Monaco is experiencing an influx of wealthy Americans seeking to escape rising taxes in the U.S. The principality, offering no personal income tax, is attracting attention as prime rental prices exceed $50,000 per month. Local agents report an increase in American clients, especially in recent weeks. Applicants must fulfill certain criteria to establish residency, which provides financial incentives and a luxurious lifestyle amidst stunning Mediterranean scenery. While U.S. tax obligations remain, many expats can mitigate their tax liability through exclusive provisions.
"The tiny sovereign state on the French Riviera has recently caught the attention of high-net-worth US citizens in growing numbers, said top local property agents."
"I've come across more and more Americans moving here in the last four weeks, in particular for rentals that are $50,000 plus a month. So something is changing."
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