Monte Carlo officially refers to an administrative area of the Principality of Monaco. Monaco is split into several neighbourhoods, Monte Carlo being one of them. The Principality is nestled between the Alps and the Mediterranean Sea, bounded by the French Riviera to the west and the Italian Riviera to the east and is the second smallest country in the world.
Famed for its lavish lifestyle of yachts, casinos and celebrities, Monte Carlo/Monaco also has an extremely thriving banking and finance economy. Although tourism plays a huge part in its economy, there are more than 60 banking and financial institutions operating in Monaco, and the banking and finance sector experiences strong and steady growth that is driven by private banking.
Although Monaco has no income-tax, all residents pay tax in the form of VAT on all goods and services. With great summers and milder winters, a fantastic social life, great network links this is a very popular location for expats.