Monaco, officially known as the Principality of Monaco, is a small but highly glamorous sovereign city-state located on the French Riviera in Western Europe. It covers just 2.02 square kilometers (0.78 square miles), making it the second-smallest independent state in the world, after Vatican City. Despite its tiny size, Monaco is renowned for its opulence, breathtaking scenery, and unique character.
Monaco is famous for its tax haven status, drawing affluent individuals and businesses seeking favorable tax conditions. The absence of personal income tax has made it a magnet for the wealthy, contributing to its reputation as a playground for the rich and famous.
One of Monaco's most iconic landmarks is the Casino de Monte-Carlo, a lavish gambling complex that has been featured in numerous films. The city-state also hosts the prestigious Monaco Grand Prix, a Formula One race held on its narrow and winding streets, attracting racing enthusiasts from around the world.
Monaco's royal family, the House of Grimaldi, has ruled the principality for centuries, adding to its regal allure. The Prince's Palace perched on "The Rock" is a must-visit historical site. The city-state is also home to the Oceanographic Museum, founded by Prince Albert I, which showcases marine life and research.
Despite its reputation for extravagance, Monaco balances its modernity with a deep commitment to environmental conservation. The Prince Albert II Foundation focuses on environmental issues and sustainability, reflecting Monaco's dedication to preserving its natural beauty.
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