Ultra-rich businessmen are using a tax loophole that allows them to work in Britain for most of the week while living in Monaco, to claim non-resident tax status for themselves and their families. An English investigation of more than 650 directors of UK-registered companies who say they are living in Monaco reveals that the tax haven is seeing a tide of new wealth flow in, as hedge fund and internet millionaires (more…)
Monaco’s rules from the steamship age allow UK entrepreneurs to enjoy financial advantages of the Riviera. A new generation of Britain’s super-rich is moving to the Riviera to avoid the Inland Revenue, largely thanks to tax loopholes which allow them to commute to work from Monaco. Such well-known residents as the recently-knighted retailer Philip Green and the Easyjet founder Stelios Haji-Ioannou have been (more…)
Monaco-based banks posted double-digit growth in assets under management in 2005, reflecting net new money and healthy financial markets. At year-end 2005, due to the determination of Prince Albert to foster growth in banking and to the shared commitment of the banks and the government of Monaco to applying increasingly strict standards against money laundering, the 41 banks and 25 asset (more…)
As for projects and investments, SBM plans a significant undertaking: a high-class hotel residence on the site of the Balmoral Hotel, acquired in November 2004. Work will commence at the end of 2006. Furthermore, the Café de Paris gaming room will be renovated.
As for the initiative, the group is to launch an original initiative that will (more…)
La Société des Bains de Mer Resort (SBM Monte-Carlo) was established in 1863 by Prince Charles III of Monaco. Today, the SBM is the Premier Luxury Hotel & Resort Group offering the very best of Monaco. Conveniently located in the very heart of Monte-Carlo, at 15 miles from Nice International Airport and with 310 days of sunshine a year, the resort is ideally suited for all your forthcoming conferences and (more…)
The Annual Shareholders Meeting of the Compagnie Monégasque de Banque (CMB) took place on April 7th, 2006. The Shareholders approved the balance sheet as at December 31, 2005 and the income statement for the year then ended. The shareholders having noted that the mandate of all Directors is due to expire at this Meeting re-elected the following persons as Directors for a three-year term: Mr. (more…)
From 28th June, companies in the Principality of Monaco will be receiving a questionnaire at the initiative of the Monegasque Government. On Wednesday 27th June, the Government Counsellor for Economy and Finance, Franck Biancheri, announced to companies the launch of a large scale statistical survey with the aim of determining the Principality’s Gross Domestic Product as well as the Gross National (more…)
9-11 October 2006, Monte-Carlo, Monaco: The eleventh anniversary symposium on high-performance investing.Leading Hedge Fund Managers & Investors will convene at that Symposium. The high-level discussions will focus on specific investment strategies and the impact of current economic conditions on success in the Alternative Investments arena. (more…)
Operational in the Principality since beginning 2006. Well-known by banking and financial establishments of Monaco, IntellEval distinguishes itself by its expertise on anti-money laundering and compliance in major European financial centers.
On Thursday 9 March 2006, in London in the Ritz Hotel, His Serene Highness Prince Albert II of Monaco chaired a presentation of the Principality’s economy organized by the Monaco Government and the Monaco Bankers Association, to an audience of some fifty personalities from the worlds of business and finance. The aim of this operation was to present and promote, in London, the reality of Monaco as a financial (more…)