Expatriate Insurance News: Monaco 'offers advantages' to wealthy expats
New favourable tax and property laws in Monaco are set to make the principality a popular investment opportunity for wealthy expatriates.
The Daily Telegraph reports registration tax on sales in Monaco has been reduced to 4.5 per cent, while those who purchase property to rent out will not have to pay tax on their rental income.
Director of French Private Finance John Busby told the news source interest in the destination has been rising following "an exceptionally quiet last quarter of 2011".
The Riviera remains popular with expat insurance policyholders as expats have the ability to "easily country-hop" to countries like Monaco and Italy.
Monaco's attractiveness has been boosted by tighter property rules in France, where fiscal laws regarding owning property through a trust were made more restrictive last month.
Relocating abroad can be a tricky process and editor of Aplaceinthesun.com Liz Rowlinson has urged people to seek expert advice before making a purchase.
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