Principality before the Second World War
The principality, which was reduced in size and deprived of resources, was in an extremely difficult financial and economic situation. Raising taxes further was impossible. Back in the 1850s, the…

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Formula 1. Grand Prix of Monaco
April 14, 1929, at 13 hours 30 minutes under the High patronage of His Serene Highness Prince Louis II, Prince Pierre opened the first Grand Prix of Monaco. 16 riders…

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The art of appeasing guests
In Monaco, even everyday life is like an eternal holiday. A tiny rocky piece of land at the junction of the Cote d'Azur and the Italian Riviera as a powerful…

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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

Dwarf happiness costs huge money
Most citizens, when they say “dwarf,” have a blissful smile on their lips. Still would! Whose heart does not touch the dwarf poodle baby? Who will not be touched by…

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Principality before the Second World War
The principality, which was reduced in size and deprived of resources, was in an extremely difficult financial and economic situation. Raising taxes further was impossible. Back in the 1850s, the…

...

Monaco - Millionaire Reserve
Monegasques (as the locals call themselves) manage from time to time to solve their "housing problem" without declaring war on neighboring France. Land is taken from the sea, filling new…

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