Monaco Facts – The Five Facts You should Know About

What’s the first thing that comes to your mind at that instance the name Monaco is mentioned? Some will immediately think of some rich and obscure European country. To others, it is one of Europe’s top entertainment destination. Meanwhile, racing enthusiasts and sports fanatics will no doubt associate the word to Formula One, owing to the fact that the country hosts the Monaco Grand Prix, one of the most important racing events in the world.

These are all but hints of what the country is about. Knowing these alone creates no more than stereotypes instead of the actual picture of this splendid city state. Below are some facts to help you brush off your own stereotypical depiction and see the country for what it truly is.

  1. Where is Monaco?
  2. For those who have a hard time finding Monaco in the map, the city state is actually located somewhere south of France and is very close to Italy, divided only by a 16 km French corridor. The region the country is in is called the French Riviera or Cote d’Azur, which includes the Mediterranean coasts of France’s south-eastern corner.

  3. Monaco is the second smallest country in the world.
  4. Monaco’s land area is approximately 2.05 km2, which is less than a square mile. This makes the city state around the same size as New York’s Central Park, a few times larger than the Vatican City, and a lot smaller than every other country. This rather small and limited land area is shared by 35,986 residents, awarding the Principality the title of being most densely populated country, apart from being the second smallest.

  5. Monaco is ruled by the House of Grimaldi and is only independent in 1861.
  6. Traditionally, the Principality of Monaco was ruled by princes of the Grimaldi lineage. The dynasty was established by Francois Grimaldi in 1297 after his cunning takeover of the fortress on the Rock of Monaco, continuing to the present with only a few brief interruptions. Despite this, the Principality was ruled in succession by Genoa, France and Sardinia, and only became truly independent in 1861.

  7. Traditionally, Monacans are neither French nor Italian.
  8. The citizens of Monaco are known as Monegasques. The native ones are descendants of settlers from Rhaetia, a region that once existed in Central Europe. Ironically, actual Monegasques comprise only a little over 20% of Monaco’s total number of residents. The rest are foreigners from France, Italy, UK and other countries.

  9. Best of all, Monaco has no income tax.
  10. The Monacan government does not gather income tax from its citizens. This made Monaco a popular tax haven for the wealthy, who will be obliged to pay at least five-digit figures as state contribution elsewhere. Despite the lack of taxes, Monaco offers top-notch standards of living to all its residents. This is exemplified by its large yet effective police force, as well as some amenities that come for free.

These are all but a short summary of Monaco as a whole. Still, the best way to see the big picture of the Principality is to wander into it, then enjoy a nice, one-of-a-kind visit.

Why Live in a Monte Carlo Real Estate?

Monaco is arguably the haunt of Europe’s elite. In this French-dominated Monegasque state, they enjoy luxurious standards of living unknown to other countries, and get the sort of accommodation and R&R many failed to offer. That’s not to mention the fact that while they are Monaco’s official residents, they are safe from taxes and, thanks to an efficient police force, all sorts of crime.

Now Monaco is divided into four primary municipalities: Monaco-ville, Monte Carlo, La Condamine and Fontvieille. Of these divisions, Monte Carlo is probably the best known, having become synonymous to the principality itself.

What Makes Monte Carlo Popular?

Monte Carlo’s popularity is easily understandable, considering the attractions and events that draws crowds to the municipality. Here’s a sampling.

  • For one, Monte Carlo usually hosts the Circuit de Monaco, the Formula One racetrack wherein the famous Formula One Monaco Grand Prix regularly takes place. The municipality also caters a variety of sports and other entertainment.
  • Everyone loves amusement and Monte Carlo has plenty of it. The quarter’s entertainment complex includes the Les Ballet de Monte Carlo’s office and the Grand Théâtre de Monte Carlo, a major Monaco opera house.
  • Finally, there’s the magnificent Hotel de Paris that was in place since the late 19th century. You won’t miss its imposing, heavily decorated facade.

Own a Monte Carlo Residence

Knowing all this, you might just want to find a place to stay for good in the municipality of Monte Carlo. Don’t just settle for home rentals if you want to enjoy your life in this municipality. Go for the bigger fish, and with that, we mean purchasing a full-fledged real estate property.

However, given the common knowledge that buying a residence, not just in Monte Carlo but the entire Principality of Monaco can be quite expensive, you’ll probably think that the process will also be a difficult one. Well good news: owning a Monte Carlo real estate property is not.

A Quick Overview of Monte Carlo Real Properties

Monaco has a very healthy real estate industry, and this is pretty much reflected upon Monte Carlo. Given the rather small space the city occupies, most residences are of the apartment type. Residences at the first floor of Monte Carlo’s high rises and those in nonstrategic locations are typically the cheapest. Meanwhile, flats with nearby amenities or those that offer great views of the city may cost millions of Euros. Closing costs make these Monte Carlo real estate properties a lot more expensive, thanks to the legal fees attached.

Be a Resident of Monte Carlo and Monaco as a Whole

Note that once you’ve obtained the deed, make sure you stay for at least six months. After your half year stay, you may then obtain your residence status and enjoy a tax free existence within the principality’s borders.

Chill, be entertained, try to break the bank, or simply live in tax-free leisure. Monte Carlo truly does offer a lot of possibilities for those who can afford to stay.

