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Get to Know About Monaco
Many confuse Monaco to be part of France. Actually, it is false; Monaco is a small sovereign-state bordered by France on three sides and the Mediterranean Sea on the other. The second smallest country in the world, Monaco has an area of 2.2 square kilometers and an estimated population of 39,000. Thus, it has the highest population density in the world (18,713/km2).
As you can see, Monaco is as small as a society, and it just happens to be a community of some of the richest people in Europe. It has the second-highest per capita income in the world; the GDP PPP per capita is USD 132,571. Additionally, the country has the lowest poverty rate and has one of the most expensive real estate markets. The driving economic sector is tourism, most notably the gambling industry.
Doing business in Monaco is for already established individuals who can make a significant amount of investments. However, once you build a business in the nation, it is a haven. You won’t need to pay any personal taxes (except for French nationals in Monaco), and there are no corporate taxes in case you make 75% or more income inside Monaco. Of course, there are developed infrastructures and excellent healthcare.
For those who want to know, Monaco is not a part of the EU itself but is registered in the EU as an administrative region of France. This means you get all the benefits of the EU.