Monaco Property Blog

Monaco Reviewed

February 23rd, 2010

A good article about Monaco, and what to expect as a new visitor, recently appeared in The Hindu newspaper – here is some of what they had to say:

On the day we arrived in Nice and were heading to the hotel, I got chatting with the cab driver about places we could see. He lost no time in coming up with Monte Carlo. Monte Carlo, which lies in the French Riviera on the Mediterranean sea in Monaco, surrounded by France and close to Italy, is one helluva place. Not for nothing is it known internationally as a favourite haunt of the rich and famous.

The Principality of Monaco is the second smallest in the world after the Vatican, extending over a 4,100 km-long coast, not to forget the cliffs that punctuate the skyline and rise steeply above the sea. Founded in 1866, Monte Carlo (meaning Mount Charles) was named in honour of the then ruler, Charles III of Monaco. The mountain that gives it its name is the escarpment at the foot of the Maritime Alps on which the town stands.

With its casinos, opera house, concert hall, and high-profile sporting and fashion events and a host of leisure activities, it is no surprise that the swish set flocks to Monte Carlo.

In the early years, the Principality’s revenues were mainly from its lemon, orange and olive crops. But, taking a cue from the numerous towns in Europe that were growing in prosperity with gambling establishments, Charles III gave concessions to establish a sea bathing facility for the treatment of various diseases and build a German-style casino in Monaco. The casino moved locations several times before its present location in Les Spelugues. In time, the sea bathing facility proved to be such an economic driver that the Monacans earned themselves a surprise boon and were exempted from land, personal and professional taxes.

Today, all the action is at Casino square (Golden square) at Monte Carlo, where the world-famous casino is located, and the nearby Café de Paris.

The lure of casinos

The Casino square is to Monte Carlo what the Strip is to Las Vegas in the USA The Casino de Monte Carlo, which is the first among the great casinos built in the Belle Epoque style is an architectural beauty. It was opened in 1863 and has an array of table games that are a huge draw.

The Café de Paris, built in 1868 and renovated in 1988, has game rooms, slot machines that clink away and a drinking saloon within an overall 10,000-sq m area, and is furnished in retro style and decorated with stained glass windows.

Monte Carlo is all about glitz and glam and style and class; so, you can spot the movers and shakers, royalty and movie stars, and sports and fashion celebrities. The people who set foot here are so elegantly and stylishly turned out, they could give the regular tourist a huge complex.

Quite a number of people also walk in with their stylish, attitude-oozing pets in tow. As for the cars in Monte Carlo, they are worth dying for — from the Ferraris to the Rolls Royces to the Maseratis, you can see them all. To read the rest of the article click here

For property for sale in Monaco and information on the banks in Monaco visit monacoproperty.net

Tags: casino, hindu, holidays, Monaco, travel, vacation
Posted in Monaco, Monte Carlo, tax, tax haven, travel | No Comments »

Monaco The Tax Haven

February 17th, 2010

Here’s an extract from yesterday’s Daily Telegraph in the UK, written by the Monaco Ambassador to the UK, Evelyne Genta:

The Principality of Monaco, the tiny state situated at the heart of the Riviera, is no stranger to criticism. Neither is its ruling family, the Grimaldis, who have remained the monarchs of this micro-size sovereign state for over 700 years. It is, however, important to us Monegasque to convey to the world that our country has progressed into a 21st century democracy.

The Principality has its own democratic and freely legislative assembly. The Prince’s government runs our small country in consensus with the assembly and in accordance with internationally recognised principles of good governance. Our country is a member of the international community and, although not part of the European Union, we comply with international as well as many European laws and regulations. We are represented in the United Nations and in the Council of Europe.

But in the wider public’s mind, the names Monaco and Monte-Carlo remain synonymous with casinos, Formula One, luxury yachts, Grace Kelly and offshore tax havens. And it’s the thorny matter of tax that is central to the criticism levelled at the Monegasque state and its ruler, HSH Prince Albert II.

To the disapproval, if not condemnation, of international “good society”, Monaco has managed to maintain its policy of not charging its residents income tax – a historic concession which has existed since the Principality was founded – and has often been accused of taking extreme measures to protect the privacy of its wealthy and, in some cases, controversial residents.

This absence of income tax has fostered the common belief that Monaco is an offshore tax haven, which is a great misconception. Such misconception must be due, to a large extent, to a lack of clear communication on our part. So, as an Ambassador for my country, I feel it my duty to attempt to demystify the workings of the Monegasque economy.

To read the rest of the article click through to the Daily Telegraph here

For more details about Monte Carlo and the Monte Carlo Casino plus the Monaco Grand Prix visit http://www.monacoproperty.net/grand_prix

Tags: casino, f1, Monaco, Monte Carlo, tax, tax haven
Posted in Monaco, Monte Carlo, UK, economy, f1, grand prix, money, tax, tax haven | No Comments »

Grace Kelly Biography Reviewed

February 4th, 2010

The New York Times has reviewed a new biography about Grace Kelly.

