Monaco

The Monaco Yacht Club is one of Europe’s most exclusive clubs. This place has everything: Russian oligarchs, Chinese titans of industry and members of Europe’s royal families mingle with the rich and famous from around the world.

While entry to the club is probably unfeasible for most people of average means, Bloomberg reports that there’s still a way in to the club that was founded by the late Ranier III, Prince of Monaco and husband of Grace Kelly.

The principality of Monaco is about the same size as New York’s Central Park and slightly bigger than London’s Regent’s Park. Besides hosting the Monaco Grand Prix it is home to thousands of multi-millionaires, including tennis player Novak Djokovic and F1 driver Lewis Hamilton, who enjoy the fact that Monaco does not levy income tax or capital gains tax. As the Financial Times notes.

Monaco’s enduring popularity for tax exiles also rests on its year-round climate, unrivalled security and its wealthy, multicultural society...