A stable and prestigious environment
The Principality of Monaco, which has been under the reign of the House of Grimaldi for more than 700 years, is a sovereign state with a stable and independent government. Located in the heart of Europe, and very easy to get to, in Monaco, the quality of life is a particular priority, with its pleasant geographic setting, gentle climate, secure environment for both people and property, wide array of cultural and sporting events and moderate taxation. Another advantage is its multi-cultural aspect: 35,000 residents representing more than 119 nationalities, including 8,000 Monegasque citizens, share the country's 2 square kilometres!
An innovative economy
"Made in Monaco" is a network of 5,000 companies active in many sectors including international trade, banking and financial services, tourism and hotels, retail, construction and real estate, just to name a few. In professional terms, establishing a presence in Monaco means joining a vibrant economy with a workforce of more than 48,000 people and a thoroughly international outlook. Industrial activity is expanding to include more and more activities that create value without polluting the environment or taking up too much space. The development and completion of innovative infrastructure projects is the result of on-going innovation.
An active banking sector
In 2010, the performance of the banking sector remains satisfactory in a difficult global environment. After three years of sustained growth, CFM Monaco remains committed to development. However, caution is still on the agenda until market confidence returns. Deposits and assets under management reached EUR 78 billion. Outstanding loans were sustained, totalling EUR 10 billion.
The regulations in Monaco that apply to banking establishments are strict and comparable to European rules whether it comes to prudential operating regulations, investor protection rules, anti-money laundering measures or international cooperation with the main tenets of the GAFI framework.
Source: "AMAF Моnaco"