21 Secrets About Living In Monaco To Know Before Moving

Monaco truly is an ideal location to settle down in. It’s safe and beautiful, and did we mention classy and luxurious? Living in Monaco ticks boxes for many with the standard of living and way of life there.

It doesn’t just have to be for royalty, you know?

But what else do you need to know before packing your bags for Monaco? Let us share 21 secrets about life in this beautiful principality:

Sections

1. English is commonly used

The official language in Monaco is French. They also speak Italian, and English is widely spoken. Many people speak English due to the high number of people from Canada, Britain, and America. Many road signs and menus at restaurants also use English.

2. Monaco offers a high quality of life

The principality of Monaco is a small and independent state. Aside from luxury cars and hotels, Monaco is governed by a monarchy that ensures that the country is well kept—creating a wonderful country to live in.

From health and safety to education and leisure, every aspect of life in Monaco is terrific. Did you know the Prince of Monaco ensures that every Monaco resident has a job?

3. The costs of living in Monaco

Monaco residents are generally wealthy people. It’s a glamorous country, what did you expect? At the Hotel de Paris, a night in the Princess Grace Suite can cost around $43,000. And that’s just for one night!

The cost of living there is about 60% higher than what it is to live in the US (crazy, I know.)

But hold your horses.

It is possible to live a middle-class, everyday life in Monaco. Real estate is one of the most significant expenses as there is a big demand and very little space.

Why not rent a place? Avoid Monte Carlo if you’re trying to save, as this is the prime location, and you’ll pay the price. Utilities, eating out, and transport isn’t cheap, but they are more affordable than in other countries.

4. Taxes in Monaco

The cost of living may have panicked you a bit, but Monaco is a tax haven since there is no direct taxation when it comes to tax. Business taxes are low, and salaries are tax-free, so say goodbye to income tax. The no income tax makes Monaco an attractive lifestyle for business people!

However, they have an inheritance tax, value-added tax, real estate tax, and social insurance tax.

5. Monaco is considered one of the safest countries in the world

Monaco has the most policemen out of any other country. There is one policeman for every 100 or so residents. And the town is monitored by a surveillance system 24/7, and an armed national police force provides the country with security. Their crime rates are much lower than any other European country. Still, be vigilant, it is incredibly safe, but things can happen.

6. Tipping is not mandatory

Most restaurants and hotels already add a service charge to your cheque, and the staff and servers are very laid back. However, a tip will be appreciated. And it is recommended that you tip valets and porters to thank them for their help.

7. Abide by the dress code

Monaco is high-class and glamorous, and it is vital to stick to the dress code. Especially when going to the Monte Carlo casino, proper attire is required, so think evening wear and heels. The casino will turn you away if you are not dressed appropriately.

The look around the city is casual yet elegant. Unless you’re heading to the opera, somewhere fancy, or the casino, there is no dress code. If you wear swimwear out in the town, you’ll be fined by the police. So remember, swimwear on the beach, not on the streets!

8. Monaco enjoys a temperate Mediterranean climate

Living in Monaco is a summer lover’s dream. It has a mild and sunny Mediterranean climate, and you can expect an average temperature to reach 86°F in the summer.

They also have about 3000 hours of sun in a year. Their summers are hot and dry, while the winters are wet and mild. So there is loads of time to go and soak up the sun, visit Monaco Ville, Monte Carlo and swim in the crystal waters.

9. Getting around in Monaco

Walking is one of the best ways to get around and explore Monaco. You can walk across it in almost under an hour! The government has ensured that there are loads of pedestrian facilities around the country and in all major cities. You can also travel by bus; the network connects all museums, gardens, attractions, etc.

There’s even a water taxi. You can easily travel from the casino to Monaco-Ville, which operates the whole year. There are also 24-hour taxi services for longer trips.

10. Don’t call the locals French

Many foreign nationals confuse France and Monaco, which is a big no-no. Yes, the locals speak French, but they also have their language, Monégasque, as they are their own independent country. They get very offended if you call them French; they pride their nationality and culture and identify as Monégasques.

11. Monégasque culture and traditions

Italy, Spain, and France influence their culture, and their official religion there is Roman Catholicism. They value family gatherings and events and have great respect for privacy. They are also known for their grand events and festivals. They hold the Monaco Grand Prix and have the most challenging track for Formula 1.

Their art scene is significant. They have The Monte Carlo Philharmonic Orchestra and tons of theaters. They also have the traditional July Carnival and The International Circus Festival of Monte Carlo.

12. The education system in Monaco

Their primary education is compulsory and is free for all Monaco nationals. The schools have an international focus, and they follow a French curriculum. Most of the schools teach in French. Most expats prefer sending their children to international schools; they are up to standard and teach the same curriculum as other international schools.

