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STANDARD OF LIVING IN MONACO

Monaco is a small Principality in the South of France, which, despite its dwarfed size, which is only 2 kilometers square, and having no physical borders, still has all the pronounced features of a state. This country has a constitutional monarchy, with Prince albert II at its head, but there is also a Parliament. Housing in Monaco is very expensive, even not all the rich can afford it.



General about life in Monaco

The Principality of Monaco is one of the smallest and at the same time the wealthiest States in the world. 37 thousand people live in the country or at least have a residence permit, of which just over 5 thousand have a Monaco passport. The indigenous inhabitants are called Monegasques, they make up about 15% of the total population, ethnically they are Italians and French. This country can be called the country of the rich without exaggeration, since to live in Monaco, you need to have a Bank account with at least 100 thousand euros in the account. In this mini-state, there is no taxation on luxury, citizens do not pay taxes to the state. This makes this country more popular for immigrants with money.

The cost of living in Monaco is very high. Most of the country's income comes from the production of automobiles. There are also annual automobile competitions on special platforms that are installed directly on the water. Getting citizenship in this small Principality is almost impossible due to the high cost, and it is also difficult to find a job. It can only be obtained by highly qualified specialists in various fields. Nevertheless, the average salary in the country is about 5 thousand euros. This dwarf state even has cities that, due to the size of the country, can be called districts, you can get from one to the other in just a few minutes. Also Monaco is divided into 3 communes: Commune of Monaco; and the Monte Carlo (the capital); the town of La Condamine; reclaimed coastal areas, their 2. Medicine in Monaco at the highest level, but the services are very expensive, free may be providing only first aid. In the past, agriculture was developed in Monaco, but now it does not exist at all due to the complete lack of free territory from buildings.


Oddly enough, Monaco even has its own army, which consists of just over 80 soldiers at court and another 500 police officers.

Real estate and product prices

Monaco is undoubtedly the most expensive country not only in Europe, but also in the world. Real estate prices here are simply staggering, the cheapest square meter here can cost from 20 thousand euros, and closer to the elite areas they are quite prices reach 50 and even 70 thousand. Despite the fact that according to sanitary standards, an apartment in Monaco should be at least 125 square meters. Renting an apartment in Monaco is the choice of the majority. Depending on the area and proximity to the main area of Monte Carlo, the monthly rental price varies from 3 to 5 thousand euros. For a comfortable life, you need at least 500 thousand euros a year, so the concept of poverty in this Principality is understood quite differently. Real estate prices in Monaco are very high, as new properties are almost not built here, due to the lack of space for this. In the future, the authorities of Monaco plan to build an artificial island, but it will also be built on exclusive and very expensive objects.


The country has managed to maintain its own policy, and, given the almost complete absence of taxes, the prices of products here are noticeably lower than in the same France. There are several supermarkets in Monaco, one large and 3-4 smaller ones. The mild Mediterranean climate, proximity to the sea and the prestige of living in this country make wealthy people want to buy real estate here. But it is very expensive here, even in the most remote parts of Monaco. The most expensive housing in Monaco is located in the area of Monte Carlo or close to the sea.

The most budget options, if they can be called so, are apartments from among those that are not on the coast itself. Much more expensive property located close to the beach or to the residence of the reigning Prince. Many of them are located in historical buildings that have an appropriate interior that is typical of the past centuries.


Houses and villas can cost from 3 to 7 million euros, depending on the square footage. Such an expensive property is located in the so-called Golden square. It is very difficult and expensive to buy property in this country. Even the property that can be purchased in popular parts of France, such as the famous Cote d'azur, in the price ratio with Monaco may even seem cheap. All this leads to the popularization of the rental business in Monaco. Most businessmen, stars and great artists and cultural figures who have a residence permit in the Principality prefer to rent housing. Even many of them can't afford the prices in Monaco. In addition, offers for renting out property are very limited offers. Most often, the premises are rented out in the summer season.

Average salary and taxes in Monaco

Skilled workers in Monaco usually have a salary of around 7 thousand euros. they are recruited mainly from French citizens. During the day, they come to work in the Principality, and in the evening they return to their country, since it is not easy to rent a house or obtain Monaco citizenship, even for the nearest neighbors, and you can go to work in Monaco without problems, even on foot.


Transport Of Monaco

With transport in Monaco, everything is unusual, given the size of the country in 2 kilometers, which most people overcome on foot or by Bicycle. Since the area is mountainous, bicycles with motors are popular. Here there is a single taxi company with 10 cars, you should call in advance, it is better to take 2 days, it is often necessary to move to localities in France. In Monaco itself, the local population still uses public transport or carsharing, but it is limited to the territory of the Principality and you can not travel outside.

Education

Education in Monaco corresponds to the European level, and all citizens of this Principality have the right to use the exchange program for students operating throughout the Schengen area.


Monaco has one higher education institution-an international University, as well as educational institutions: 7 kindergartens; primary schools and secondary schools named after Charles the Third; Lyceum named after albert the First; tourist Lyceum; 2 private schools; international school of Monaco.

Business

It is very expensive to start a business in Monaco, but under good circumstances it is very profitable due to the absence of taxes. First of all, you need to have your own property or at least rent an office. You will also need to get permission from the authorities, and it will be important to prove that the business will have a positive impact on the economy of the Principality.

Owners of large sums can purchase a ready-made business with all the necessary licenses and documents, but such options start at prices of 300 thousand euros.

It is also very expensive to open your own commercial outlets, the cost of the cheapest premises starts from 30 thousand for foreigners. And Monegasques can rent the same for just a few hundred euros, while they do not have the right to use the same premises for more than a few years.



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