Best International Schools in Monaco for Expats – that will be the topic of today’s article.
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With that being said, Monaco is a playground of the rich and famous classic Hollywood glamour. The country offers excellent pleasure to the enterprising expat, from the casinos of Monte Carlo to the fascinating Jardin Exotique. Not only for that, but perhaps living in Monaco is like a party every day.
The citizens can also save a lot of money on assets and income tax, among other things. Also, due to a tradition of settlement with neighboring France, customs duties and VAT apply in Monaco. Besides, Monaco is an energetic country where many worldwide meetings, shows, and presentations are held.
However, we have compiled this article to explain some of the things you need to know about Monaco. In addition, we will walk you through the best international schools in Monaco for expats, the pros and cons of relocating to Monaco, exciting facts about this country, and many others, to mention a few.
10 Reasons for Choosing Monaco
Whether you’re an expat or a locals that want the best in Monaco, it’s high time that you check the reasons for relocating to this country. Undoubtedly, Monaco frequently tops lists as one of the best places in the world to live. So, if you already have a friend living in Monaco, you probably know why.
1. Tax Haven Country for Students
One of the main reasons why many wealthy people decide to move to this country is the tax reduction. To be a resident in Monaco means no tax on worldwide income, along with other tax benefits. So, you can save and enjoy different outdoor activities in Monaco’s significant cities.
2. Culture and Lifestyle
If you choose to live or study in Monaco, you’ll definitely enjoy a Mediterranean lifestyle with a rich culture. On the flip side, you should expect about 300 days of sun, a beautiful ocean at your doorstep, and great food. Read more about moving to Monaco expat guide on our platform to know more.
3. Sports and Travel
Another thing to note about Monaco is that the locals enjoy a delightful position with Europe. Also, when it comes to sports, there can’t be a better place to live in than Monaco. The famous Grand Prix is held each year, and sport generally has a prominent place in the country. More so, the Louis II Stadium hosts French football matches and is also used for track, volleyball, and other sports activities.
4. Low Unemployment Rates
Research made it known that the unemployment rate in Monaco is estimated at 2 percent, which is among the lowest in the world. In fact, the Prince of Monaco guarantees every resident of Monaco a job, and the most popular industries among the locals are finance, tourism, and insurance.
5. Low Crime Rates
Monaco is among the countries with the lowest crime rates. This is due to the fact that Monaco’s police force, consisting of 515 people, makes it the most significant police force in per-area and per-capital in the world. And again, it has the lowest poverty rate; that’s why it’s considered one of the safest places in Europe, which earned it the nickname of the safest square mile in Europe.
6. Rich Cultural Events
Monaco doesn’t only boasts about its sports activities and low crime rates but also boasts an impressive cultural calendar too. With the country philharmonic orchestra, opera, and ballet company, Monaco holds annual international festivals. These festivals include; Spring Arts Festival and several Art galleries and exhibition spaces such as the award-winning cultural center and the Grimaldi Forum.
7. High Quality of Life
If security is one of your top priorities to study or live abroad, then Monaco should be on your list. This is because; they have a good reputation of being the safest square mile in Europe through their high per capital and per area police presence, as mentioned earlier. Aside from this fact, the governments allow people to rent a property and are working on medium to meet future challenges or urban life.
8. No Language Barrier
English is widely spoken in Monaco, and this doesn’t give room for the language barrier. This means, expat studying or living in the country can enjoy and communicate with the locals without disturbance. Meanwhile, if you’re moving to Monaco with children, you’ll find high-quality international schools with tons of English language education. Although French is their official language, but Monaco’s government touts its multicultural community of residents as one of the reasons to live in the country.
9. Country’s Location
While Monaco is known as the second smallest country in the world, it has a privileged position on the Mediterranean Coast bordering France and is also close to Italy. Aside from this fact, the country has a railway station with service operated by France’s SNCF train service. Also, it’s slightly more than 20 kilometers from the Nice Cote d’Azur International Airport for international flights.
10. Monaco’s Healthcare System
As of the time of writing this article, Monaco is still renowned for its health care and has a plethora of public and private hospitals. Some of the most famous ones include the Centre Hospitalier Princesse Grace, named after the Prince’s mother, Grace Kelly.
Best International Schools in Monaco
Every expats that want to relocate to Monaco sooner or later faces a problem; which school to choose from. In this article, we are going to present the best international schools in the French Riviera. Perhaps you have already considered a bilingual school, but it takes a person about 5-7 years to be fluent in a foreign language. So, before choosing the best schools in Monaco, check out these tips.
