Relocate to Monaco, how money required?

[aniglo22]

No chance. I'm guessing the minimum entry for Monaco that would make sense would be $10 million, and you'd probably be living in a studio. Do some online searches for Monaco real estate. It's some of the most expensive in the world.

little bit overexaggerated , you can get something "liveable" under 5k . LARGE 2/3 ROOMS, with panoramic view, exclusive - Ref. LM-02-23 (3900)

 

[cuno]

As @peter taradash already mentioned, it depends on what you want to live in and how creative you are. If you're not too demanding, you can find something to start with in Monaco for around 2,000 to 5,000 euros.

 

[diro]

No chance. I'm guessing the minimum entry for Monaco that would make sense would be $10 million, and you'd probably be living in a studio. Do some online searches for Monaco real estate. It's some of the most expensive in the world.

you need to take a flight to Monaco and have a look for your self. Surfing Internet and facebook is not the real life.

 

[jafo]

you need to take a flight to Monaco and have a look for your self. Surfing Internet and facebook is not the real life.

100% this!
OP, this is it. If you don't want to spend much money, stay at a hotel "outside" Monaco within walking distance or take the bus. This is the time to go...not too hot and not too cold.

 

[EliasIT]

100% this!
OP, this is it. If you don't want to spend much money, stay at a hotel "outside" Monaco within walking distance

or take the bus. This is the time to go...not too hot and not too cold.

That could work for a short term trip but for a months or two stay trip it's really expensive. Isn't there AirBnB there?

 

[diro]

After long consideration and following this thread until now, I’ve decided to catch a flight to Monaco next week and see for myself what kind of place it is. I will book some meetings with tax advisors, if such exist in Monaco, or other professionals so I can get information directly from people on the ground.

Once I’ve completed my trip, I will post what I’ve found out.

 

[jafo]

I will book some meetings with tax advisors

Only for businesses located within Monaco!
Monaco has no personal income tax filings, so personal income tax advisors are superfluous! Of course, if you are willing to pay and looking for one, you will find "thousands" in Monaco—they'll come out of the woodwork!

This means that PIT advisors in Monaco are as helpful as gynecologists at an all-male school. (OK...maybe nowadays, this isn't the best idiotic example )

Just because most people are rich here doesn't mean they, unbeknownst to them, don't have their group of scammers in their inner circle. There are relatives and friends of wealthy people here who are the worst of the worst, too. They have no purpose in life and have not excelled at anything in life, so they are just entitled thieves masquerading as "heirs"!

Take just one of way too many examples of con artists looming in Monaco for prey:

Source: Inside Wealth-Conference Con Man Anthony Ritossa’s Wild Web of Lies

I spotted this guy's game a mile away a long time ago. He KNEW I spotted his game. He stayed CLEAR of me! Never offered me anything or even came in where I was. Others in Monaco weren't so lucky!

Even the Prince, Sheikhs, HNWI, etc., and all the other so-called "expert" service advisors, wealth management advisors, tax advisors, investment bankers, lawyers, private investigators, etc.," fell for his BS. However, most profited from his scams, and that is where people's incentive lies.
@A1988 dropped this uncommon knowledge & GEM here more than a year ago: UAE is on European Commission blacklist
@A1988 share was profoundly insightful and matched precisely the evidence-based conclusions in the book: Freakonomics: A Rogue Economist Explores the Hidden Side of Everything is the debut non-fiction book by University of Chicago economist Steven Levitt and New York Times journalist Stephen J. Dubner. Published on April 12, 2005, by William Morrow, the book has been described as melding pop culture with economics.

Furthermore, for the most part, the workers in Monaco live in France or Italy. Some try to put on a happy face, but living in France or Italy and being taxed to death is not something anyone strives for. I know. I have plenty of family members who are living in France or Italy. They are NOT happy or fulfilled.

So, OP, be vigilant while in Monaco. Don't look thirsty because if you do, you will get drowned by deliberate and indeliberate fraudsters...under the ruse of "helping you."

Good luck, and if you are in doubt, holler at us.

PS. No lawyer, service provider, accountant, investment banker, etc etc will EVER disclose these landmines to you or anyone else. They earn "commissions" on EVERY event, and if a business conducts the event, it's a TAXABLE event for Monaco, so they get 30%, too!

If you speak Spanish, you'll understand this battle scream:
Paso corto, vista larga, mucha mala leche, y MUCHA, pero MUCHA mala fe!

To my Spanish-challenged friends, roughly translated, it means "Short step, long vision, a lot of malice, and a LOT, but a LOT of bad faith!"

***"If you’re not on high alert every second, these crooks in suits and ties masquerading as licensed professionals will do you worse than if you squared off with prime Mike Tyson, only to drop your guard in the middle of a brutal brawl at Madison Square Garden."

PSS. And this is the BEST Europe has to offer, so I am NOT dunking on Monaco. I am just dunking on the scammers/fraudsters and incompetents in Monaco! I live here.

PSSS. Before you ask...I don't sell services (never have) or meet EVER under ANY circumstances. My business, which can be seen in my profile, is a very labor-intensive export wholesale/distribution of tangible products to my existing clients. I do not accept any more clients.

 

[jafo]

That could work for a short term trip but for a months or two stay trip it's really expensive. Isn't there AirBnB there?

I never searched for one. I've bought my own place in Monaco since the late 90s.
I'm not even sure if it is allowed in Monaco. I really have NO idea.

 

[diro]

Ohhh, yeah I see, thank you @jafo for all your help, I have something more to work with.

 

[A1988]

Thankyou @jafo . I try my best to share useful information. Really appreciate your appreciation. Regards from Sunny Malta

 

[jesuschrist]

I was there for the Monaco Yacht Show (a friend has a yacht there), a very good place but I don't think I could live there. the French language isn't my favorite.
100 times better than Dubai imo, no desert or extreme heat, better city design, nice historical European cities nearby, Nice, Milan, lake Como, even Firenze and Rome just 1-2 fast train away.
If you like yachts and old European cities it is probably the best city to live in, but just for 0% income tax you can find cheaper places.

 

[diro]

If you like yachts and old European cities it is probably the best city to live in, but just for 0% income tax you can find cheaper places.

where would that be? I plan to take a flight to Monaco next week, only take 2 hours or so to fly.

another thing, if you don't have to file any personal income tax, how can you ever proof that you have been (not paid) tax from your legal money when you come back to your home country?