The luxury reasons that F1 drivers live in Monaco
The principality 💯is home to nine of the current 20 drivers on the 2023 grid:
- Lewis Hamilton
- Max Verstappen
- Charles Leclerc
- Lando Norris
- Valtteri Bottas
- Sergio Perez
- Nico Hulkenberg
- Nyck de Vries
- Alex Albon
There is no incom♏e tax, no wealth tax, no local tax, no property tax, and no caဣpital gains tax in Monaco according to , the sports and business expert.
A third of the population of Monaco are millionaires, ther🐎e are 1꧋2,000 in total, he reports.
It means that F1 drivers will not be surrounded by a💧doring fans when ꧃they venture outside.
The Monaco government requires written permission﷽ for all professional photography which minimises the paparazzi to pester the millionaires.
To apply for residency in Monaco, you must dep🍒osit $535,000 in a local bank, where it remains until your residency ends. So not just any Joe Bloggs can move to Monaco!
Monaco is 15𒉰 miles from Nice airport - handy, if your day-job is to travel the world.
The weather and sea views are also incredible, obvio♈us⛎ly.
James was a sports journalist at Sky Sports for a decade covering ever♚ything from American s༒ports, to football, to F1.
