Moving To Monaco

 

Named as the most liveable zero-tax country in the world by The Nomad Capitalist (https://nomadcapitalist.com/global-citizen/second-passport/ultimate-guide-monaco-residency-citizenship/), the city state of Monaco can offer substantial financial advantages, particularly for high-net-worth individuals, entrepreneurs and athletes. 

 

The secret to Monaco’s success in attracting these wealth individuals is its super easy residency scheme. There is also no lengthy application process which in Australia can take as long as 6 – 10 years. All you need to do is deposit 500,000 Euros into a bank account in Monaco and present a bank reference letter together with a residency application form, birth certificate, proof of sufficient financial resources, proof of a rented or owned property and a police clearance certificate. The waiting period is between four to six months. 

 

What do you get in return? 

 

No Personal Income Tax. 

No Capital Gains Tax. 

No Inheritance Tax. 

 

Monaco’s proximity to most major European cities within a two hour flight away, high net worth Europeans can take advantage of Monaco’s low taxes while avoiding high taxes back home. With Nice’s Cote d’Azur airport barely 30km away from the heliport located on the southern edge of Monaco, near the sea, in the Fontvielle district,7 minute helicopter transfers offering stunning views of the French Riviera are a popular option. 

 

With a meticulous secretary in charge of efficient travel planning and scheduling, most of these individuals would be able to satisfy the required stay of 3 months of the year. (compare that to Australia where you need to spend two out of five years if you are an Australian Permanent Resident).

 

Just like Monaco, there are other places around the world that offer similar advantages to people who want to live a life different from their fellow citizens. Not all of them are as centrally located as Monaco but still offer all the other perks. The list is extensive :-

 

Europe

 

Andorra

Liechtenstein

Malta

 

Caribbean

 

The Bahamas

Cayman Islands

Bermuda

Saint Kitts and Nevis

 

Middle East

 

United Arab Emirates

Qatar

 

Asia and Oceania

 

Vanuatu

 

#MonacoResidency #TaxFreeLiving #GlobalCitizenship #LuxuryLifestyle #FinancialFreedom#NomadLife#ResidencyPlanning #GlobalCitzen

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