Prince Rainier the man who created the tax haven of Monaco on the Mediterranean had the right idea.
Being the smallest country in Europe, how else was he to get all the international cash aflowing into such a small principality?
Get the Warriors of the track to live there of course. Cash in on the formula one races’ publicity to get more attention for his little country bringing international exposure and prestige.
Critically what was done was to expand the shore line of Monaco, effectively doubling it’s size by land reclaimation from the sea. This allowed the building of more casinos, great hotels, condos and an expanded harbour for yachts large and small.
Oh, yes, perhaps the most important thing done was to create a personal banking and tax system to rival Switzerland as a tax haven. Taxation has been kept deliberately low too. All done over 50 years ago by Sovereign Charter.
The result? Notice the numbers of racing car drivers who have actually taken Monaco as their residence of choice for tax purposes and to take advantage of their private banking services.
Who can blame them? There are great medical facilities, prestigeous schools, great banks, a play ground for the wealthy and besides, the weather’s great too. All that within anywhere in Europe you care to travel to. Besides, there are more formula one races in Europe than in any other continent.
Here’s a nostalgic F1 Racing in Monaco video by Nero8.
A land to get away from it all – no joking. I would consider this place a lifestyle destination.
One of my favourite stops. Legends tell of a land that Mother Earth decided offer as a hideaway. Thus this land born in a faraway sea, young and free. It is paradise…
Well that’s the Maori legend. Look around and tour this land of two main islands, the North and South. The South Island Alps are so wild and seemingly unexplored. Actually, if you plan your itinery well, you can see most of the natural wonders these Islands have to offer.
I didn’t have time to explore every corner of this place, but I was filled with awe at the nature that remains largely intact.
Is it any wonder that the billion-dollar block buster hits of the Lord of the Rings were made here; entire on location in New Zealand. In fact, you can see the movie sets of the entire on-site filming left as they were.
In case you’re wondering, the pace of life here is slow in the city (compared to a true Metropolis like Hong Kong) and snails pace just about everywhere else.
Some locations with their ocean vistas, mountains at the back and cool breezes, on a clear day can convince you this is paradise indeed. To be sure there are a number of off-shore investors here, taking advantage of the tax haven laws here, and the peaceful life style to boot.
But will I stay here? It is not for everyone. It is not really to my taste to stay so isolated from the rest of the world business wise.
As a retirement lifestyle? I see many greying couples settling here, finding a respit from the maddening crowd and the rat race.
The epitome of the wealthy and vibrant entrepreneural society is without doubt, Hong Kong. Making money is the way of life and financial freedom is the national aspiration. Just go there and try not to get run over by the pace of life. Regardless, you’ll be bowled over by the intensity of just about everyone’s money making lifestyle – from the very young to the very old and infirm. There are probably more entrepreneurs here per square kilometer than anywhere else in the world.
Ever wondered why China much prefers Hong Kong to go their merry financial way? Just take a look at this video – it’s rather long but very well made. It really comes to the point.
If China’s symbolism is the Dragon then Hong Kong really is the Dragon’s Pearl.
This is a must visit place in the world – a tax and business haven – but be aware, mainly because of it’s very low tax and income friendly environment, there is no place to really rest up. It’s always go – go – go until you almost drop. Life is as fast paced as you have never imagined it to be. But even more so, the velocity of money and real estate is unparalelled. This is one of the world’s premier financial centres and lifestyle destinations.
Prince Rainier the man who created the tax haven of Monaco on the Mediterranean had the right idea.
