Welcome to Monaco
"a positivity haven"
Monaco is keen to shed its reputation for being a tax haven and a ‘sunny place for shady people’, and understandably so, because both are fundamentally wrong. True, there’s no personal income tax but company tax is higher than in many EU countries. Also the conditions for gaining the coveted residency card are very strict. Would-be residents of Monaco must prove they are financially able to support themselves and won’t be a drain on the state and most certainly don’t have a criminal record!