The Principality of Monaco is a hereditary and constitutional monarchy that lies in Southern Europe on the Mediterranean coast between the French and Italian Rivieras. 40 hectares of the land has been carefully reclaimed from the sea and runs along four kilometres of coastline. However it remains the second-smallest independent state in the world. Monaco is a playground for tourists who are attracted by the beauty of the land and the amenable climate. It is also a haven for the wealthy who are drawn by its advantageous tax regime
For more than seven centuries, the Grimaldi family has presided over the fate of the Principality of Monaco which has a population of 38,300. It borders France on three sides and borders the Mediterranean Sea on the fourth. Monaco is not a member of the European Union (EU) but participates in certain EU policies, among them customs and border controls. Economic development was propelled with the opening of the country’s first casino, Monte Carlo, in the late 19th century as well as a railway link with Paris.
It is a preferred tourist destination and the recreation centre for the wealthy, with renowned gambling establishments and fine yachting climate. The Principality has diversified its economy into the services sector and small, high-value-added, non-polluting industries. The residents pay no income tax, and the country has low business taxes; it is also renowned as a tax haven, but also has a major banking centre.
The Department of Social Welfare and Social Services in Monaco takes responsibility for all matters pertaining to social welfare and services, including emergency accommodation or housing for those in need, child protection, social disability benefits, Social Protection Units and State medical assistance. Entrepreneurs and investors are cared for in this exceptional environment through remarkable tax advantages.
Quality of life, a great living environment and a favourable investment environment are a factor of Monaco. The local police department is among the most modern and most effective in Europe, and the country’s crime rate is decidedly low.
This intriguing Principality combines a diverse range of services, combining shopping, wellbeing, food and culture. Relaxing on the many yachts is a common pastime as is spending time in the world-famous casinos. Monaco’s prime drawcard for international is probably the world’s most prestigious car race, the Monaco Grand Prix, which is an annual event held in the country’s streets. Lesser known attractions may be the Seaside façade of the Salle Garnier, Monaco’s opera house which is home of the Opéra de Monte-Carlo. It also has a symphony orchestra and a classical ballet company.
New National Museum of Monaco showcases national visual arts, but the country also has numerous other works of public art, statues, museums, and memorials. Museums include the Oceanographic Museum, Monaco Top Cars Collection and Napoleon Museum. Every year sees events, festivals and shows hosted by the Principality such as the International Circus Festival of Monte-Carlo.
Monaco Government Tourist Office is a founding member of the Wellness Tourism Association. Monaco offers a great many wellness retreats, spas, cosmetic houses and fitness centres to cater to visitors in the country.
Monaco is an associate member of the Schengen zone because of its close affiliation with France. It is also a very small, yet relatively wealthy country which depends on France to take care of its international relationships because of the close ties the two countries enjoy. As such The European Travel Information and Authorization System (ETIAS) would likely affect Monaco in the same way, it would affect France.
Any nationals subject to having to get pre-authorisation after the implementation of ETIAS will have to have the ETIAS electronic authorisation in their passport before travelling to Monaco. Following crises such as recent devastating terrorist attacks in various European countries, the European Commission proposed eliminating such risks by collecting data on would-be travellers before they leave for the European borders. ETIAS will identify possible threats to European security such as refugees fleeing from war-torn regions to escape discrimination.
By disallowing these potential risks access to Europe, illegal immigration and terrorism will be restricted within the Schengen zone.
Current Schengen Area regulations will remain, but visa-exempt nationals like Australians will have to apply online for ETIAS authorisation before travelling to Monaco. Without this electronic authorisation, Australians won’t be permitted to board an aircraft, ferry, cruise ship or train bound for Europe or Monaco per se.
Two major cultural exhibitions have strengthened links between Monaco and Australia: The “Princess Grace” exhibition in Bendigo and the “TABA NABA” exhibition hosted by the Oceanographic Museum, which comprised Aboriginal Australian artworks on the theme of “Man and the Ocean.”
ETIAS is much the same as Australia’ Electronic Travel Authorisation (ETA), and Monaco nationals would apply through ETA for authorisation before being allowed to travel to Australia. When ETIAS is in place in 2021, Australians will have to make a similar application online through ETIAS to travel to Monaco.