Hello!
Continuing from the other Monaco thread. Is there a way around needing to deposit 500K EUR to a bank account?
Continuing from the other Monaco thread. Is there a way around needing to deposit 500K EUR to a bank account?
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Monaco resdient without 500k EUR
- Thread starter Tdcarl75
- Start date
There are other ways but they are very specific. On the other hand, if your country does not have a DTT with Monaco, this residence is no better than, for example, Georgia, UAE or Cyprus, just don't reside there more than 180 days and you'll also have 0 tax
Exactly. It is not better than Monaco. Go to Georgia, Cyprus and Dubai so the rents in Monaco don't go up.
Unless you're a multi millionaire, think of Monaco as nothing more than a place to go visit while you're on the French riviera.
The article you refer to says "For instance, you will need a solid €1 million deposit in a local bank. A letter confirming it is mandatory in your residency application process.", not 500k.
Hopefully not off topic, but what is the appeal of Monaco? I mean beside zero taxes. I visited it several times and find it a bit boring, unfriendly to pedestrians and the property choice there is a nightmare. I can pull living there financially, but can't imagine that I want to be there for 183+ days.
Or everyone just rents there the cheapest studio and spends time in France?
Or everyone just rents there the cheapest studio and spends time in France?
Too many appealing options to list here, but here are a few...
- Not facing tax inquiries and criminal charges or worse....investigations (taxable events)
- Truly free (of course, don't start a feud with the Prince) meaning you can send the banks to go f*ck themselves when they ask for your tax returns.
- Banking in Monaco is a piece of cake once you are a resident there. You do pay a little more for this, but it's not even a fraction of what a defense attorney will cost you (<0.01%).
- Surrounded by other well-to-do/wealthy people who are NOT buying ANY propaganda regardless of who is "gifting" it. The most fun I ever had watching the news was in Monaco. The residents, being from so many countries, interpret their country's propaganda and give the rest us of a good laugh. It's liberating.
- Walk at night without ANY fear of getting robbed, mugged, raped, or murdered. Cameras everywhere! Undercover cops everywhere. Having the security of some Asian countries while still being around my own people in Europe able to visit families in a few hours e.g.
- VAT is still 20% though, so it isn't really "tax-free" but you keep a lot more of what you earn. A lot more. Ridiculously more. I used to live on Fisher Island in Miami Beach and I spent there +5 times what I spent in Monaco. Blew my mind!
- Too many other things I would rather NOT list, so it won't end up like Dubai with every Tom, Dick, and Harry making IG and TikTok videos of their scams
Bespoke triplex penthouse overlooking the Mediterranean sea - Viviani Champfleury Barco
a0E6g00000626r9EAA
vcb.mc
Let me add one more to your list; Opportunities.Too many appealing options to list here, but here are a few...
- Not facing tax inquiries and criminal charges or worse....investigations (taxable events)
- Truly free (of course, don't start a feud with the Prince) meaning you can send the banks to go f*ck themselves when they ask for your tax returns.
- Banking in Monaco is a piece of cake once you are a resident there. You do pay a little more for this, but it's not even a fraction of what a defense attorney will cost you (<0.01%).
- Surrounded by other well-to-do/wealthy people who are NOT buying ANY propaganda regardless of who is "gifting" it. The most fun I ever had watching the news was in Monaco. The residents, being from so many countries, interpret their country's propaganda and give the rest us of a good laugh. It's liberating.
- Walk at night without ANY fear of getting robbed, mugged, raped, or murdered. Cameras everywhere! Undercover cops everywhere. Having the security of some Asian countries while still being around my own people in Europe able to visit families in a few hours e.g.
- VAT is still 20% though, so it isn't really "tax-free" but you keep a lot more of what you earn. A lot more. Ridiculously more. I used to live on Fisher Island in Miami Beach and I spent there +5 times what I spent in Monaco. Blew my mind!
- Too many other things I would rather NOT list, so it won't end up like Dubai with every Tom, Dick, and Harry making IG and TikTok videos of their scams
Bespoke triplex penthouse overlooking the Mediterranean sea - Viviani Champfleury Barco
a0E6g00000626r9EAA
Once you reside there you will end up getting to know other wealthy people (likes attract likes) and opportunities are often shared over lunch, drinks or any other (in)formal event.
Also Monaco is hard to get in, because of extensive due diligence. Many choose Dubai over Monaco, because Dubai has 0 due diligence
About staying in France. You have to be french to be able live normal life in France. It's really not an international place
About staying in France. You have to be french to be able live normal life in France. It's really not an international place
100% this! Great insight on your part. This is lost on most people.
I mentioned this over one week ago to someone else here on OCT....
PS. Of course, my business is really hard labor, and the profit is NOT that great. I'm just a glorified business shopper with extreme attention to detail who will fly to Asia, especially China, and oversee the acquisition/procurement process from the beginning to the end no matter how long it takes, and without circumventing the Captains of Industry or embarrassing them or their business associates.