To read it click here

Tribune Properties deal with both Monaco and Andorra, and include details about Andorra residency

Tags: biographies, Grace Kelly, Monaco, New York, reviews
Posted in Monaco, Monte Carlo, celebrities, celebrity, royals, royalty, wedding | No Comments »

Monaco Bank Looks East

February 2nd, 2010

Reuters report that the Monaco branch of Coutts have appointed a senior banker to cultivate business from Russia and Eastern Europe.

For information about the Monaco banks visit monacoproperty.net/banks and for residency and Monaco property for sale visit monacoproperty.net

Tags: banks, Monaco, property
Posted in Monaco, economy, money, property, real estate, tax, tax haven | No Comments »

The BBC And The Monaco Grand Prix

January 29th, 2010

Congratulations to the BBC’s Grand Prix team who won Best Sports Programme this week at the Broadcast Awards.

The BBC Grand Prix coverage has been great compared to ITV’s – no advertisements several times during the race is a major plus of course, but also their team has been giving good informative commentary.

With The BBC promoting the sport, the Monaco Grand Prix is bound to benefit this year from a higher number of viewers in the UK.

Here’s a couple of comments from viewers (to read the whole story click through here):

Well done to all concerned. Richly deserved.

Congrats BBC! Well deserved. Hope you win more awards for the best F1 coverage since 1996!

I was over the moon when i found out that F1 was coming back to the BBC.
Well deserved award.

Tags: BBC, grand prix
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Visiting Monaco

January 28th, 2010

We saw an excellent article in The Guardian in the UK recently, and if you’re thinking of visiting Monaco it’s well worth a read.

Here’s an extract:

The best time to visit is September and October, when the sea is still warm and silky, and the hot silver haze of summer evaporates into the pure dazzling light of a mild autumn. No need to hire a car when the 45-minute bus ride from Nice airport is €28.50 return, or only €2.60 round trip from the centre of Nice. Since the sovereign state of Monaco is only around two kilometres square, everything is within walking distance or easily reachable by bus. (Check out the lifts built into the rock that take you from sea level to the heights of Monte Carlo).

The perks continue: spend three nights in a two or three-star hotel in Monaco, and you get a voucher giving you free entry to the museums. At the top of the kid-friendly list are the guided tours of the throne room and state apartments in the dusty-pink Prince’s Palace and the Oceanography Museum, with its impressive collection of bizarre coral reef marine creatures and a shark lagoon.

To read the full article at The Guardian click here

For more information about the Monaco hotels and for May’s Monaco Grand Prix visit monacoproperty.net/hotels

Tags: Monaco
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Monaco Ready For 2010

December 13th, 2009

Casino Square Gardens

Some European tourist locations are viewing 2010 with apprehension as consumers keep an eye on the economy, but for Monaco it’s a year to look forward to.

Monaco, known for her jet set lifestyle, has had a measured approach to the turmoil in the world economy over the last couple of years. While not immune to what’s going on, the principality is certainly resilient. On the tourist front for example there was an increase in attendance this year for the Monte Carlo Rolex Masters tennis tournament. The increase in attendance comes when many sporting venues globally are experiencing drops in attendance.

Monaco’s measured approach is in the form of businesses offering additional amenities to traditional products and services. The worst thing Monaco could do is appear as ‘Monaco on Sale.’ No big price reductions are happening in Monaco. This would take away from the unique character of the region. It would be akin to a French Riviera restaurant of exquisite cuisine offering fast food as a takeaway.

Monaco still means tourists paying significant euros to enjoy splendour. It still has an air of affluence and aura of extravagance. While many tourist regions are seeing fewer middle class holidaymakers, Monaco still has the rich, and even the somewhat well to do whom they can count on.

This doesn’t mean they’re taking things for granted though. To remain competitive, Monaco businesses still promote premium service and famous events to keep the cash rolling in. Their selling point is world class events in a luxurious setting that one should experience at least once.

A prime example is the Formula 1 Monaco Grand Prix. Every May, ultra-sophisticated Grand Prix racecars zip through, around, and up and down the byways of Monaco. Celebrities, including Hollywood stars, supermodels and sports figures attend the Monaco Grand Prix, often popping down for a couple of days from the nearby Cannes Film Festival.

Formula 1 cars speed along the stunning Monaco harbour area and through the tunnel as part of the course. Global television audiences see before them the quaint principality and its impressive Monte Carlo casino.

As the rich and famous cavort, holidaymakers around the globe get a sense of the special character of Monaco. This results in those vital tourist euros pouring into Monaco each year.

Essentially, this luxurious aura is what helps Monaco weather tough economic times. Many tourist regions are cookie-cutter examples of other tourist areas. Think of some tropical locales that offer beaches and oceanfront. Then think of a host of others that offer the same thing.

Located between the South of France and Italy, Monaco is different. Monaco has its fine architecture and rich House of Grimaldi royal tradition. People know the story of Prince Rainier III and Grace Kelly, the Princess of Monaco.

