Tax Haven

Previously Monaco has best been known as Europe’s number one tax haven, and for the Monaco Grand Prix, held each May around the streets of Monte Carlo. Often referred to as the Playground of Europe any concerns over Monaco changing style are misplaced insist local travel guide Your Monaco. Monaco will continue to attract the wealthy due to her to income tax policy, and as well as the Monaco Grand Prix there is also the annual Yacht Show each September. Prince Albert knows that these events along with being a tax haven are the geese that lay the golden eggs and without them there wouldn’t be a lot of point in calculating the GDP to send to the United Nations as it would account for very little. By promoting and encouraging events like the Monaco Grand Prix it allows him to play a serious and active part on the world stage’. Real estate in Monaco ranks among the highest priced in the world, with one bedroom apartments ranging from nearly a million Euros to two million, and three bedroom apartments often over three million Euros. Buyers from the UK have increased significantly in the last couple of years, and demand from them has helped push property price inflation to nearly ten per cent a year. For the future it is expected that prices will continue to rise for the short and medium term, but with interest rates expected to raise in the UK it is not certain whether the supply of British buyers will continue at the same pace as recent years.

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