Located on the Mediterranean Sea and bordered solely by France, the Principality of Monaco is the world’s second-smallest country and one of its wealthiest, with a GDP nearing USD 9 billion. Monaco is known for its exceptional quality of life, mild climate, high personal security, and modern infrastructure. It offers significant tax benefits, including no income or capital gains tax for residents.

As an independent sovereign state and a full UN member, Monaco has French as its official language, though Italian and English are also commonly spoken. The principality shares a customs and monetary union with France, with French VAT applying.

To gain residency, applicants must prove they can sustain the high cost of living, particularly the expensive real estate market, which is comparable to major global cities. Monaco residents, with the exception of French citizens, are exempt from income, capital gains, and wealth taxes. Holding a residence permit in Monaco also provides visa-free access to the Schengen Area of Europe.

Additionally, Monaco's strategic location and stable political environment make it a desirable destination for individuals seeking both luxury and convenience in their lifestyle.