Monaco is one of the most charming countries in the world, providing a paradisiacal haven for those looking to escape the world’s hustle and bustle. While it may be just 2.2 km2 in size, the Principality of Monaco offers a unique combination of urban sophistication and small-town charm. Provincial markets, cobbled streets, and quaint cafes sit side by side with designer boutiques, chic restaurants, and vibrant nightlife, making for a truly sublime lifestyle.
While it is well-known that Monaco is synonymous with glitz and glamour, there are a plethora of benefits of living in Monaco that extend beyond extravagant casinos and luxurious hotels. Find out more about why moving to Monaco has become so desirable in our article on the 15 unique benefits of residing in Monaco.
What are the 15 benefits of living in Monaco?
1. Excellent family life
Monaco isn’t just a paradise for those in corporate business, singles, or young couples, but it is a superb destination for anyone of almost any age. The education system is just one of the benefits of living in Monaco, with many opportunities for children to get involved, including hiking, biking, swimming, and football.
There are also several museums, parks, and galleries, as well as historical landmarks to be enjoyed by the whole family.
2. Prime properties and interior design
When it comes to luxury properties, Monaco is no exception. Monaco real estate is carefully designed and constructed to meet the highest standards and the most exacting requirements.
Monaco’s luxury properties are designed to provide the utmost comfort, from luxurious furniture to exquisite materials used throughout. Rich colors, delicate fabrics, and luxurious textures are all used to create an elegant environment.
Large open spaces, generous balconies, and terraces allow residents to enjoy the stunning views and make the most of the outdoors. The kitchen and bathrooms are also designed with a refined style. High-end appliances, modern fixtures, and sumptuous materials are all included to ensure the highest comfort level.
Monaco’s properties also feature cutting-edge technology and modern amenities. From advanced security systems to swimming pools, spas, and fitness suites, Monaco’s luxury properties are one of the top advantages of living in Monaco.
3. Superior safety
As one of the wealthiest countries in the world, Monaco boasts one of the world’s best security systems – an enticing incentive for anyone looking to move to Monaco. The entire country is covered by a 24-hour CCTV system, meaning that no criminal activity can go undetected. In addition, the city-state has one of the world’s best police forces, with one police officer for every one hundred citizens.
4. Protection for citizens
Obtaining Monaco citizenship ensures a lifetime of protection thanks to Prince Albert’s protection policies. While the principality is synonymous with its opulent casinos, the government has banned its citizens from gambling to protect them and their finances. In addition, due to the rising cost of house prices, the Prince subsidizes his citizens by up to 75%, allowing them to remain in the country without incurring financial worries.
Citizens are also given priority for jobs and are paid more than they would be if they were from abroad, contributing to Monaco’s 0% poverty rate.
5. Desirable tax regime
If you reside in the country for at least six months each year, individuals can be granted residency, meaning you can benefit from zero income, capital gains, property, corporate income, and dividend tax. While there are just two exceptions to this rule – it is one of the greatest benefits of living in Monaco for business owners, entrepreneurs, and wealthy individuals.
6. Unrivaled education
Monaco residents worldwide can place their children in a wide variety of schools that are either a part of or associated with the Ministry of Education. The principality is home to a world-famous international school and university and some of the best public schools for kids of all ages. The international schools follow the baccalaureate syllabus in English, whereas most public school lessons are taught in French. Education is one of the most significant benefits for Monegasque families and one of the biggest draws for families moving to Monaco from abroad.
7. Enviable location
Monaco sits on a narrow ribbon of the Mediterranean coast and is bordered on three sides by France. Its vertical landscape divides it from the French Alpes-Maritimes foothills behind it and the stunning stretches of French Riviera coastline on either side of its own.
On one side of Monaco, Nice, Cannes, and Saint Tropez are nearby French hotspots. On the other, charming Italian towns such as Bordighera, Sanremo, and Portofino sit just beyond the border.
Hiking opportunities are plentiful in the hinterlands, and in winter, residents head to the slopes of the many ski resorts within easy driving distance.
8. World-class healthcare
Both public and private sector Monégasque healthcare is of an extremely high standard, ranking as one of the best in the world. With about 581 doctors per 100,000 people, Monaco has one of the highest concentrations of doctors in the world, making it a popular incentive for those looking to move to Monaco.
If registered with the national system (the Caisses Sociales de Monaco), you can expect superior quality healthcare from the country’s main hospital, Princess Grace, which also offers private treatment, but many residents opt for private health insurance.
