The first thing that comes to mind when many think of Monaco is the fact that it is a spectacular destination with The famous Casino, Car Races and 007 style people.
And it’s all true! Yes in Monaco you obviously find nice and elegant people, sport events and night venues, you surely won’t find anything less than a great time. But, what if you are looking at Monaco as a more permanent living option? What is it like to live in Monaco as a resident versus visiting as a tourist?
Luckily, there’s much more than fun, nightlife, grand prix and restaurants in Monaco. If you’re looking to move to Monaco, it is important to consider the pros and cons of the things that can come with living there. Ask yourself what the city looks like in terms of the real estate market, weather, cost of living and much more.
So, are you considering moving to Monaco? Here’s a small moving to Monaco guide with the main pros and cons to weigh out before making your decision.
-There are no taxes in Monaco
One of the biggest perks of living in Monaco is that there are no income taxes and no property taxes. All residents (except US citizens and some french citizens). This means that those living in Monaco can save thousands of euros if they have incomes.
You will still have to pay some taxes if you run a company or if you buy products (Vat taxes).
-Overall Security
Primed for the wealthy, Monaco attracts those who have an eye for luxe and class. Naturally, one will think that the sovereign nation will be a den of thieves who trail the rich. But that is less not entirely true. The principality, in fact, is regarded as one of the safest places in the whole of Europe because it has the largest per area national armed force and the largest per capita. https://en.wikipedia.org/wiki/Monaco_Police_Department
-Central Europe and close to many countries
The principality of Monaco is a western European small state situated along the French Riviera and borders on about three sides by France, and another one by the Mediterranean Sea. The cultural influences of the principality are apparent and can be felt from the surrounding areas: Italy and France.
In 20 minutes you can cross France as well as Italy and treat yourself in a small Trattoria or in a local Supermarket with a large range of Italian quality products.
You can reach the International Airport of Nice in 5’ by helicopter or in 20’ by car. Regular and direct flights to many major cities like New York (6h), Dubai (6h), Paris(1h), Geneva (40m), London (2h) at very affordable prices. https://www.nice.aeroport.fr/
https://www.sncf-connect.com/fr-be/tgv/trajet/monaco/paris
-Major Events
The famous Monaco Grand Prix takes place every year in May. Famous for its atypical circuit crossing the streets of Monaco and some of the slowest hairpins and chicanes
The Automobile Club of Monaco organises also the legendary Rallye of Monte-Carlo https://acm.mc/
https://www.montecarlofestival.mc/
https://www.asmonaco.com/
During one week in April, The Rolex Monte-Carlo Masters, which celebrated its 100th anniversary in 2006, is the first of three ATP Masters 1000 tournaments played on clay. The tournament is a player and fan favourite due to its magnificent location, the Monte-Carlo Country Club, and long tradition of champions.
https://montecarlotennismasters.com/
-Entertainement
Just like any other lively city, the principality of Monaco has its fair share of entertainment. You’ll find yourself surrounded by many options to spend your evening, gambling at the Casino, discovering some new International Cuisine Restaurants, new clubs or new bars.
Monaco being the epitome of luxury will not let you down with what it has to offer. For instance, you can find yourself in the luxurious Jimmy’z or Twiga with a limitless selection of exclusive spirited drinks. In the famous Buddha Bar or legendary Sass Café for an eclectic night and an exotic cocktail experience. As for the jazz lovers, American Bar offers live music performed by various groups and exceptional artists each week.
These are merely our favourite options, however it’s no secret that Monaco is a place that evolves each year, thus, your entertainment options will expand as well.
-Weather
Monaco is situated on the remarkable Côte d’Azur, therefore it profits of a Mediterranean climate with not too many rainy days.
If you decide to move and stay in Monaco all year long, you will get the chance to experience all the seasons and the events each of them brings.
In Autumn the weather starts off warm but the cool autumnal air soon ushering in and lowering the temperatures to an average high of 16ºC by beginning of November. Luckily the sun is always around and the temperature feels warmer so you can still enjoy outdoor activities and open-air restaurants until sunset.
Winter in Monaco is considered quite mild with temperatures as high as 14ºC and minor cold spells. However, even though the temperature’s colder, the principality continues to organize events such as festive parties, sporting events and activities such as the fun fair and the winter market. During Christmas and New Year’s, you’ll get to experience Monaco in all its festive glory, as it decks itself in its most sparkling decoration, making its sights the perfect place to be to enhance your holiday spirit.
Monaco’s spring season has the most pleasant and mild weather. Temperatures are averaging 15ºC in March and climbing gradually to 20ºC in May. This is considered the beginning of the principality’s high season, with one of the biggest event taking place in May, the Monaco Grand Prix.
Lastly Summer is Monaco’s busiest season yet. Weather is warm and temperatures can go as high as 30ºC, although the built-in areas can get warmer due to the heat stored in buildings and pavement. While experiencing summer in Monaco you’ll discover that Larvotto’s pebble beach has something for everyone. From beach clubs and spacious restaurants to public spaces with showers and life guards during high season. It is no secret that Monaco receives great amounts of tourists and just like all year round, festivities, parties and events are not missing from the principality’s calendar.
Monaco is a great place to enjoy the long sunny days of summer thanks to its beaches, festivities and events but most importantly thanks to its Mediterranean climate, making it a pleasant place to be living in.
-School
Education being an important factor that residents tend to research before moving to Monaco, is another sector that the principality excels in.
Considering that Monaco is a destination for many Internationals, it offers options for all types of nationalities, helping students integrate no matter their educational background.
The Principality has 9 public schools: 6 kindergartens and elementary schools, a middle school, a general and technological education high school and a hotel education high school.
In addition to that, there are 2 private denominational establishments under contract with the State. One of them being the International School of Monaco which offers a bilingual English-French education from kindergarten to high school allowing students to earn an International Baccalaureate and a broad selection of higher education options. This is the reason why ISM is a very attractive option for International residents.
Moreover, as of 1986, Monaco offers the option of a higher education with the International University of Monaco, a business school that broadens the student’s connections and skills in both the luxury, business and finance sector.
In overall residents benefit of the choice to choose between these distinguished establishments, and integrate their children effortlessly into the Principality’s educational system regardless of their age, culture or background.
And if today it is too expensive for you to buy in Monaco, always remember that we Need Dreams, yes Dreams are important. Not the dreams you have when sleeping. I’m talking about the dreams you have for your future — the dreams that keep you going — the dreams that make each day worth living.