Monday, July 20, 2009

Monaco – The 2nd Smallest Country

The independent Mediterranean country Monaco is the second smallest country of the world. It can be said that Monaco is a bite of land taken out of France. It’s a country on a rock on the shores of the Mediterranean Sea. The Grimaldi Dynasty has been ruling over Monaco for the past 700 years or more. Monte Carlo is the capital of Monaco.

The Genoese built a fortress in1215AD where Monaco stands today. Later in the 13th Century the Grimaldi dynasty took over the control of Monaco. In 1861 Monaco became independent after giving away half of its land area to France. Monaco then became a favorite tourist spot with plush Hotels and casinos.

The residents of Monaco have one of the highest living standards in the world. Around 85% of the population is of foreign nationals. There is nothing called Income Tax in Monaco and there is a negligible amount of Business Tax.

Monaco does not have a military of its own. France takes the responsibility of security of Monaco. However, the Royal Palace Guards perform the ceremonial duties.

The Monte Carlo Casino is one of the most attractive tourist destinations of Monaco. The Monte Carlo Casino hosts the Grand Finale of the European Poker Tour, annually. Monaco is also famous for its Formula1 Grand Prix track. The famous Architect Charles Garnier designed the Casino. Charles Garnier is one of the world’s best known architects who also built the famous Paris Opera.

Monaco is considered to be a tax haven. It has liberal banking and most of the rich and famous of the world have bank accounts in Monaco banks, to avoid taxes.

A stunning fact about Monaco is its football stadium Stade Louis II. Technically, one Goal post of this football ground falls in France and the other in Monaco.

Linus Orakles
http://www.authorclub.info/

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