The Principality is a constitutional monarchy. Prince Albert II is the head of state, the Sovereign Prince. He is the son of the late Prince Rainier III. The executive branch consists of a Minister of State. This individual oversees a four-member Council of Government.

In this regal setting reside top businessmen and women, movie stars, F1 drivers and other famous people. Of course, Monaco has a reputation for her tax haven status and most banks ensure they are represented at one of the Monaco banks.

Rich with history, Monaco, in addition to the Monte Carlo casino has the Place du Palais. This attraction offers a splendid panoramic view overlooking the Port and Monte Carlo. Every day in front of the palace’s main entrance, visitors can watch the grand changing of the guard ceremony.

Another fine attraction in Monaco is the Oceanographic Museum & Aquarium. Inaugurated in 1910 by its founder, Prince Albert I, this facility took 11 years to build. Monaco also boasts its Monte Carlo Opera, Monte Carlo Ballet and The Monte Carlo Philharmonic Orchestra. In addition, Monaco is home to AS Monaco, its soccer team that plays in the French Soccer League.

It should be enough to ensure Monaco does well in 2010.

More details about Monaco can be followed at twitter and other social media

Tags: ballet, celebrities, economy, f1, football, France, Grace Kelly, grand prix, holidays, Hollywood, Italy, Monaco, Monte Carlo, opera, recession, soccer, sport, sports, supermodels, tax haven, tennis, travel, vacations
Posted in Monaco, Monte Carlo, celebrities, celebrity, economy, f1, finance, grand prix, money, sport, sports, tax, tax haven, travel | 1 Comment »

What To Do In Monte Carlo

November 19th, 2009

Monte Carlo Casino The Daily Mail ran a very good article recently about what to do while in Monte Carlo.

Here’s an extract of what they had to say:

1. ARRIVE IN STYLE

The best way to reach Monaco is still in an Aston Martin DB5, twirling down the hairpin bends from the Alps. Alternatively, just buy the GoldenEye DVD and see how 007 does it. There is a more affordable grand entry – by helicopter from Nice airport.

A seven-minute ride costs upwards of €100 each (around £97). Failing that, the 100 bus from the airport takes 45 minutes.

If you are coming from anywhere on the Cote d’Azur, take a train on the Marseilles to Nice line. Arriving at Monte Carlo station’s sumptuous marble halls, you half expect the Monte Carlo Symphony Orchestra to strike up.

2. FULL MONTE

You don’t need a gold-plated credit card to visit Monte Carlo and the famous streets where the Monaco Grand Prix takes place. Take a day-trip there and you’re free to walk around with the stars, the mega-rich and the zero-tax-paying citizens.

There’s lots to do for nothing, or at least next to nothing. There are five circular bus routes – tickets cost €1, or take the hop-on, hop-off Azur Express for €6 (£5.80).

The cathedral, where Princess Grace is buried, dominates the old town area, but there are many interesting little streets to delve down, all as neat as a pin. Alternatively, simply mill around outside the Opera House and the Casino (strict dress code if you want to play the tables).

Or why not window-shop? As a day-tripper, with a coffee and sandwich for lunch, you could still have change from £10

To read the full article, click through to the Daily Mail here

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Prince Albert To Sue Over Sex Claims?

November 8th, 2009

The Associated Press report that Prince Albert is to sue over claims of a sex scandal – click here to read the report.

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New Monaco Property November 2009

November 4th, 2009

Here are details for four Monaco properties for sale - details of all the currently available properties are available via monacoproperty.net

Fontvieille. First floor 61m2 + 20m2 terrace one bedroom apartment in the upmarket building ‘The Paradise’ which includes residents swimming pool and excellent Mediterranean views. Living room, bedroom, bathroom, guest wc and parking space. 2,750,000 Euros ref: 754 * 9 photographs available by email *

Larvotto. One bedroom 9th floor apartment in ‘Le Vallespir’ – 85m2 including terraces. Excellent Mediterranean views. Living room, kitchen, bathroom, guest wc and lock-up garage. Offshore company owned so no notary fees. 3,500,000 Euros ref: 750 * 7 Monaco photographs available by email *

Chateau Perigord. 3 bedroom, 3 bathroom apartment in excellent decorative order, 176m2 with terraces. First class sea views and walking distance of the Monte Carlo casino 2 garages. Offshore company owned so no notary fees. 7,700,000 Euros ref: 752 * 6 photographs available by email *

Larvotto. Duplex 3 bedroom 2 bathroom (145m2 each floor). 10th and 11th floors in ‘Le Vallespir’. Large living room, kitchen, guest wc, terraces with excellent Mediterranean views and close to Monaco harbour. Lock-up garage. Offshore company owned so no notary fees. 9,000,000 Euros ref: 751 * 7 photographs available by email *

Posted in Monaco, Monte Carlo, property, real estate, tax haven | No Comments »