Monte Carlo - Where The Wealthy Can Relax On Vacation

Glamorous Monte Carlo is a magnet for the well off - if they don't want to take residency there for the tax haven reasons they almost certainly want to visit.

And while the recession might be hitting ordinary people, and they are cutting back on their holidays, even with losses on the stock markets the ultra rich still have enough money not to notice a big loss at the Monte Carlo casino.

But there's more to Monaco than just the casino for the ultra rich to enjoy...and part with their money.

Held in September, the Yacht Show is recognised worldwide as the leader of its type, with royalty mixing with celebrities and the ultra rich to view the latest offerings from the yacht world - and at the end of May each year of course there is the Monaco Grand Prix.

For million and billionaires who like to go shopping, Monaco has all the top boutiques in Monte Carlo. From Prada to Cartier, and Gucci to Louis Vuitton, it's a shoppers paradise - and of course the Aston Martin, Ferrari and Lamborghini car showrooms are all closeby in case they need to transport it home.

And for hotels, it's difficult to imagine a better choice than the hotels in Monaco millionaires would be able to choose from.

From the classic Hotel de Paris in Casino Square with its Michelin Star restaurant, the Hermitage and the Columbus are all known throughout the world for their excellence and five star service.

And if the ultra rich decide to move to Monaco full time they would be welcome if their background checks out - and they will need to have money to buy a Monte Carlo property.

In recent years London and Monaco have both held the title of the most expensive property in the world, with Monaco recently outstripping London's most exclusive areas to top the list of the world's most expensive real estate.

But it isn't just the luxury items that will impressive the wealthy if they decide to live in Monaco, because Monaco has the best broadband access in the world, showing that the tax haven is not just moving with the times, but welcoming new technology and embracing the new opportunities it affords. Perfect for those who run a business and want to carry on doing so while living in Monaco.

Over 40 per cent of Monaco households have and use broadband, while broadband is available to every property in the Principality - the second smallest country in the world after the Vatican.

For those multi millionaires who do decide to visit Monaco, there's little doubt that some will buy a property and live there tax free for a while.