A Favourable taxation environment for individuals
Prince Charles III of Monaco abolished all personal income tax in 1869 and since then Monaco has become a secure and tax friendly environment.
The only direct taxation in the principality is Corporation Tax for companies, and only for those companies that do more that 25% of their business internationally. There is no wealth tax, property tax or council tax and there is also no tax on investment or work income generated outside of Monaco.
Importantly, Monaco also remains one of the few places on earth where its Resident population are not required to file tax returns or declarations.
As such Monaco enjoys a diverse and vibrant population that spans from businessmen to sports personalities.
In order to enjoy the high standard of living and favourable taxation that Monaco has to offer, finding a property might be the first step.