Tired of all the taxation? Move to Monaco!
Monaco is home to nearly half of all Formula 1 drivers:
• Lewis Hamilton
• Max Verstappen
• Charles Leclerc
• Lando Norris
• George Russell
• Valtteri Bottas
• Sergio Perez
• Nico Hulkenberg
• Alex Albon
This is primarily because of three reasons.
Taxes: Monaco has no income tax, no wealth tax, no local tax, no property tax, and no capital gains tax.
Privacy: There are 12,000 millionaires living in Monaco — 1/3 of the entire population — so F1 drivers don’t have to deal with crazy fans. And with the government requiring written permission for all professional photography, there are also fewer paparazzi.
Location: The Nice airport is only 15 miles from Monaco, which is especially important because F1 drivers will travel over 75,000 miles this year alone.
And it doesn’t hurt that Monaco’s weather is incredible, and the views are equally spectacular.
https://www.mansionglobal.com/buy/monaco
Permanent residency and citizenship in Monaco requires a minimum investment of €1,000,000, with €500,000 to be deposited in a Monaco bank and the remaining €500,000 for property purchase in Monaco.
Also €500,000 doesn’t go very far in Monaco.
Personally I’d love to live there and travel around Spain and Portugal.
Thank you for contacting us about Monaco residency (there is no citizenship program in Monaco).
What is your ultimate goal? Are you planning to move to Monaco (183 days or more per year) to receive Monaco tax residency status? If relocating is not an option, have you considered the low-tax jurisdiction of Malta with no minimum residency requirements?
In summary, there are two basic application prerequisites to receive the permanent residency card (“Carte de Sejour”) in Monaco:
1. All applicants must show proof of accommodation.
Proof of accommodation may entail acquiring local real estate, renting an apartment for a minimum of one year, being the director of a company that holds corporate real estate in Monaco, or providing a letter and proof of property ownership/rental from a close relative with whom the applicant plans to live in Monaco.
2. In addition, all applicants must show proof of financial self-sufficiency.
Financial self-sufficiency may be demonstrated by depositing at least EUR 500,000 into a local bank account, or showing employment with a Monaco company, or forming a new company in Monaco that creates at least ten new jobs for local residents, or providing a letter of support from a close relative with whom the applicant plans to live in Monaco.
Please be aware that the Monaco residency program does not lead to Monaco citizenship/passport, and that Monaco is not a member of the European Union. If your budget allows for EU citizenship (the EU passport) please review our Malta Citizenship by Investment program (https://malta-citizenship.info/malta-citizenship-by-investment-program.html).
NEXT STEPS FOR MONACO RESIDENCY:
1. Please explain how you will prove financial self-sufficiency. BANK DEPOSIT OPTION
2. Please complete this Monaco property wish list to indicate your preferences regarding buying or renting a personal residence in Monaco: https://monaco-citizenship.info/monaco-property-form.html .
Upon receiving your confirmation of eligibility, the team in Monaco will reach out to answer any questions and discuss the next steps regarding starting an application for Monaco residency.
We look forward to hearing from you soon.
Kind regards,
Zenturo Ltd. | Malta Immigration by Investment
Residency & Citizenship for International Investors
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Zenturo Ltd.
394A / 395A, Triq il-Kbira San Guzepp
Santa Venera SVR 1016, Malta
Company Registration No.: C-39472
VAT ID: MT-18142026