The Smart Choice for the 21st Century

The heart of global economy | The business side of MonacoThe advantages

The heart of global economy

The Principality was already meeting the challenges of the early 20th century when Picasso, Matisse, Puccini and Berlioz made Monaco one of Europe’s most exciting cultural centers.

Not only does Monaco offer a high standard of living but an atmosphere conducive to work. It has thus become a hub for business development in the Mediterranean.

Today, the world’s second smallest country, less than one square mile in size, is prepared to play an important role in world affairs, as a vital nerve center in the rapidly expanding global economy.

Monaco’s Salle Garnier, the dazzling opera house, plays host to the world’s outstanding artists, and yachts from around the world glide into the Port of Hercules, the Principality’s glamorous harbor. But there is another Monaco as well. Within the gleaming towers that stand on cliffs and cleverly reclaimed land, are more than 100 industries, a multitude of international banks and financial management and investment firms. There are companies engaged in global trade and shipping, and some of the world’s most creative researchers in high technology fields, biotechnology and environmental industries.

What brings them all to Monaco? A strategic location, with easy access to major cities; instant global access to state-of-the-art telecommunications; banking and other business services to name a few. As important, Monaco offers Europe’s finest quality of life in a virtually crime-free environment; and a sovereign government that welcomes, even encourages, foreign business.

In short, if your interests are in clean industry, research and development, banking, finance or other services, trade, shipping or the marine environment, Monaco is the smart choice for your business location in the 21st century.

A warm welcome

Monaco’s dynamic private sector – 45% services, 21% industries and construction – is no accident. The Grimaldi family, who has ruled Monaco for over 700 years, has guaranteed the institutional stability necessary for the transformation of Monaco into a vital center of international business and trade. As a constitutional monarch with real powers, H.S.H. Prince Rainier III has personally guided the Principality’s sizeable expansion – by utilizing every available inch of mountainside and reclaiming land from the Mediterranean Sea – and stature by attracting foreign investments and business. On His initiative, Monaco’s “Direction de l’Expansion Economique” has been charged with welcoming and assisting all companies and individuals wishing to do business in the Principality.

The business side of Monaco

The result of H.S.H. Prince Rainier’s bold leadership is an extremely diverse and prosperous Monégasque economy.

Today, more than 100 industries are based in Monaco, ranging from the manufacture of plastic and automobile parts, shipped all over the world, to pharmaceuticals, cosmetics and the production of electronics for telecommunications and aerospace industries.

Monaco supports high tech research and development in such fields as: aquaculture and marine biology; marine environment; biotechnology (pharmacology, chemistry, food); civil engineering, particularly techniques for land reclamation.

Monaco Telecom, offering state-of-the-art systems, provides essential telecommunication services to residents and international businesses located in Monaco. It also serves new companies engaged in telecommunication activities through a joint venture created for that purpose: GTS Monaco Access.

This joint venture provides voice, fax, data and internet services to new telecommunications operators using Monaco as an international gateway. GTS Monaco Access specifically addresses the new opportunities created by European deregulation in telecommunications.

Bankers, financial and investment consultants, lawyers, accountants, real estate agents and management consultants are among the members of the rapidly growing service industries.

Over 150 companies are involved in international shipping and transportation. More than 1,100 stores, boutiques and shopping centers have earned Monaco a worldwide reputation for commerce and trade.

Some of Europe’s oldest and most elegant hotels, with the most up-to-date meeting and sport facilities, as well as internationally renowned events such as the Monaco Formula 1 Grand Prix, have helped make tourism a vitally important sector of the economy.

The advantages

Few urban areas in the world offer the competitive, cultural and lifestyle advantages that make Monaco the ideal choice for a business location.

A geographically strategic position, next to southern Mediterranean markets, two hours away from major European cities.

An international economic environment:

– Dynamic, internationally oriented CEOs

– International competence in professions such as banking, law, etc.

Straightforward, advantageous fiscal system, for both individuals and companies.

Easily accessible administration.

Great security for both assets and people.

Excellent infrastructures for free movement of goods and people.

Exceptional political and social stability.

A first rate educational system available to all, with international students providing qualified labor adapted to current needs.

Exceptional quality of life, in harmony with the environment.

A particularly attractive cultural and recreational context.

An incomparable quality of life

While the Principality’s competitive business advantages are great, when all is said and done, it may be Monaco’s remarkable quality of life, which combines comforts, luxuries and unparalleled opportunities, that distinguishes it as an ideal place to work and live.

One of the safest places on earth, Monaco is protected by one of the most gracious as well as efficient police forces in Europe. And, favored by the famous mild climate of the Riviera, walking at any time of year is a delight.

One of the cleanest countries in the world, Monaco is a global leader in respect of the environment, having worked for decades to protect the Mediterranean and other bodies of water.

Monaco, exceptionally rich in artistic and cultural activities with its own orchestra, ballet and opera, provides a stage for the world’s most famous performers almost year-round. Festivals abound, ranging from the Monte-Carlo Spring Arts Festival to the Monte-Carlo Television Festival and Market, to the Monte-Carlo International Circus Festival.

Highlighting a yearly sports calendar that attracts competitors and spectators from every continent are the famous Monaco Formula 1 Grand Prix, the Monte-Carlo International Tennis Championships, and a myriad of sailing and boating competitions.

The luxurious Les Thermes Marins de Monte-Carlo, with its extensive range of pampering spa treatments and elegant facilities overlooking the Mediterranean, reflects Monaco’s timeless appreciation of the finest things in life, including the rejuvenation of body and soul. This one-of-a-kind spa, in keeping with the Principality’s close connections to the sea, offers everything from seaweed treatments to balneotherapy to sea mud baths as well as dozens of other body and beauty care services, personalized nutrition counseling and other health programs.

Some of the finest restaurants in Europe, as well as some of the most exciting clubs and nightspots, round out a cultural and social lifestyle that continues to make Monaco the envy of cities many times its size.