MONACO
Location:
Monaco is located in western Europe, bordering the Mediterranean Sea, in southern
France near the border with Italy.
Population:
31,278 (July, 1994 estimate)
Languages:
French (official), English, Italian, Monegasque
Government:
Monaco's government is a constitutional monarchy.
Legal System:
Monaco's legal system is based on French law. It has not accepted compulsory ICJ
jurisdiction.
Telecommunications:
Monaco is served by cable into the French communications system. It has no
communication satellite earth stations.
Economy:
Monaco, situated on the French Mediterranean coast, is a popular resort, attracting
tourists to its casino and pleasant climate. The Principality has successfully sought to
diversify into services and small, high-value-added, nonpolluting industries. The state
has no income tax and low business taxes and thrives as a tax haven both for individuals
who have established residence and for foreign companies that have set up businesses
and offices. About 50% of Monaco's annual revenue comes from value-added taxes on
hotels, banks and the industrial sector. About 25% of revenue comes from tourism.
Living standards are high, roughly comparable to those in prosperous French
metropolitan suburbs.
Industries:
Monaco's main industries are tourism and financial services.
Currency:
1 French franc (F) = 100 centimes
Exchange Rates:
French francs (F) per US$1 - 5.9205 (January, 1994)
Related sites:
Hotels And Resorts In Monaco
Monaco Guide
Monaco Home Page
To the Offshore World home page.
To the Offshore Financial Centres page.