Walking Around Monaco 4k60

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In this video I take you on a tour of Monaco. At the beginning of this video I am actually in France, however at 0:48 I cross the border into Monaco. Walking around the tax haven microstate reminds you just how wealthy some people are. Because Monaco does not have income tax, many of the world's richest people choose to make Monaco their official residence. This way they can make millions (or even billions), and legally pay 0% income tax. The US government is one of the only governments to require citizens to pay tax regardless if they live overseas (which is great otherwise everyone would "live" in these types of tax havens), so as a US citizen you would still have to pay US federal income tax if you lived in Monaco.

To benefit from Monaco's tax laws you must be an owner of property in Monaco. This has led to housing prices in Monaco to skyrocket. A modest one bedroom apartment in Monaco can cost upwards of $1 million.

Walking around Monaco, I enjoyed the aesthetic of the city-state, but the people who live there are quite peculiar. I saw several older men driving around in convertible vintage European sports cars with blonde 25 year old models riding alongside in the passenger seat. Monaco is definitely worth a visit however I wouldn't want to stay longer than a few hours.

Monaco, officially the Principality of Monaco (French: Principauté de Monaco), is a sovereign city-state, country, and microstate on the French Riviera in Western Europe. France borders the country on three sides while the other side borders the Mediterranean Sea. Monaco is about 15 km (9.3 mi) from the state border with Italy.

Monaco has an area of 2.02 km2 (0.78 sq mi), making it the second-smallest country in the world after the Vatican. Its population as of 2018 is 38,682. With 19,009 inhabitants per square km (49,230/sq mi), it is the most densely-populated sovereign state in the world. Monaco has a land border of 5.47 km (3.40 mi), the world's shortest coastline of approximately 3.83 km (2.38 mi). The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, which is 161 metres (528 feet) above sea level. Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by 20 percent. In 2005, it had an area of only 1.974 km2 (0.762 sq mi). Monaco is known to be the most expensive and the wealthiest place in the world due to its tax laws. In 2014, it was noted that about 30% of the population was made up of millionaires.

Мона́ко (фр. Monaco), официальное название — Кня́жество Мона́ко (фр. Principauté de Monaco) — карликовое государство, ассоциированное с Францией, расположенное на юге Европы на берегу Лигурийского моря; на суше граничит с Францией[7]. Является одной из самых маленьких и наиболее густонаселённых стран мира. Княжество широко известно благодаря казино в Монте-Карло и проводимому здесь этапу чемпионата Формулы-1 — «Гран-при Монако».

Видео Walking Around Monaco 4k60 канала Alexander John Lee