| Decades after becoming Europe's number one tax | | | | information gathering in Monaco as the start of a |
| haven, Monaco is to start collating and publishing | | | | process to join the EU. |
| figures showing it's GDP for the first time. | | | | 'This is highly unlikely,' contend YourMonaco.com, |
| , who produce an independent travel guide for | | | | 'There are influential figures in the EU who have |
| Monaco and Monte Carlo, say that those who are | | | | been pushing for tax harmonisation across EU |
| considering moving to Monaco because of her | | | | countries for some time now, and while it is |
| zero income tax policy have nothing to worry | | | | unlikely to happen as Britian would veto any move |
| about. | | | | towards this, it would kill the goose that lays the |
| 'This is much more about Prince Albert pushing | | | | golden egg for Monaco, and far from leading |
| ahead with his agenda on the environment and | | | | Monaco to the world stage on important issues |
| world affairs than it is Monaco's tax policy', they | | | | like the environment and the Third World, it would |
| claim. | | | | lead Monaco to being little more than a European |
| Prince Albert became ruler of Monaco just over a | | | | backwater with the Grand Prix and casino as her |
| year ago, after the passing of his father Prince | | | | main attractions'. |
| Rainier, who transformed the Principality into the | | | | Due to her tax status property prices in Monaco |
| world's best known tax haven in the fifty years | | | | are among the highest in the world. |
| he was in charge. | | | | Typical of Monaco real estate prices are a one |
| 'Prince Albert is much more interested in world | | | | bedroom apartment without views of the |
| affairs as he knows the future of Monaco as a | | | | Mediterranean at 880,000 Euros – after |
| tax haven is safe', Henri Boulanger, YourMonaco's | | | | closing costs nearer to a million – 1,950,000 |
| spokesman, adds. 'The last year has seen him | | | | Euros for a two bedroom apartment, and expect |
| going to the North Pole to try to show other | | | | to pay between three and four million Euros for a |
| world leaders that the environment is one of the | | | | good three bedroom apartment with sea views |
| top issues they should be addressing, and the | | | | and parking space. |
| publishing of Monaco's GDP and Gross National | | | | Buyers from the UK have increased significantly in |
| Income statistics will allow him to have Monaco | | | | the last couple of years, and demand from them |
| play a full and active role at the United Nations. | | | | has helped push property price inflation to close to |
| For example Monaco will know how much they | | | | ten per cent a year. |
| should be contributing to the United Nations | | | | For the future, YourMonaco predict that prices will |
| Millennium for Development project, and other | | | | continue to rise for the short and medium term, |
| overseas projects'. | | | | but are keen to state that real estate, like any |
| Recognising that collecting financial information | | | | other commodity, can dip in value on occasion as |
| could put off wealthy individuals moving to | | | | well as rise. |
| Monaco, the government has told those | | | | Aside from the obvious tax advantages Monaco |
| businessmen taking part that all information will be | | | | residents enjoy, the Monaco Grand Prix in May |
| kept confidential, and will not be used for fiscal | | | | draws ten of thousands of tourists to the |
| purposes. | | | | Principality at the end of May on an annual basis, |
| Monaco and The EU | | | | while the Monaco Yacht Show in September is an |
| Political analysts might see the beginning of | | | | increasingly popular event. |