You can look at the International School in Monaco (ISM), students will learn French and English. However, the fees at this school can be very high, but you’ll be assured that your child is getting a top-quality education. Monaco has one university, and the fees vary according to the chosen program.

13. The majority of people who work in Monaco don’t live there

More than 5,800 Italians and 30,000 French nationals commute to Monaco daily for work. This is because the salaries are better, the retirement plans are good, and they have an excellent social security system.

Payroll expenses are also less than in France. People who work in Monaco get the same benefits as citizens do. I would be happy to go to work if it was in this luxury paradise!

14. Gambling is not permitted for residents

Monaco is one of the most popular gambling destinations, but the residents of Monaco are not allowed into any of the casinos unless they legally work at them. The royal family does not want the people to gamble and lose all of their money for moral reasons. They check passports at each casino entrance, as the casinos are meant for foreigners.

If those in Monaco want to gamble, they have to do it online!

15. Monaco has the world’s highest average life expectancy

The people of Monaco have a life expectancy of about 89.5. This may be because it is one of the wealthiest principalities, and everyone there lives a prosperous life. The main reason is the food and their Mediterranean diet, they eat a lot of vegetables and fruits, and since they are so close to the sea, they eat a lot of fish.

Monaco has one of the healthiest diets, and its healthcare system is impressive, so all citizens receive good health services, which improves their overall health and life expectancy.

16. Visas and permits

To become a resident in Monaco, you need to be over the age of 16. The requirements will depend on your nationality. You need to prove that you have accommodation and enough finances to move to Monaco. You’ll need to submit a criminal record, all of the requirements are relatively simple, so it is not too difficult to become a resident.

You can live in Monaco for as long as you’d like once you’re approved for a residence permit. You cannot work in Monaco without a work permit. You will need to provide a contract, residence permit, identification, and an annual medical exam is necessary.

Moving is stressful, and there’s a lot to plan. Luckily MoverDB.com can help with the basics and getting your belongings there.

17. The healthcare system in Monaco

The healthcare system in Monaco is fantastic. They also highlight the importance of health education in schools to promote good quality lifestyles. All citizens and residents need to contribute to the CSM Caisses Sociales de Monacoto get public health care. People make payments to benefit from healthcare and receive a card giving them access to care.

The healthcare system covers specialist treatments, inpatient and outpatient care, childbirth, pregnancy, prescribed medications, and rehabilitation. There is also private healthcare, and it is highly recommended to get health insurance as an expat.

18. Monaco does not have airports

Monaco is mainly connected to other countries by railways, cars, and harbor.

The closest airport is the Côte d’Azur airport in Nice, France.

However, Monaco does have a heliport!

19. Monégasque cuisine

The cuisine has Mediterranean influences and is a mix of Italian and French.

Seafood is a favorite, and many of their dishes contain fresh tomatoes, olive oil, black olives, anchovies, and garlic.

One specialty dish is barbajuan; it is a fried or baked pastry with ricotta, leeks, herbs, swiss chard, and garlic. They also have pissaladière, a French dish from Nice which consists of a pastry tart garnished with onions, olives, and anchovies.

20. Housing in Monaco

There are no legal barriers. Foreigners can buy a property and rent a property. It all comes down to if you can afford it. You will need to provide your employment contract, bank statements, and proof of earnings to get a house. If you want to become a resident, buying or renting a property is vital.

21. Most of Monaco’s residents are foreign-born

Residents in Monaco are from all over the world. More than 75% of them are from other countries. Most residents are French citizens, British, and Italian. This is likely because of the opportunities and excellent living standards in Monaco. And many millionaires from all over the world move there for the lavish lifestyle.

FAQs

Is Monaco a member of the European Union?

No, it is not. Monaco is a small and independent country. They do participate in some EU policies as their relation with them is conducted through the land of France, but they are not a direct member.

Where is Monaco located?

It is located in Western Europe on the french riviera. It is bordered by the Mediterranean sea and France’s Alpes-Maritimes département.

Can a foreigner open a bank account in Monaco?

Yes, a foreigner can, but you will need to keep a minimum balance of a substantial amount in the account to keep it open. All you need to open an account is proof of identity.

When was the Prince’s Palace of Monaco built?

It was initially built as a Genoese fortress in 1191. And it was built as the Prince’s palace in 1215.

Is Saint Michel part of Monte Carlo?

Saint Michel is part of the traditional Quartier and is a northern-central residential area.

Final Thoughts

Monaco living sounds like a life of glamour. If you have the means to do so, I wouldn’t even hesitate to make a move.

The standard of living is fantastic, the opportunities are great, and the working conditions are incredible. Change doesn’t always have to be wrong, and moving here will undoubtedly be the right move!