Monaco has long been reputed to be the most expensive country in the world. Real estate prices have increased by 40% here over the past 10 years. Apartments are sold on average for 5,000 euros per sq. ft. A studio in the principality can easily cost 2 million euros.The population of the microstate: just over 38,000 people, two thirds of whom are millionaires.
The most populous country on the planet is comparable in size to London's Hyde Park. Since 2018, Monaco has been implementing a project for the ecological increment of the Mediterranean Sea lands, which will increase the territory by 3%. The new Mareterra district, for the construction of which 2 billion euros of investments were attracted, is almost ready. A marina, a saltwater pool, and parks will open here. The apartment buildings with 130 apartments were designed by Renzo Piano.
Why does Monaco attract people with capital?
Taxation. The principality does not charge income tax on residents. Holders of a residence permit are exempt from taxes on all global income, but at the same time you need to be a real estate owner and spend more than 186 days a year in the country.
Security. Monaco has the largest number of police officers per capita and more than a thousand surveillance cameras.
Banking secrecy. Monaco is one of the few countries where banking secrecy is maintained.
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Source: The Telegraph