With the massive amount of money the f1 racers earn, a trend is going on for a very long time that these racers tend to make their houses in Monaco. But why is it so? Why are the racers from all over the world inclined towards living in Monaco? Let’s find out.
Many racers including the famous names like Lewis Hamilton, Valtteri Bottas, Alex Albon, Max Verstappen, Antonio Giovinazzi, and many more are residing there. There are definitely plenty of reasons why the racers build a residence there.
Tax Conditions in Monaco
The tax conditions are one of the main conditions why every f1 racer is heading toward Monaco. Monaco is tax heaven for the people living there as there is no demand for various tax as income tax, inheritance tax, wealth tax, or capital gains tax.
This makes it quite affordable for the people living there, so the racers often opt to make an investment here.
Near the European cities
The f1 races have a very tight schedule. With almost a race taking place in two weeks, the racers have to travel a lot. To minimize the traveling time and fatigue they prefer to live in the place where most of the races take place that is Europe itself. Moreover, the f1 headquarters are based in Europe.
The language convenience
English is a global language and f1 is a global sport. Monaco supports and acknowledges the use of the English language. This also reduces the language barrier between the drivers and the company.
Safety Concerns in Monaco
Monaco is a compact place as well as one of the most secure places to live in. A lot of CCTVs are present all over the place. Furthermore, the place has strong bank security to add in as well. Moreover, this place has the highest police-to-citizen ratio in the world which has improved as compared to the earlier years
Quality of living in Monaco
The quality of living in Monaco is quite appreciated. The place is full of hotels, clubs, and restaurants. There has to be an emphasis on vibrant nightlife in the place which makes it all the more exciting.
Weather in Monaco
The weather is pleasant all over the year. Monaco is present between the alps and the Mediterranean sea which protects it from the extreme winters as well as the extreme summers. Moreover, this place has the best weather in the whole of Europe.
Community of drivers
The drivers show interest to live in this particular place because of the community of drivers present there. With a lot of drivers living in the area, they feel safe living around people from the same profession. This helps them to evolve, learn and express their freedom as compared to the other countries.
F1 Drivers Live in Monaco
Many F1 drivers live in Monaco including Lewis Hamilton, Valtteri Bottas, Max Verstappen, Charles Leclerc, Antonio Giovinazzi, Daniel Ricciardo, Alex Albon. And also in past some of F1 drivers also lived here like Daniil Kyvat, David Coulthard
A student, content writer, and debater. Currently pursuing Btech in computer science. I have worked as an intern with Rtiverse.com as a content writer.