BUSINESS IN MONACO

From the geographical point of view both sublime and inauspicious conditions join in Monaco.

On the one hand, there is the inconvenience of a very restrained area and that of inexistent natural resources. On the other hand, there are the benefits deriving from the geographical position of the Principality: a very sunny location throughout the year, a pleasant climate together with the favorable setting at the crossroads of the Southern Mediterranean markets, very close to major European cities.

All these together with a strategic guidance turned Monaco into the great place for business particularly in the touristic field, services and banking. The industries that developed were therefore small, non-polluting ones.

In its main lines and particularly in fiscal matters, the Principality’s policy is to favor local businesses’ flourishing and especially to attract rich people. To optimize this process, the enhanced safety background was a compulsory requirement. Hence the strong development of a high-performing and reliable banking system and luxury tourism. The state is also renowned for its political and social stability conferring a favorable and attractive environment for businesspeople.