Monaco Tax Haven
Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a
casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco
world famous as a tax haven, tourist and recreation center.
Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and
pleasant climate. In 2001, a major construction project extended the pier used by cruise ships in the main harbor.
The principality has successfully sought to diversify into services and small, high-value-added, nonpolluting
industries. The state has no income tax and low business taxes and thrives as a tax haven both for
individuals who have established residence and for foreign companies that have set up businesses and offices. The
state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service.
Living standards are high, roughly comparable to those in prosperous French metropolitan areas. Monaco does not
publish national income figures; the estimates below are extremely rough.
Below are some quick facts about Monaco as Tax Haven
Monaco, A Personal Tax Haven
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