About the tax-free system and the construction boom
For the first time, the principality seriously thought about the possibility of a financial catastrophe in the twenties, when the decline of the gaming industry sharply reduced the income of…

Continue reading →

Court of Honor
The Honorary Courtyard is considered the former central part of the 13th century fortress. He took on his true architectural appearance during the reign of Honor II. His successor, Prince…

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Monaco. History and culture of Monaco
The history of Monaco is largely the story of the Grimaldi family, which owns these lands. In 1918, an agreement was concluded between Monaco and France, according to which, after…

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About the tax-free system and the construction boom

For the first time, the principality seriously thought about the possibility of a financial catastrophe in the twenties, when the decline of the gaming industry sharply reduced the income of the dwarf state.

Jules Richard – as it turned out, a connoisseur of the local economy – willingly undertook to talk about how the principality managed to get out of a difficult situation.

We sat at the table of a small cafe on the promenade of Monte Carlo. My interlocutor sipped a beer from a tall glass and began like this:

– The prescription drug was found in a law containing two articles: the first one said that Monegasques living in France are subject to the tax system of France, not Monaco; the second article said that the French living in Monaco are subject to the laws of taxation of the principality and do not pay taxes to France. Continue reading

Roses in memory of a beloved
On January 27, 304, a ship was thrown onto a rocky seashore, on it was the body of the young Christian martyr Devot - as the legend says. A white…

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Older sister (part 2)
After the death of her husband, the princess closed up: she almost abandoned onerous secular duties and spent most of her time with her children in her village estate in…

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Monaco Yacht Club
The principality's interest in sailing regattas has a long history. Indeed, back in 1886, the “Regatta Committee” was created, which, with the assistance of the Society of Sea Baths, organized…

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Royal circus
The XXXIII International Circus Festival in Monte Carlo brought together the best artists from around the world under the dome of the famous tent of Fontvieille. Among them were our…

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