It's not all its cracked up to be in the movies, it's actually rather dull, and you have heaps of plebs visiting for the day causing chaos.
*I'm still showing on Google as living there*. decade and half later lol.
Far better places in the world, with a lifestyle opportunities to suit everyone and usually without heaps of tourists. (Phuket North was one - now no longer), St Barts still is ok, Italy has the Rivera which is nice, Croatia (Spitz) etc, not the same tax setup. but acceptable with some working, and better with other.
You’d think they’d up that to about 5m basic now
*I'm still showing on Google as living there*. decade and half later lol.
Far better places in the world, with a lifestyle opportunities to suit everyone and usually without heaps of tourists. (Phuket North was one - now no longer), St Barts still is ok, Italy has the Rivera which is nice, Croatia (Spitz) etc, not the same tax setup. but acceptable with some working, and better with other.
This should be easy enough for anyone even considering Monti. - surely.
You’d think they’d up that to about 5m basic now
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Thanks for sharing everyone.
Dubai feels young, both by spirit and by average age - they literally push out everyone who's over 50 and is not a wealthy retiree. Monaco I remember looked a bit like an early retirement house or a cruise ship (35% of 35k population is over 65), posh and well maintained, but still very small and dull for younger families. Maybe I should give it another look.
Yes Dubai is full of "Tiktok", "instagram" influencers and "stars". Crypto boys, pretenders, scammers, defected European mafia bosses, "become millionaire in 30 days" style of mentors etc. If this is the quality of people you look for it's the best place to be
Allow me to add my point of view to the conversation as a young person in the process of moving to Monaco.
First, Dubai does, there are more young people. Generally, prostitutes tend to have an average age closer to 20-25, rather than 50. Surely, during the summer the average age in Monaco will also drop, when those same girls go from Dubai to Monaco.
What is the average age in Dubai during the low season? Low-cost retirees at 50 degrees. If you don't trust, travel and see with your eyes during july and august season.
Dubai is probably the worst place in the world to socialize and make friends. Just my opinion, of course if you like prostitutes and businessmen of suspect reputation, then it's your place.
Many say that Monaco is boring. Surely. The same as any rich area on the outskirts of any European capital.
But just 15 minutes away you have Nice, 20 minutes from San Remo, a little more from Cannes... you can go on weekends to Milan, in winter to ski in the Alps, to relax in Genova, practically the same thing you would do if you lived in Zurich. , Geneva or Luxembourg, for example.
Having your home in something we could consider a neighborhood does not mean that you have to spend your entire life within that neighborhood. Who does that? I don't even know middle class people who don't leave their neighborhood. Why should a rich man stay locked in his house all day? It makes no sense as a justification that Monaco is a bad place to live.
The benefits however are clear. Good Mediterranean climate, unbeatable tax system and security that I can sleep peacefully at night without a gang of Kosovar Albanians attacking my home to steal 4 watches and a little cash.
Where you can live and be whoever you want to be. Anyone who has a wealth above the average in the West knows how frowned upon being rich is in many European countries by society in general. In Monaco people literally give a s**t about how much money you have.
I have never been judged by a rich person for being who I am. But many times by people with the worst financial situation. Yes, I am the poor of the rich people. And what is the problem? I have my business and I focus on my life. I am not in this world to prove anything to others, but to prove myself and my family.
I don't even see interacting with other millionaires as an excessive benefit. I make contacts all over the world, even living in Estonia. Because I'm not locked up here all year. I travel. And I make contacts with people who live in New York, London or Paris. People who could be in the top 1% of the rich living in Monaco.
In fact, I'm sure you can make better high-level contacts in New York, Moscow or London than in Monaco, simply by volume. It doesn't mean that I close myself off from meeting people in Monaco, but that I don't see it as something necessary. If the chemistry is right for two people to establish a friendship or business relationship, perfect. And if not, absolutely nothing happens. Just as if you were living somewhere else.
I can understand that there are people who like Southeast Asia, the Caribbean, big capitals like New York or London, or life in the desert of Dubai. But in terms of quality of life, Monaco is no different from any other place in the south of France or the Gulf of Genoa, because you can live exactly as the people in those places live, have the same hobbies and the same climate and travel within a few minutes. minutes to the same places. There is no difference in terms of living conditions.
For a person who lives in the center of Paris or London, their daily life is going from the office to home, and from home to the office during the week.
Traffic jams in Monaco? Dam! Don't live in Bangkok or Dubai. Not to mention New York, London or Paris. Your place is in the Tibetan mountains.
Sorry for the sarcasm, it's not intended to offend anyone. But it's funny the excuses, disadvantages and fatalities that many see in living in a place like Monaco...if you still tell me a Caribbean island or Koh Samui, I'll buy it. You have to take a plane every time you don't want to feel cooped up.
And yet there are thousands of people who live in those places and are perfectly happy.
