Investment-Based Monaco Residency: A Comprehensive Walkthrough
In the world of high-end living and tax advantages, two destinations stand out: Monaco and Malaysia's MM2H Program. Both offer unique benefits for wealthy expats seeking a liveable, zero-tax country.
Monaco, a city-state and principality nestled between the French and Italian Rivieras, is renowned for its glitz, glamour, fast cars, and world-class casinos. The zero-income tax regime is a major draw for many, especially the numerous millionaires who reside there. Residents can also benefit from no wealth, property, capital gains, or local taxes, making it an attractive destination for the affluent.
Monaco's residency-by-investment program offers visa-free travel across Europe's Schengen area, but it does not offer a traditional 'golden visa' program like that offered by Portugal or Cyprus. To qualify, applicants must show proof of sufficient funds, provide a clear criminal record, and prove accommodation in Monaco.
On the other hand, the Malaysia MM2H Program offers a luxurious lifestyle for a fraction of the cost in Monaco. To qualify, you must be at least 25 years old, make a fixed-term deposit of US$150,000, purchase a property for a minimum of RM600,000 (about US$135,000), and stay in Malaysia for at least 90 days per year. The program offers lower taxes, excellent real estate, and a chance to immerse in the rich culture and history of Malaysia.
Malta, another European destination, offers the Global Residence Program. To qualify, you must own or rent property in Malta and not be a Maltese or EU/EEA/Swiss national. The program offers significant tax benefits, including no tax on foreign-sourced income unless it's remitted, which is then taxed at 15%.
It's important to note that French citizens living in Monaco do not benefit from the exemption of personal income tax, dividends, capital gains, or property tax due to a tax treaty. However, French citizens born in Monaco are exempt from this treaty and can take full advantage of the tax benefits in Monaco.
Monaco is among the safest countries globally, equipped with advanced security and a visible police presence. In contrast, the Malaysia MM2H Program offers longer-term options with higher investment thresholds.
Both Monaco and the Malaysia MM2H Program offer appealing luxury lifestyles. Monaco boasts gourmet cuisine, a luxury marina, and beautiful homes, while the Malaysia MM2H Program offers a chance to experience the rich culture and history of Malaysia.
In conclusion, both Monaco and the Malaysia MM2H Program provide unique opportunities for wealthy expats seeking a liveable, zero-tax country. The choice between the two depends on personal preferences, lifestyle, and investment capabilities.
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