About Monaco

Monaco, located on the French Mediterranean coast, is the second-smallest independent state in the world (after Vatican City). Monaco's economic development was stimulated in the late 19th century with a railroad connection to France and the opening of a casino. Since then, the pleasant climate, the gambling facilities, the tax-free income and the glamorous lifestyle have made Monaco world famous as a tourist and recreation center.

For more than a century now, the aristocracy, royalty and the wealthy have discovered the pleasures of this city. The Principality of Monaco has successfully sought to diversify into services and small, high-value-added, non-polluting industries. The state has no income tax and low business taxes and is a tax heaven both for individuals who have established residence and for foreign companies that have set up businesses and offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.

With the Mediterranean climate and splendid scenery, the famous Monte Carlo Casino, and world-class art and cultural performances, Monaco will always be one of the most attractive travel and vacation destinations in the world.