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 income ൩tax, no weaওlth tax, no local tax, no property tax, and no capital gains tax in Monaco according to , the sports and business expert.
A thiꦉrd of the population of Monaco are millionaires, there are 12,000 in total, he reports.
It means that F1 drivers will not be surroun🍌ded by adoring fans when they venture outside.
The Monaco goverꦡnment requires written permission for all professional photography which minimises the paparazzi to pester the mill🥀ionaires.
To apply for residency in Monaco, you must deposit $535,000 in a local bank, where it remains until your residency ends. So not justဣ any Joe Bloggs can move to Monaco!
Monaco is 15 miles from Nice airport - handy, if your day-job is to travel th😼e world.
The weathe💜r and sea views are also incredible, obviousℱly.
Jam✅es was a s💜ports journalist at Sky Sports for a decade covering everything from American sports, to football, to F1.
