There are many reasons why Monaco is one of the most desirable places to live in the world, particularly for high net worth (HNW) individuals, we look at the top 5 reasons to live in Monaco:
Its stunning location on the French Riviera offers residents a Mediterranean climate, with around 300 days of sunshine each year, whilst also being in close proximity to the mountains of the Southern Alps.
It’s ideally located for business people, with access to other European cities from Nice’s international airport. It is also within easy reach of some of Europe’s most exclusive resorts, including Cannes and Saint Tropez.
Aside from its stunning coastal location, residents of the Principality also benefit from its tax incentives; not being required to pay income tax on their global income, capital gains tax and wealth tax is a big draw.
Health and security benefits
Monte Carlo was rated the third healthiest place to live in The CNN 10 Healthiest Cities 2014 list as well as the Principality being known to be one of the safest locations to live, with an extremely low crime rate and high ratio of police to residents. This coupled with the variety of exceptional schools and highly regarded university makes it a very attractive option for families.
Culture and sport
The Monte Carlo Philharmonic Orchestra, opera scene and award-winning Grimaldi Forum mean that Monaco is not short on culture. It also offers a lot for sports fans; it’s home to the International Association of Athletics Federation and has its own successful football team. Monte Carlo also hosts one of the most famous Formula 1 races in the world as well as the Monte Carlo Rolex Masters tennis tournament and the Monaco Yacht Show. It is also very close to the star studded Cannes Film Festival.
Monaco’s luxury property is some of the most exclusive in the world, with its Odeon Tower widely thought to be one of the best places to live. For people who want to experience its lifestyle, understanding the intricacies of the Monaco property market is crucial and that is where our experiences and multilingual team can help.
The market is very liquid and fast paced and accessing it can be challenging. It is common for a purchase to go from offer to completion in just a couple of weeks and Enness International can facilitate this process for you, guiding you through it and structuring your finances in a way that optimises tax efficiency.