You guys are so right; I'm obsessed with Monaco and love cars but the superficial nature is a turn off because I can imagine it would get old quick and be an unfulfilling environment.
@@luchernou627American citizens still pay federal income (above the FEI limit) to Uncle Sam, EVEN IF YOU ESTABLISH RESIDENCY IN MONACO. ..sucks I know..
@@luchernou627 37%? think again, +4% investment surcharge if you are not homeless, plus 15.4% self employment, + state, +local, plus real estate, plus garden variety of fraudulent shake down taxes, fees and licenses, how about 80%+? does it seem right for you? I can be exact if you want. Nothing wrong with taxes, it is wrong if you get absolutely NOTHING for that, than it is simply an extortion
A reporter interviewed a man who lived in Monaco. The gentleman said you need around 40 million dollars to live in Monaco comfortably. The man sold his business in the UK and retired to Monaco. This was fifteen years ago.
Hello ! Your video is interesting, it gives an updated and fresh point of view. You are right for the costs and expenses to live there. However, I don’t agree with the “show off” attitude. Yes, it may be surprising. It is true that many supercars and yachts are everywhere but real millionaires/ billionaires established in a Monaco are usually discrete. They usually don’t even use their car as it is sometimes impossible in Monaco and you won’t see any brands on their shirts and clothes. They don’t spend money to impress on public spaces. Some of them tend to be like this but they are not residents. The only “show off people” are Monaco “wannabe residents” but are only tourists or they just arrived in the Principality. Many Russians that tend to be like that 18/20 years ago understood that Monaco was not a playground for wealthy kids. Actually, I would even say that Monaco “educated” some of the wealthy foreigners… Moreover, there are many “normal people” (like me !) Monégasques or French and Italians working and living with comfortable payrolls but not millionaires. They have their feet on the ground and are aware of the beauty, the security and the exceptional conditions offered by the a principality to work and create business. I just wanted to hilight these points and next time we meet and I’ll prove my point. 😇
I guess we should have been much clearer, it seemed like the people there (tourists most likely) were the ones being more ostentatious. Thanks for taking the time to watch and comment on the video! - Josh & Kalie
Auckland New Zealand has the most boats per population in the world and has the a lovely harbour and great swimming beaches. Looks like Monaco will be nice to visit, but a bit small and not a lot of real estate for your money.
While the beauty, weather and cost of living were not surprising-you’re observation on the local vibe was not what I would initially expect…although I can see it. Thanks for this great overview. 👍🏻
Definitely not worth the price unless you're a billionaire and need to diversify your real estate investments. Also a country that small with such a high population (and almost exclusively made out of billionaires) feels very artificial. On a different note, the 100-150 euro/month for utilities in EU depends greatly I think. I pay 200 euro/month (Hausgeld so no electricity or internet included) for a 42 m2 studio in Berlin and this is very much a standard amount.
Agreed. We weren't try to get too in the weeds when talking about utilities but yes, it varies greatly depending on country, seas of year, and size of house. €200 for a 42m2 studio seems high. How does this compare to your friends?
And in Monaco, for most people are unable to stay at ultra luxury hotels they just hang around, taking some few clicks at the most, have a coffee at the nearby bistro’s.
FYI- You obviously have not lived in Nice for any long length of time. If you had you would know that Nice is incredibly corrupt and has been for decades. Why do you think the rich choose Monaco over other tax havens, it is the fact that it is the safest country in the world ! Like you said there are some old people who are VERY rich and their safety is what concerns them. This is also very true for rich women in particular. You did not mention that there are no inheritance taxes either.
@@paulbird1808 - Well, at one point in their history not that long ago, people were being shot down in the afternoon. No need to wait for night time bc the police were not going to hurry. Things are more subtle now, it's all about back handers and who pays the biggest bribes.
It seems that you don't know nothing about the corruption scandal in Monaco that affects ministers. Rich people are living in Monaco because they don't pay taxes and don't have to live with poor people that cannot live here but in France
@@languerouge5385 - So far, there are just allegations. There are approx 8000 Monagasques living in Monaco and they are NOT all rich. They get rent supplements if needed and they get preferential employment action as well. No one is living below the poverty level. There is no slum area in Monaco either. Plus, name me one country that hasn't had a government scandal AND that also makes sure their people are well looked after ❗
easy, teachers and nurses dont live there but 2 km further in france.and the born monegasques are protected against the high prices,their goverment pays the difference between normal housing and the high prices
very informative video. From my understanding, to move to Monaco you must have $500k in a Monaco bank account and have a rental agreement and prove income to sustain your expenses. What is mean by ex-pat? Excellent video. Thank you .
Thanks, Christopher. An expat is someone generally defined as to have left their home country. They tend not to stay in their new host country for long but that doesn't mean that they'll return to their home country either.
Kalie please speak more slowly All these boats and the seediness vibe it gives out is undeniable, that makes me wonder how many drug traffickers could be spotted if one spent the day watching the jetty. You will get so many hits on RU-vid! Did you speak with enough people who are actually paying the >€30k/month? I suspect very short rental & high tenant turnover Totally agree with your opinions at 2nd half. 👍It's appreciated and I hope you will discover with us other nice or less seedy places similarly 😊
As a matter of fun, i did a calculation: you could live in monaco as a scroodge, or a beggar, by buying a studio for 1 milion euro, give or tke, and living with another couple of milion in the bank. Let's say that with 2/3milions euro you can live there.
Probably i missed the point of this video. But, If you live in London, Stockholm, Paris, Amsterdam you also pay high rents. You also pay up to 50% income tax, 20-30% capital gain tax etc. Even if you pay 50.000 euro/year more rent compared to Amsterdam and save 50.000 euro on taxes it makes no difference. There are many consultants, lawyers, freelance specialists earning 150.000 to 250.000 euro a year (and paying 50.000 to 100.000 euro on taxes). But I guess these all 'live' in Dubai, Malta, Cyprus etc...
No most of people working in Monaco are just average people (that's why they still have to work)but they live in other cities nearby that belong to France or Italy ( lot of Italians coming to work in Monaco).
@@luchernou627 it seems the government doesn't want the citizens to be exposed to casino fraud and usual type of people visiting casinos, it is reasonable
If your company would move you there you can still live in cap d''ail an the left side or roquebrune on the right side wich are both walkable and are in FRANCE wich is 10x cheaper.Where do you thing the monegasques go shopping in the aldi or lidl or carrefour or super U, Ofcorse in france,5 minutes on bycile. they go to the store in Moinaco when they forget something.Apartments cost milions to buy but gain 10% every year in value,So its like a 10% savingsaccount. My friend lives there and owns some apartments thats why i know,i visited him already a couple of times., I see you talk about Nice.wel Nice and marseille and Lille are next to de banlieus of paris the mostdangerous places in France.murders robberies,pickpockets.rapes drugs you name it. so those cities are a bad choise as a tourist unless you want to get robbed
You are a liar. I was living in Nice. I know people like you who are always talking about murders or robberies to make people believe that the word is a dangerous place.
There are taxes in Monaco. VAT on everything including purchasing a property. There are corporate taxes, otherwise the entire EU would move their business there. There are no inheritance taxes, capital gain for non French citizens. Corporate taxes are around 33% for who earn 25% or more of their profits from overseas sources. But there is no property taxes. There are a lot of self-made people living there. Overcrowded of fresh money people from Russia. And gold-diggers from there also.
high cost of living with stunning beauty around vs insane taxation in the US, (getting exactly what for that?) while living in a criminal, murderous, drugs infested rotting dump, tough choice...