9. Delectable gastronomy
Synonymous with illustrious glamour and the finer things in life, it is perhaps no surprise that despite its small size Monaco boasts six Michelin-starred restaurants, including Le Louis XV — Alain Ducasse, Le Grill, Blue Bay, Yoshi, and La Table d’Antonio Salvatore. From innovative tasting menus to breathtaking interiors, the city-state’s award-winning restaurants are one of Monaco’s many advantages and are guaranteed to tantalize the tastebuds of the most discerning gourmands.
10. Premium sporting events
Monaco is a country that comes alive throughout the year thanks to its roster of sporting events. The famed Formula One Grand Prix is the principality’s most famous sporting event, along with the annual Monaco Yacht Show. However, the city-state also hosts a premium sporting event – the Longines Global Champions Tour – the Rolex Monte Carlo Tennis Open, and the Herculis International Athletics Meeting, among many others.
11. A multicultural community
One of the many reasons individuals move to Monaco is to make the most of the principality’s vibrant multicultural community. More than one-fourth of Monaco’s population is composed of French citizens, and a smaller but significant number are Italian, Swiss, and Belgian. Only around one-fifth of the population is of Monegasque descent.
Monaco’s varied demographic promotes the integration of different cultures and sharing of new ideas and perspectives, leading to innovations for businesses and more prosperous relationships.
12. Extravagant cultural scene
If sport is not your thing, lovers of art, music, and film can enjoy Monaco’s calendar of extraordinary cultural events. The Salle des Etoiles and Opera Garnier host some of the biggest names in rock, jazz, French variety, and pop throughout the year. The Monte Carlo Jazz Festival, held every autumn, is another notable event.
An impressive array of concerts, shows, congresses, and exhibitions are organized at the Grimaldi Forum, while the Princess Grace Theatre offers a performing arts program and hosts a cinema. From June to September, film enthusiasts head to Monaco’s open-air cinema, in its enchanting setting sat above the sea.
13. Excellent hub for entrepreneurs
Monaco has become an attractive destination for budding businesspeople. Its low taxes, excellent infrastructure, and high quality of life provide a unique and appealing environment for startups.
Throughout the year, Monaco hosts several conferences and events for aspiring businesses, perfect for those looking to hear from inspiring industry leaders, gain valuable insights from panels, and attend workshops and seminars to develop their ideas further. Monaco also boasts a growing network of startup incubators designed to help turn emerging business ideas into successful ventures. The principality’s shared working spaces have become increasingly popular for those residing in Monaco, offering flexible, collaborative, cost-effective office solutions.
14. Lavish yachting lifestyle
Monaco is one of the world’s premier yachting destinations and a playground for the wealthy and famous.
Monaco’s Port Hercule is one of the many benefits of living in Monaco. Located in the heart of the Principality, it provides a secure haven for boats of all styles and sizes. From here, yacht owners can explore the nearby waters of the French and Italian Riviera or venture further afield to the islands of Corsica and Sardinia.
Yacht owners in Monaco can also take advantage of the onshore concierge services available. From airport transfers to organizing events to private jet charters, the concierge services are tailored to the needs of the yacht owner. They can make the Monaco yachting lifestyle even more convenient and pleasurable.
15. A-lister neighbors
Monaco has long been an attractive destination for some of the most well-known names in the world, from sporting legends to Hollywood stars. Shopping, wining, and dining is second to none, and it’s easy to rub shoulders with the rich and famous no matter where you go. Those residing in Monaco could also get invited to exclusive parties and events, allowing you to network with some of the most notable people worldwide.
If you’re lucky, you might even be invited to a celebrity dinner to get up close and personal with some of Monaco’s most famous faces.
If you are considering moving to Monaco to feel a part of a unique lifestyle on one of the most exclusive coastlines in the world, contact a local real estate agent with extensive knowledge of the city-state.
After completing a Bachelor’s degree in Psychology at the University of Manchester, Ella
Neale moved to London to complete her Master’s degree in Luxury Brand Marketing at the
British School of Fashion. Now a Digital Content Manager based in London, Ella has written
multiple blogs and feature articles, as well as press releases and large-scale website re-
writes. Her work has appeared on many websites and has been featured in publications,
Forbes and The Drum. Ella’s areas of expertise include luxury real estate, yachts, and luxury
travel destinations.
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.
In this article
