Monaco: Home to the Most Millionaires Per Capita in The World

Monte Carlo Casino Photo by Wigulf.

What Is So Special About Monaco?

Its home to the most millionaires per capita in the world! And there are no taxes on its residents! The Monte Carlo casino brings in so much money for Monaco that the tiny country does not have to tax its residents. It has become a “tax refuge” to many Europeans who make their living outside of Monaco.

Ever notice how every other James Bonds movie has a scene in the Monte Carlo, including Casino Royal, GoldenEye, and Never Say Never Again.

The weather in Monaco is amazing and the French cuisine exquisite. The beautiful ports, stunning views and luxurious hotels beckon many visitors who turn into full time residents. According to the Guradian, in 2008 about 2,000 millionaires lived in Monaco.

A Brief History

The Grimaldi family took Monaco by force one night in 1297 and have been ruling it ever since. Francois Grimaldi seized the fortress of Monaco from a rival Italian group. He disguised himself a monk and led a small army into the fortress reclaiming it in the name of the current Pope.

Prince Rainier III ascended the throne of Monaco in 1949 and caught the worlds attention when he married Grace Kelly. Today  Monaco is still a monarchy with H.SH. Prince Albert II as the head of state.

Port in Monaco. Photo by Loveless.

Interesting Facts About Monaco

  • Monaco’s citizens are forbidden to enter the gaming rooms of the casino. Security check documents at the door and enforce the rule strictly.
  • No private jets are allowed to fly into Monaco, no matter how wealthy you are. Visitors and citizens can drive in, fly in by helicopter, or travel by Yacht. There are no airports in Monaco. During the weekday there is only 20 minutes between helicopters landing in Monaco’s heliport.
  • Monaco is the second smallest country in the world.
  • Want to walk the whole country of Monaco? It only takes 56 minutes to walk the width of the country!