MONACO is the second richest country in the world, and an estimated one in three people live there.
So where is this flashy sovereign nation, and what A-list names does Monaco attract?
Is Monaco in France?
Geographically, Monaco is located in France and is surrounded by France on three land borders – but it is not politically or financially part of France.
Monaco was once part of France, and was briefly a colony of Genoa, Italy, from 1215 to 1297, after which the Grimaldi family settled and took over.
Grimaldis remains the current ruling family of Monaco to this day, and is the longest-lived royal family in Europe.
Monaco spent a short time belonging to the Spanish rulers, and a strange year belonged to Sardinia around the early 1600s.
Is Monaco a country?
Yes, Monaco is the second smallest country in the world, with a population of 39,511 – second only to Vatican, where there are only 800 people.
It is a constitutional monarchy that has been a sovereign state since the late 13th century.
At 0.75 square miles, Monaco is smaller than New York’s Central Park, or the Washington DC mall.
The current ruler of Monaco is Albert II, and it has an elected parliament of 24 seats. France is responsible for its own defense.
Monaco has no natural resources, arable land or income taxes.
The flag of Monaco has four equal horizontal red and white bands, starting with red at the top.
They are the official colors of the House of Grimaldi, rulers of Monaco. Red seems to symbolize human flesh, while white symbolizes purity.
The Monegasque national anthem was first composed in 1841, and the official language in Monaco is French.
Monaco became a full-fledged country in a treaty in the late 1800s, and the Grimaldi family’s monarchy remains secure today, even if they have no official heirs.
What currency does Monaco use?
Monaco has used the Euro as its official currency since 2002 – but it is not a member state of the European Union.
The Euro replaces the Monegasque Frank, which has existed only since 1987.
Charles de Gaulle made an agreement with Rainier, ruler of Monegasque in 1963, that French citizens living in Monaco pay income tax to Paris.
De Gaulle had threatened to cut off the money supply to Monaco a year earlier because the French Government was fed up with not receiving taxes.
Is Monaco the richest country in the world?
Monaco has the second highest GDP per capita in the world, at $165, 420.
This is second only to Liechtenstein, which boasts a GDP per capita of $166,021 – but also 80 times larger in area than Monaco.
Monaco is the wealthiest part of the French Riviera, and is famous as a tax haven, as well as lavish lifestyle.
The economy is mainly fueled by tourism to the casinos in Monte Carlo, which are so successful that Monaco pays no income tax.
Monaco is also famous for its Michelin-starred restaurants and spectacular shopping center with marble floors, crystal chandeliers and top designer boutiques.
Monaco hosts many events associated with extreme wealth, such as the Monaco Yacht Show and grand opening.
Culturally, it houses the state-of-the-art interactive Oceanographic Museum, the Rose Ball, and the Monte Carlo Symphony Orchestra.
Monaco is officially dedicated to protecting the environment and promoting sustainable development.
Famous people living in Monaco?
The absence of income taxes and lavish lifestyles have attracted the wealthy to buy properties in Monaco, and many A-listers visit to make important gains during the year.
Hollywood star Grace Kelly famously married Prince Rainier III of Monaco in 1956, becoming Princess of Monaco.
Tennis star Novac Djokovic owns a vegan house and restaurant in Monaco.
The most famous royals include Prince Albert II and his sister Caroline of Hanover – two of Grace Kelly’s three children – as well as Prince Albert’s wife Charlene – a former South African Olympic swimmer.
Princess Caroline’s daughter, Pumpkin dish, charlotte Casiraghi – granddaughter of Grace Kelly – also had a successful career as a champion.
Many other famous people live near Monaco, such as Bono in his beach villa, Julian Lennon, Elton John and David Furnish, and Joan Collins.
Leonardo Dicaprio often vacations near Monaco on his yacht, as do Kate Moss and Naomi Campbell, Rihanna, Roger Moore, Beyonce and Jay-Z.
https://www.thesun.ie/travel/8164491/is-monaco-in-france/ Is Monaco in France?