ONE OF THE PLACES I PLAN TO LIVE IN MY LIFETIME...MONOCO

Monaco is the name of the country and its capital (and only) city. It is famous as a tax haven, and wealthy foreigners make up the majority of the population at approximately 84%.

Monaco is a constitutional monarchy and principality, with Prince Albert II as the head of state. The House of Grimaldi has ruled Monaco since 1297, and the state's sovereignty was officially recognized by the Franco-Monegasque Treaty of 1861. Despite Monaco being independent, its national defence is the responsibility of France.  Monaco levies no income tax on individuals. The absence of a personal income tax in the principality has attracted to it a considerable number of wealthy "tax refugee" residents from European countries who derive the majority of their income from activity outside Monaco; celebrities such as Formula One drivers attract most of the attention, but the vast majority of them are less well-known business people