(Motorsport-Total.com) – Thirteen of the twenty-two current Formula 1 drivers live in Monaco. In addition to Monegasque Charles Leclerc, Max Verstappen, Lando Norris, Oscar Piastri, George Russell, Lewis Hamilton, Carlos Sainz, Alexander Albon, Nico Hülkenberg, Gabriel Bortoleto, Liam Lawson, Oliver Bearman, and Valtteri Bottas also have their official residence in the Principality.
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Tax advantages are considered one of the main reasons for Monaco’s popularity. However, according to the drivers, other factors also play an important role.
Leclerc, who was born and raised in Monaco, primarily calls the Principality home. “For me, there are two different Monacos,” he differentiates. “There’s Monaco during the race weekend and Monaco outside the race weekend.” He particularly values the proximity to friends and family.
More than just a residence
Another advantage for the drivers is not having to stay in a hotel during the Grand Prix weekend. “It’s great to finish the day at the track and then be able to go home,” explains Bortoleto. Hülkenberg also describes life in the Principality as particularly pleasant because it offers him the opportunity to relax at home even between individual sessions.
Verstappen, who has lived in Monaco since he was 18, also sees more than just financial advantages. “Monaco is my home,” says the four-time world champion. “I really enjoy living here. It’s very safe, the people are friendly, and it’s a great place for children. The fact that there’s also a Grand Prix here is really just a bonus.”
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Indeed, Monaco is considered one of the safest places in the world and at the same time offers wealthy residents a high degree of privacy. Added to this are its central location on the Cote d’Azur and the spectacular landscape. Monaco also has its own helipad, providing good connections to Nice Airport, and boasts more than 300 sunny days a year.
Tax advantages remain a factor nonetheless
Nevertheless, the tax issue remains an important factor. Anyone wishing to settle in Monaco must demonstrate significant financial means and spend most of the year in the Principality. In return, no income tax is levied.
Norris previously admitted that this played a role in his decision to move to Monaco: “For reasons you can probably expect. Many drivers do that.”
It is striking that some well-known names are not on Monaco’s resident list. French drivers are an exception. Pierre Gasly and Isack Hadjar live in Italy, Esteban Ocon in Switzerland. The background to this is French tax regulations, which significantly reduce the financial benefits of residing in Monaco for French citizens.
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