The Principality of Monaco

The Principality of Monaco Monaco is primarily a tourist destination that attracts up to 1.5 million visitors annually and is famous for its beaches and casinos, particularly the famous Monte Carlo. He lived from 1856 to board games, becoming a pioneer of the casino industry. The monarch, Prince Rainier III, bo in 1923, succeeded his grandfather, Louis II, in his death in May 1949. Rainier was married in 1956, the American actress Grace Kelly, and subsequently had three children. His son, Prince Albert Louis Pierre (b. 1958) is the heir to the throne. Immensely popular Princess Grace died on 14 September 1982, from wounds received in a car accident near Monte Carlo. He was 52. Monaco celebrates 700th Anniversary of the reign of the Grimaldi in 1997. In 2002, amended the Constitution to ensure that the Grimaldi to keep the throne even if Crown Prince Albert has no heir. On 6 April 2005, Prince Rainier, Europe longest-reigning monarch, died, and Prince Albert II succeeded him. Monaco practice of providing a refuge for French businessmen fiscal 1962 led to a dispute between the countries. A compromise was reached by which French citizens with less than five years of residence in Monaco were taxed at French rates and taxes were imposed on Monegasque companies doing more than 25% of its business outside the principality. The country was admitted to the United Nations in May 1993, making it the smallest country represented there. In July 1995, the Principality of Monaco has a permanent population of only 31,515. Monaco is in Weste Europe, bordering the Mediterranean Sea, on the southe coast of France near the border with Italy. Its climate is typically Mediterranean, with mild, wet winters and hot, dry summers. Monaco attracts tourists to its casino and pleasant climate. Monaco has tried to diversify into services and small, high value-added, nonpolluting industries. As mentioned earlier the state has no income tax and low taxes for business and thriving as a financial haven for people who have established residence and for foreign companies that have established businesses and offices. About 50% of annual revenues of Monaco from value added taxes on hotels, banks and industry, about 25% of revenue comes from tourism. The standard of living is high, which is approximately comparable to those in prosperous French metropolitan suburbs. So the next time you are in southe Europe, and has a couple of days to spare, why not visit this fascinating country and compact. Interested in this item? Try this link for more of the same