuals with posh boutiques, probably the best casino in the world and as many of you may know it is one of the favourite places of James Bond and is featured in movies like casino royals and many more.
Monaco hosts world class events every year such has Monaco Grand Prix, performances from world famous pop stars, hip hop artists.
Monaco has one of the costliest real estate market in the world with having only 0.78 square mile of land the real estate prices are very high and is 3 times that of the real estate of New York City(Manhattan).
These are few of the reasons why many high net worth individuals settle in Monaco. Comment below if you were given a chance to settle here would you take the opportunity.
One of the facts about Monaco is that 60% of people in Monaco either hold a luxury car or yacht.
Share this to your friends and plan your trip to Monaco soon.
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