The luxury reasons that F1 drivers live in Monaco

There are several very good reasons why so many F1 drivers choose to live in Monaco.
An aerial view of Monte Carlo. Formula 1 World Championship, Rd 7, Monaco Grand Prix, Monte Carlo, Monaco, Race Day. -
An aerial view of Monte Carlo. Formula 1 World Championship, Rd 7, Monaco Grand Prix, Monte…

The principality is home to nine of the current 20ꦇ 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 income tax, no wealth tax, no local tax, no property tax, and no capital gains tax in Monaco according to , the sports and business exꦇpert.

A third✱ of the population of Monaco are millionaires, there are 12,000 in total, he reports.

It means that F1 drivers will not be surrounde▨d by adoring fans when💫 they venture outside.

Boats in the scenic Monaco Harbour. Formula 1 World Championship, Rd 7, Monaco Grand Prix, Monte Carlo, Monaco, Race
Boats in the scenic Monaco Harbour. Formula 1 World Championship, Rd 7, Monaco Grand Prix,…

The Monaco government requires written permission for all professional photography which🐷 minimises🔥 the paparazzi to pester the millionaires.

To apply for residency in Monacoඣ, you must deposit $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 15 miles from Nice airp🍬ort - handy, if your day-job is to travel the world.

The 🔯weathꦫer and sea views are also incredible, obviously.

James was a sports journalist at Sky Sports for a decad🎶e covering everything from American sports, tܫo football, to F1.

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