Top Factors to Consider In Choosing a School
Choosing the best international school is a big decision and can quickly become overwhelming. However, many factors and variables need to be considered while selecting the best schools for expats in Monaco. Without further ado, here are several essential variables to consider.
Cost – One first thing you should consider is the cost and your budget. Besides, you should ask yourself if you can afford the tuition when accepted into a particular school. Meanwhile, remember to factor in the financial aid that the school is likely to offer you and find and apply for as many scholarships as possible.
Location of the School – You’ll have to consider the school’s exact location in Monaco before you enroll. If possible, ask yourself whether you’d like to study in a rural, suburban, or urban area. Aside from that, know the distance of the school from where you would live, and check how it matters to you. Meanwhile, also ask yourself if it requires you to invest in a car or will you be able to use public transportation to access the town.
Be Selective – When you’re choosing a school, ensure that you pick the best from varieties. Also, you may want to research the acceptance rates of colleges you’re considering before applying. Moreover, many well-known colleges are generally more selective, so ask yourself whatever you’d be happy about going to a lesser-known school.
Services and Programs – If you’re traveling from another country for schools, you may want to look into any international student programs and services the institution provides. Some of the questions include; does this school provide various programs and activities to help me? Giving an answer to the question will help you.
Grades/Graduate Accepted – Again, it’s pretty essential to know the percentage of graduates or rates accepted before applying to any school. Even if you’re not sure at the moment whether graduate school is in your future, you should do enough research about the acceptance rate of grades and graduates.
Social Life/Extra-curricular Activities – Your College will be your home for the next few years. Again, you’ll want to know what social life is like. Not only that but understanding the school’s reputation and the various activities is as well essential. This way, you might want to research if the school has enough extra-curricular activities to cater to your need.
International Schools for Expats in/Near Monaco
The International School of Monaco (ISM)
The International School of Monaco (ISM) has three key objectives. The first one is to make pupils internationally-minded; the second is to motivate students, while the third is to bring out successful learners. Since its opening in 1994, the school has gone from strength to strength, having a strong academic record.
The Mougins School, located just outside of the charming town of Mougins, accommodates pupils aged 3 to 18 and teaches in the English language. They have a solid academic record and a wealth of extra-curricular activities making Mougins School a favorite with expat.
The International School of Nice
The international school of nice is located just a short drive from Monte Carlo. This school attracts a large proportion of expats students and has been operating for over 38 years. The international school of nice has been accredited by the Council of International Schools and middle States Association since 1990 but was re-accredited in 2000 and 2011.
The International School Provence Alpes-Cote d’Azur
With this school located slightly further from afield from Monaco, it’s a reputable school held regarding its competitive academic record. Due to the location of this institution, the school provides the option of boarding, meaning the morning commute to school wouldn’t be an issue for foreigners.
Pros and Cons of Studying in Mexico
If you’re moving to Monaco with your family or friends, an important decision to make is how to continue your schooling. Monaco may not have the best public schooling available, but there are various options available to you as an expat. Without further ado, take a look at the pros and cons of studying in the country.
Career Success and Achievements
Career success and achievements are one of the advantages derived from studying in Monaco. From finance and real estate to luxury and tourism, over 5,000 local and multinational companies operate in the country across a variety of thriving industries. Besides, the research disclosed that about 80 percent of IUM MBA students land new jobs within three months of graduation.
Entrepreneurship and Innovation
The high school and university in Monaco encourage entrepreneurship and innovation. A good example is the International University of Monaco that has nearly 30 percent of its graduates going to start their own businesses. So, if you’re studying in any schools in the country, be rest assured that entrepreneurship and innovation are in the very DNA of the principality.
With a crossroads of talents, and a strategic position, expat that study in Monaco will likely have the opportunists to network. They may connect with venture capitalists, numerous entrepreneurs, business angels, and investment advisor to achieve their aims and objectives or even start up a business.
While the IUM is ranked ninth in the world for geographic diversity by the economist, the city-state is home to 125 nationalities, with English widely spoken. With this experience, students can explore different things to do, providing personal development and intense inter-cultural training.
As we all know, Monaco has 300 days of sunshine a year, and it’s also located in the heart of Europe. You can expect to see Grand Prix, the tennis master, the Monte-Carlo Rally, and many others. This means you’ll have plenty of things to do, both inside and outdoor the four walls of the classroom.
Weather in Monaco
The weather in Monaco is another excellent reason for considering this country. This is because; the winters are mild and sunny, whilst the summers are glorious and hot. On the other hand, the heat is rarely a problem as most luxury apartments in Monaco are either a stone’s throw from the Mediterranean Sea or have their own swimming pool.