Hotel de Paris: A Grandiose Monte Carlo Hotel

The Principality of Monaco is one very interesting and attractive place. For a long time, it was and still is one of Europe’s prime entertainment hotspots, a haunt of racing fanatics and those who get their dose of enjoyment from other activities. Recently, Monaco has enjoyed a thriving real estate market, thanks to the many visitors that opted to stay in the city state.

Monte Carlo is the most visited quarter in Monaco. No one familiar with the place will find it any surprising, considering the fact that this tourist resort contains most of Monaco’s attractions. In fact, it is where you’ll find entertainment and leisure in Monaco. Only in Monte Carlo can one see prestigious automobile racing competitions like the Monte Carlo Rally and the Formula One Grand Prix.

The Hotel de Paris

One of the quarter’s major landmarks and attraction is the Hotel de Paris. This Monte Carlo hotel serves as a testimony of Monaco’s wealth, culture, and love of fine aesthetics. Not many other hotels elsewhere gives you a five star at first glance. Indeed, it is a true luxury hotel, and is very deserving of its never-fading spot in the Conde Nast Traveller Gold List.

The hotel was built by the Societe des Bains de Mer (SBM) as part of its effort to develop Monaco. Opened in 1863, the hotel was intended to offer the best and most luxurious accommodation of the time which it certainly did. As of now, the hotel is still owned by the SBM, alongside Hotel Hermitage Monte-Carlo, Monte-Carlo Beach Hotel and Monte Carlo Bay Hotel & Resort.

The Monaco Hotel’s Outward Appearance

Looking at the Hotel de Paris’ facade, you can see just what grand accommodation those who booked into the hotel can expect. The front is just so meticulously detailed, adorned with intricate low-relief sculptures and blessed with over a century old beauty that outshines almost every modern edifice. This classic building truly enhances the beauty and charm of Monte Carlo, and that of Monaco as a whole.

Inside the Hotel

Hotel de Paris has 187 rooms. These rooms are divided into the following categories according to the view and luxury they offer, as well as the decor.

  • Exclusive Rooms – Sea View, as the name suggests, offer an excellent view of the Mediterranean, which includes Monaco’s beautiful marinas.
  • Superior Rooms – Courtyard View gives guests large, luxurious accommodations from which the Monte Carlo hotel’s courtyard can be seen.
  • Exclusive Rooms – City View are suites from which guests can view the magnificent Monegasque cityscape.
  • Exclusive Superior Rooms – Sea View are simply larger versions of the Sea View rooms.

Fine Dining in Hotel de Paris

The Hotel de Paris prides itself as a temple of gastronomy. Internationally renowned restaurants like the Le Louis XV – Alain Ducasse are housed inside the 19th century building. The Monte Carlo hotel also has a wine cellar that offers a huge variety of liquor which makes dinner in the hotel a lot more sumptuous.

If you have the money and would like to tour the world, we suggest that you drop by Monaco. Once there, you should stay in Hotel de Paris and have a once-in-a-lifetime stay.

Monte Carlo Real Estate: The Advantages of Living in One

Monaco is widely known as a cozy tourist spot that offers plenty of entertaining activities. Among all of Monaco’s administrative divisions, Monte Carlo is the one that gets the most fame as a tourist destination.

Apart from being Europe’s amusement mecca, Monte Carlo is known to host the famous and notoriously difficult Monaco Grand Prix. It also offers other albeit less-known recreational activities, like seeing theater performances, leisure walks and chilling in one of Monte Carlo’s bars and clubs. Knowing this, you won’t really be surprised to find individuals wishing to live somewhere in that section of the Monegasque city state.

Monte Carlo Life Does not Come Cheap

However, a trip to Monte Carlo – or, in fact, anywhere else in the Principality of Monaco – can be quite expensive. Imagine how much more you can spend once you start living in it! Rents cost several thousand dollars per month, and actually owning an apartment can cost a lot more. Given all the surrounding conveniences and nearby attractions, you’ll be sure that Monte Carlo real estate property value is rather high, and so are the prices.

The Benefits of Living in Monte Carlo

Whenever you spend a lot on something, you expect that product or service to provide you something that’s worth its cost. You can easily say it’s a waste of time and money if it doesn’t. In this case however, living in Monte Carlo delivers. How does it do so? The next two sections will neatly sum it all up.

Live in a Monte Carlo Real Property and Live Tax Free

As mentioned, living in Monte Carlo is never inexpensive. However, you are basically pouring money on your needs and wants but are not required by the government to spend any further on various public services. In other words, you don’t have to pay tax when living in Monte Carlo, or the entire Monaco for that matter. The Principality is an official tax haven, and as such, it attracts so many affluent individuals who want to keep their large and highly taxed income intact.

Nonetheless, you’ll need to have a resident status to enjoy Monaco’s main attraction. To obtain it, you’ll need to have your own residence and stay there for at least six months, after which you’ll have to present the necessary papers to the residency officials who’ll then take care of the rest.

High Levels of Security in Monte Carlo and Anywhere Else in Monaco

Monaco may not have an army, navy or an air force but it has a largely present police force that’s bigger – with regards to the number of policemen for the entire populace – than those of its neighbors. This ensures that everyone is safe from crime not only in the income-generating district of Monte Carlo but also in the rest of the city state. Monaco’s cops are effective at their work, and even incorporate units with certain useful specialties.

So is living in Monte Carlo worth what you pay for? Given the lack of tax – which sometimes come in at least five-digit figures elsewhere – an environment that provides a lot of leisurely activities, and the feeling of safety and comfort, you can bet your stay is worth the top dollar.