Antibes centre - Studios - 3 bedroom apartments
EUR 197,000
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St Raphaël, Baie d'Agay - 200 metres from beach
EUR 300,000
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Monaco-Millefiori. Bright one bed on upper floor with sea views - MC1206
EUR 1,890,000
More info...
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A fashionable nation
The tiny state of Monaco, located on luxurious land along the French Riviera, covers just 1.95 square kilometres making it smaller than Hyde Park. Local Monegasques, who amount to approximately 20% of the population, pay no income tax, something that has lured the world’s rich and famous to its streets and kept support for its ever-photogenic Royal Family, who still exercise their rule. With such immense wealth exposed in its fashionable boutiques and lush parks, it’s not surprising that this is one of the safest parts of the globe thanks to a heavy police presence. Street crime has been virtually consigned to the history books.
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Tax advantages for some
A word about the tax advantages that have drawn many to Monaco. Income tax is not paid by those foreign nationals living and working in Monaco, as long as they have also become residents of Monaco. This tax exemption also applies to many who have become Monaco residents, yet receive a salary from outside of Monaco (except from a few countries including France, see below). Both would also be exempt from paying capital gains tax, which is another advantage of being a Monegasque. For those Monaco residents however, working in or receiving a salary from France, they would have to pay income tax in France, as anyone would if they lived in France but worked in Monaco.
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Keeping it in the family
The ruling Grimaldi family have led the Principality of Monaco for the last 700 years. Prince Albert is the current head of state, having taken over the role from his father, Prince Rainier III. Many viewed Prince Rainier as a celebrity, the notion further helped by his marriage to Hollywood star Grace Kelly. This image is what keeps the Monegasques from demanding a duller system called representative democracy. And changes to French treaty signed in 1918, which only permitted male heads of state, now allows a female to take on this role.
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A developing business and commercial centre
Monaco is fast becoming a business and commercial centre, particularly in certain fields such as banking, asset management, ship management, luxury goods, financial services and the pharmaceutical industries. Many entrepreneurs choose to run their businesses out of Monaco these days too, benefiting from great transport links eg: seven minutes to Nice International Airport by helicopter.
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Monaco Grand Prix
Of course the streets of Monaco are also where the Monaco Grand Prix is held. This famous sporting event which was first held in 1929, is not only the highlight of the year in this principality, but it is also widely considered to be one of most prestigious races in the world. It attracts not only Formula I fans, but also the rich and famous in their droves, who arrive in their yachts and helicopters add even more glamour to the town.
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Monaco by night
The real Monaco comes out at night when its trendy casinos, bars and nightclubs fill up with various characters who could quite easily be auditioning for the latest Bond movie. However, local resident, Roger Moore, won’t be doing that again anytime soon.
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Monaco's open air cinema
There are two major nightclubs, Jimmy’z and the Karrement, but there are lots of bars including a great live music bar called Moods in the Place du Casino and Stars n Bars in Port de Fontvieille. Also worth a mention is Monaco's wonderful open air cinema, where in the summer months, you can recline on sun-beds and watch a movie under the starlight whilst sipping your champagne!!
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Monte Carlo Casino, opera and theatre
One of the main attractions at night is the Monte Carlo Casino. This grand building from the late 18th Century may seem quite extortionate to some but it still manages to draw in flocks of people every evening creating an exciting atmosphere. If opera and theatre are more your thing then January is the best time to be around as performance after performance hits the town.
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The Grimaldi Forum
The Grimaldi Forum is another place to visit. This is a modern conference and exhibition centre located along the Larvotto seafront, next to Monaco's Japanese Garden (also worth a look). Numerous exhibitions and events are held here throughout the year, all of which make interesting viewing.
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Where to relax
If you need a break from Monaco's fast paced lifestyle, make a trip to the delightful Jardin Exotique. There are around 7000 different species of exotic flower to be found in this lush garden paradise. From the steep slopes you can get a fabulous view out across Monaco and Monte Carlo, which is almost worth the admission fee alone. The entry price also includes a visit to a fascinating Prehistoric Anthropology Museum and a vast network of underground caves.
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For rainy days
Monaco enjoys 300 sunny days a year, which is more than enough time to work on that tan. For the other 65 days, however, there’s plenty to keep you occupied. The best place to start would be the Musee Oceanographique, one of the best aquariums in the world and certainly the largest in Europe. There are 90 tanks in total, displaying a wide range of ocean life from the most majestic to the most fearsome.
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How to get there
You’ll have no problem making your way to the Principality of Monaco. There are flights running to neighbouring Nice from a wide range of UK airports. Nice is served by bmibaby, British Airways, easyJet, bmi, Jet2, flybe, Air France and Aer Lingus. Alternatively, for those who’d rather travel closer to the ground, Rail Europe runs services to the same city from London Waterloo.
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What about the property prices and availability?
It shouldn’t come as a surprise that property prices are incredibly expensive. Most properties on offer are apartments. Part of the high price is due to the 0% income tax, which many will certainly benefit from if living here.
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your comments...
1. Additional information supplied by Claire Healy from Attika International (added 18/11/08)...
Additional information on tax benefits, business and general information about Monaco was very kindly supplied by Claire Healy. Many thanks to her for helping us keep our site up-to-date and helping us to improve our property guide!
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HOTELS IN MONACO
* online booking & great prices
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AGENTS WITH PROPERTY IN THIS AREA |
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3/5