Monaco is a sovereign citystate, country and microstate on the French Riviera in Western Europe. France borders the country on three sides while the other side borders the Mediterranean Sea. With a population of 38,400 inhabitants, Monaco is the second-smallest and most densely populated sovereign state in the world.
Since the country’s first casino was opened in the 19th century, Monaco has become a famous tourist destination and recreation center for the ultra rich and famous. In recent years, it has also become a major banking center with no income tax, low business taxes and is well known as a tax haven.
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