Tax Haven Country
This contributes another reason why a lot of wealthy people decide to live in the country. As of today, Monaco has reduced the amount of income tax the citizens must pay. Aside from this fact, they’re not subject to tax on their worldwide income. So, it’s quite okay to know this fact before you relocate.
House or apartment hunting in Monaco can be a challenging task for expat moving to the country for the first time. Added to the growing demand in the housing market, you should even expect the prices to be relatively high. Besides, you can choose between a short-term and long-term rental agreement based on your planned length of stay.
Becoming a Citizens
Since Monaco is not a part of the Schengen agreement, you can even enter the country with your Schengen visa. Although becoming a citizen can be difficult for people based outside the EU, but expect a lot of scrutiny during the process of residence application. Meanwhile, it has a benefit for having one of the best places to live.
Tips to Move to Monaco Today
Emigrating to Monaco can be as straightforward or as complicated as you may think. Also, you’re not required to have relocation assistance, but most people do. If you’ve been surfing the internet to get good tips about moving to Monaco, look no further as we’ve got you covered. Without further ado, let’s walk you through the directions to move to Monaco.
1. Where to Live
If you don’t have a genuine scholarship, and you’re planning to study in Monaco, where to live is quite an essential thing. Perhaps one of the more pressing challenges you’ll face when you’re planning to settle down. Moreover, it’s easy to think that the city-state is just one significant distinct where everything looks the same, but it’s beyond what you might think of. Some of the best places for expats to live include the following.
● Larvotto – The Monaco cost of living is high, but the Larvotto area can be a place to get affordable accommodation. Also, with its own beach and picture-perfect views everywhere you go, it’s considered one of the most desirable places for expat.
● Fontvieille – The ultra-modern Fontvieille is a very recent addition to Monaco’s skyline. This area reclaims land from the sea to make space for a new, wonderful location. Meanwhile, Fontvieille is also known for its family-friendly atmosphere and peaceful environment.
● Saint Roman – This is officially known as La Rousse. And it’s a northeastern district home to the world’s most expensive apartment in the lust-worthy Odeon building. In Saint Roman, you can find a quiet neighborhood that’s well-suited to anyone that prefers a slightly slower pace of life.
● La Condamine – This suburb is located right above the port, La Condamine. While living here, you’ll enjoy a daily market selling local produce while the locals treat themselves to some convenient shopping on Rue Grimaldi.
2. Apply For a Visa/Permit
Having a valid visa application is among the travel tips to study or live in Monaco. While this country is known as a famous and popular destination, the benefits of having a valid visa cannot be overemphasized. If you’re a student, ensure that you have a statement of your pension for the last six months.
3. Opening a Bank Account
Since the financial institution is a driving sector of Monaco’s economy, opening a bank account is essential, especially for emigrants. However, an expatriate wishing to open an account must possess a valid Monegasque resident card, a Monaco address, proof of earnings, and many others, to mention a few.
Frequent Asked Questions about Monaco
Is Monaco in France?
Well, we’d love to tell you that the principality of Monaco is located in the south-east of France. And this is about twenty kilometers from Nice, but it is a state and the smallest in the world after the Vatican. So, you should have this in mind if you’re moving to study or live in Monaco as an expat.
What is unique about Monaco?
As of this 21st century, Monaco is famously the rich and famous playground, despite being the world’s 2nd-smallest nation. Spanning for just 200 hectares, this historic principality features grand casinos, plentiful bars and clubs, designer malls, attracting celebrities, and many others, to mention a few.
Why is Monaco a rich country?
The number one reason behind this scene is the tax. Not only that, but its principality scrapped income taxes back in 1869, and other tax rates for companies and individuals are exceptionally low. However, the prospect of keeping hold of most of their wealth has attracted people from over 100 nations. In addition to this, the local’s lifestyle and the tax benefits contribute to the country’s rich country.
Is it expensive to live in Monaco?
Considering the factors stated in this article, Monaco is on the average living expenses compared to the United States. From our rough estimation, a person’s estimated monthly costs are 1,613 USD without rent. Meanwhile, the cost of living on average is 67.21 percent higher than in the United States.
Can foreigners buy property in Monaco?
Of course, yes! Foreigners from across the world can definitely buy property in Monaco. This is sole because; acquiring property in Monaco is relatively straightforward. On the flip, there are restrictions placed on foreigners, so you’ll need the service of a public notary to conform to laws.
There are tons of international schools in Monaco, but the International School of Monaco (ISM) seems to be the face of them all. If you wish to know more about this country, we’ve got you covered. All you need is to follow this blog post. In other news, let’s hear your experience while moving to Monaco.