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Relocate to Monaco, how money required?
- Thread starter diro
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This is a VERY revealing question!
Particular questions are, in essence, the window to someone's soul. 
It would have NEVER crossed my mind to ask such questions, but thanks for asking!
The answer is "no" because I travel too much, but I do visit places like Die Katerbande | Café CASA DEL GATO | Zürich in every city I go and feed stray animals everywhere I go. If the animals follow me, I'll take them to the vet and find them a home. I love it! They are 100% grateful and NOT waiting for me to croak or accelerate my demise to inherit or "take" my possessions or willing to become friends with the "taxmen" to get a 30% reward...from whatever the taxmen can siphon off me.
I agree with EVERYTHING you said, except this one.
To me, "compromising" on something inherently evil and wrong is, well...wrong!
It's like rationalizing about how many inches of the taxman's penis in one's butt makes one "gay."
The REAL question for the taxman is this:
------------
If wanting to keep the money I've worked very hard for makes me greedy and a criminal...then...
What does wanting to steal someone else's money they've worked very hard for make you, Mr. Taxman?"
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Almost 90 wow, well sir you still have a youthful glow on you. I wish you many more years to enjoy life as you please it...
As for Monaco, most talk here about money and tax savings but what about the sense of safety?
Nowadays in EU it feels like the only place to wear nice things, bags and jewelry. No one will try to steal from you, if they spot something shady 5 police cars are on it immediately. Unless a well prepared Rolls Royce jewelry heist happens occasionally
In my city, in my country, in neighboring countries I watch my surrounding front and back.
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No such thing in Monaco! There are cameras everywhere! There are even undercover cops and the "Gestapo" neighbors who have a direct line to the police. Monaco residents take "neighborhood watch" to a whole new level!Almost 90 wow, well sir you still have a youthful glow on you. I wish you many more years to enjoy life as you please it...
As for Monaco, most talk here about money and tax savings but what about the sense of safety?
Nowadays in EU it feels like the only place to wear nice things, bags and jewelry. No one will try to steal from you, if they spot something shady 5 police cars are on it immediately. Unless a well prepared Rolls Royce jewelry heist happens occasionally
In my city, in my country, in neighboring countries I watch my surrounding front and back.
Another "satisfied customer" of Monaco
Imagine a country so bad that after just moving you're willing to PAY TAXES just to get back to civilization.
I walked around with a Hublot for 4+ years in one of these "dangerous European capitals" you hear about, with lots of crimes reported in the news. Nothing ever happened. I got some compliments here and there from people who noticed it.As for Monaco, most talk here about money and tax savings but what about the sense of safety?
Nowadays in EU it feels like the only place to wear nice things, bags and jewelry. No one will try to steal from you, if they spot something shady 5 police cars are on it immediately. Unless a well prepared Rolls Royce jewelry heist happens occasionally
In my city, in my country, in neighboring countries I watch my surrounding front and back.
Of course, that's just an anecdote. But overall I think you can go around wearing fancy clothes in many places in Europe and nothing will ever happen to you.
On the contrary, all the cases of friends of mine who got kidnapped/robbed at gunpoint - without a single exception - happened in South America (which is being extolled here). Draw your own conclusions.
Nobody wants Hublot. Try rocking Daytona or Nautilus, see how it goes.
I'm serious - I have no trouble wearing JLC in London, but my Rolexes or Patek are for Dubai only.
I've been a satisfied customer of Monaco since the late 90s. This is an echo chamber. Most people who come here do so to find a(n) (better) alternative, and later, when that alternative does NOT meet their (HIGH) expectations, they complain! It's as simple as that!Another "satisfied customer" of Monaco
Max Verstappen lives in Monaco, saving over +€200M in taxes. If he lived in Belgium, he would be feeding the BEAST and having all kinds of refugees bother him.
Obviously, you have NEVER been to Monaco!
This immediately disqualifies you from talking about money!
A Hublot?
And next year you will regret having paid taxes and spending time speaking with tax men. Instead of just living your life. Loosing Monaco residence I think most tax lawyers would say it would be worst idea in life!I moved to Monaco. It's OK. Just that. Not too many consumer choices. No Uber. No Deliveroo. Amazon Prime works (.fr) though. But it's a bit meh (like everything French).
Anyways...
You don't need that much money to live in Monaco and get the residence card, provided you're a civilized and educated person. The legal requirement of €500k will work provided you have the right connections, and again, you're a civilized educated person with social skills.
As per cost of living, you can get by with less than 10k / month... Which should be peanuts if you're considering moving to Monaco anyway.