First, Dubai does, there are more young people. Generally, prostitutes tend to have an average age closer to 20-25, rather than 50. Surely, during the summer the average age in Monaco will also drop, when those same girls go from Dubai to Monaco.
What is the average age in Dubai during the low season? Low-cost retirees at 50 degrees. If you don't trust, travel and see with your eyes during july and august season.
Dubai is probably the worst place in the world to socialize and make friends. Just my opinion, of course if you like prostitutes and businessmen of suspect reputation, then it's your place.
Many say that Monaco is boring. Surely. The same as any rich area on the outskirts of any European capital.
But just 15 minutes away you have Nice, 20 minutes from San Remo, a little more from Cannes... you can go on weekends to Milan, in winter to ski in the Alps, to relax in Genova, practically the same thing you would do if you lived in Zurich. , Geneva or Luxembourg, for example.
Having your home in something we could consider a neighborhood does not mean that you have to spend your entire life within that neighborhood. Who does that? I don't even know middle class people who don't leave their neighborhood. Why should a rich man stay locked in his house all day? It makes no sense as a justification that Monaco is a bad place to live.
The benefits however are clear. Good Mediterranean climate, unbeatable tax system and security that I can sleep peacefully at night without a gang of Kosovar Albanians attacking my home to steal 4 watches and a little cash.
Where you can live and be whoever you want to be. Anyone who has a wealth above the average in the West knows how frowned upon being rich is in many European countries by society in general. In Monaco people literally give a s**t about how much money you have.
I have never been judged by a rich person for being who I am. But many times by people with the worst financial situation. Yes, I am the poor of the rich people. And what is the problem? I have my business and I focus on my life. I am not in this world to prove anything to others, but to prove myself and my family.
I don't even see interacting with other millionaires as an excessive benefit. I make contacts all over the world, even living in Estonia. Because I'm not locked up here all year. I travel. And I make contacts with people who live in New York, London or Paris. People who could be in the top 1% of the rich living in Monaco.
In fact, I'm sure you can make better high-level contacts in New York, Moscow or London than in Monaco, simply by volume. It doesn't mean that I close myself off from meeting people in Monaco, but that I don't see it as something necessary. If the chemistry is right for two people to establish a friendship or business relationship, perfect. And if not, absolutely nothing happens. Just as if you were living somewhere else.
I can understand that there are people who like Southeast Asia, the Caribbean, big capitals like New York or London, or life in the desert of Dubai. But in terms of quality of life, Monaco is no different from any other place in the south of France or the Gulf of Genoa, because you can live exactly as the people in those places live, have the same hobbies and the same climate and travel within a few minutes. minutes to the same places. There is no difference in terms of living conditions.
For a person who lives in the center of Paris or London, their daily life is going from the office to home, and from home to the office during the week.
Traffic jams in Monaco? Dam! Don't live in Bangkok or Dubai. Not to mention New York, London or Paris. Your place is in the Tibetan mountains.
Sorry for the sarcasm, it's not intended to offend anyone. But it's funny the excuses, disadvantages and fatalities that many see in living in a place like Monaco...if you still tell me a Caribbean island or Koh Samui, I'll buy it. You have to take a plane every time you don't want to feel cooped up.
And yet there are thousands of people who live in those places and are perfectly happy.
at least in prison cops wear uniforms so you know who you are dealing with
And die either suddenly by stabbing or slowly by pollution:
You mean Geneva, right?
It’s always funny to read that a particular place is so nice because it’s close to nice places
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I can agree. Genova is scary place. Nice is also scary place. Been all around North Italy, South France. Milano is also scary.
What good part is Switzerland is nearby, Tuscany is nice. Some parts of South France.
You exit Monaco and most places are really not so nice. Many Monaco residents just stay inside of Monaco
What good part is Switzerland is nearby, Tuscany is nice. Some parts of South France.
You exit Monaco and most places are really not so nice. Many Monaco residents just stay inside of Monaco
at least in prison cops wear uniforms so you know who you are dealing with
And die either suddenly by stabbing or slowly by pollution:
View attachment 6264
You mean Geneva, right?
It’s always funny to read that a particular place is so nice because it’s close to nice places
Bro, I born in WARcelona. And I graduated in Madrid.
No fear of stabbings and pollution,
I mean Genoa, sorry to write in spanish the name. I'm not going to live there either, just go some weekend. There are nice spas to relax on a weekend.How is the pollution in Dubai and Bangkok?
Geneva is the biggest boring city that i saw in my life. I spent few years ago the Christmas day there and com on! Just open the McDonalds. Maybe I was in the worst day, but stil...
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Born in Barcelona you will be ok in Genova, Nice etcBro, I born in WARcelona. And I graduated in Madrid.
No fear of stabbings and pollution,
How is the pollution in Dubai and Bangkok?
Geneva is the biggest boring city that i saw in my life. I spent few years ago the Christmas day there and com on! Just open the McDonalds. Maybe I was in the worst day, but stil...
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