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Monaco

Principality of Monaco, a sovereign city-state on the French Riviera, is governed under the form of constitutional monarchy with Prince Albert II as a head of state. Monaco is also known as the 'Billionaires Playground' and is the second-smallest independent state in the world. It occupies two square kilometres only. The country is a real tax haven as it does not levy income tax on its residents. Together with political stability, lavish wealth and astounding location, these are the reasons why 32% of Monaco's population is made up of millionaires. The country is also famous for its glamorous events, such as the Monaco Yacht Show and the Monaco Grand Prix, major banking centre and casinos; however citizens of Monaco are forbidden by law from gambling, leaving it up to tourists and foreign residents. What is more, the state has one police officer for every 100 residents and it claims to be one of the most high-security cities in the world, with a 24-hour video surveillance system that covers the entire town. Furthermore, Monaco's GDP is 165,420 USD -the second highest in the world, which makes the poverty rate zero. Perhaps these are the reasons why Monaco has the highest average life expectancy in the world.

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Comments

  1. englishdiary20 November 2020 at 09:19

    There is a difference between "haven" and "heaven". Look it up! You definitely meant a TAX HAVEN.

    ReplyDelete

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