Regarding the banks.... If you show up with 1 million shekels and are coming from Dubai (for example – you can insert any other shady jurisdiction) – I don't think the banks will want business with you. However, make that 100 million... and who knows?
The most important lesson Monaco gave me is that one is better off paying whatever taxes one has to pay to live wherever one wants to ACTUALLY live in.
That's why moving to Cyprus, Malta, Dubai, etc... is pathetic in my eyes.
There's only one life... might as well enjoy it.
Is taxation immoral? Yes. But I don't care anymore... and I'm leaving next year.
why you say that? You're legend on OCT are you a pornstar ?It seems that legends like to interact with or be p**nstars
Thank you very much for your insides.
Do you have any family somewhere which may be the main reason to give up Monaco?
If you don't have like me, it doesn't matter where you live as long as you like the place, so for me it's different.
I think he has mentioned this before. If I'm not mistaken, he has a family he cares for and loves very much. He has alluded that this feeling is also mutual.
NGL, I tried that with my mother, but she berated me. Called me all kinds of unpleasant names
. My mom is the one that came up with the "How many inches of d1ck are you going to let the taxman stick up your anus?" Told me NEVER to let ANYONE rob me, no matter what "disguise" they put on or how big their gang was! Don't put ANYONE else ahead of me!
Take out as many as you can! Eliminate the bad gene pool from the world!
If you all are offended by Trump or Andrew Tate, my mom makes both of them look like choir girls! That French/British woman was a pistol of insults!
How I miss that foulmouthed "classy" lady!
There is a lot of talk of just "wanting to move to Monaco" or being a "perpetual traveler" in this thread. May you please explain on how this works in for example your situation. Where are you an actual legal tax resident? You can technically enter the EU and disregard the 90 day rule for registering as a tax resident if you're a EU citizen, however, banking will be all but impossible virtually anywhere whether in the EU or not without some sort of tax residency somewhere, not to mention things like brokerage accounts, KYC for crypto exchanges, and more. Anyones feedback would be greatly appreciated.
The banks just need to have a tax residency. If you have a Turkish tax id, you give it to them and give them an address in Istanbul if needed. They will report there and all is good.
Turkey is filled with problems. Find a better residency.
That makes no sense, Turkey is not tax free and taxes residents on worldwide income, so that would negate everything.
While Turkey is not tax free and taxes residents on worldwide income, this is false. There are no issues with living in Turkey, Turkish banks are also tier 1 banks, however Turkey provides little value for taxes.
@jafo why is that funny to you? Provide a a response, what I said is absolutely true.
While Turkey is not tax free and taxes residents on worldwide income, this is false. There are no issues with living in Turkey, Turkish banks are also tier 1 banks, however Turkey provides little value for taxes.
@jafo why is that funny to you? Provide a a response, what I said is absolutely true.
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I hate to be the one explaining this and this is THE LAST time I'll do this...
I have a "friend of a friend" who has a Turkish passport (among others). He was NOT born in Turkey, nor does he live in Turkey. He was born in one of the many countries of the EUSSR.
He has relatives and friends in Turkey.
He has an address in Turkey.
He has "copies of bills" in Turkey he uses to establish (some) residency in Turkey.
So, now the EUSSR banks send the CRS report to Turkey, but "the friend of my friend" has NEVER lived in Turkey and there is NO record of him ever living in Turkey. What's the Gelir İdaresi Başkanlığı going to do?
If you don't understand the above, there is not much more I can do.
Don't feel bad, though... I am an avid basketball lover, but basketball doesn't love me back.
During one of the many Michael Jordan's Senior Flight School camps I attended (and paid $15K for), Michael himself tried to teach me how to dunk from the free-throw line. It was a Sisyphean task! I could barely dunk from anywhere.
I sucked so bad most attendees were jestfully calling me: "White men really can't jump."
I understand the concept very well and understood it the first time, it's simple, which is part of the problem. Where does this friend have a tax ID number that banks request? Almost all banks in the EU will require documents to validate tax residency, tax filings, tax certificate, etc
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Matthew (7:7-8): “Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you. For everyone who asks receives, and the one who seeks finds, and to the one who knocks it will be opened.”
So which specific banks will avoid asking for supportive documents of tax residency, short of garbage like EMIs for some small amounts, or banks in Georgia or other3rd tier jurisdictions...Almost all high streets banks in UK along with many private banks in the usual jurisdictions will require the aforementioned details.
No bank ever asked a tax residency document from me in the EU. Mostly they just ask you to sign the FATCA document to confirm you are not a US tax resident, because banks are scared of Uncle Sam.
All they need is a number, usually you can send it to your bank representative's in email.
If they need a copy give them one, or do you think Turk taxmans will visit you in Thailand?
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