Obtaining tax residency in Monaco
- Thread starter Gediminas
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Gentlemen with all my respect and sympathy, "a lawyer told me", " a friend told me" , "I read on the internet" "the cousin of my friend's son in law told me" this is how urban legends are born. It s very simple: this is a businessmen forum and anonimous. How come there is not ONE person to write "yes it s me, the tax office followed me through facial recognition software and my cell phone signal" Maybe because there is not such a thing? (yet) What will happen next, you will be abducted by alliens?
I could deny it if I liked. I could deny anything if I liked. - O. W.
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Yes they do. I am not even exaggerating eek¤%&.
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"A climate of security reigns in Monaco Monte-Carlo making this prestigious setting even more appreciable. Security specialists are unanimous, it would be difficult to live in a place safer than Monaco. One policeman for every 100 residents, a system of 24-hour video surveillance spanning the entire surface area of the Principality, including the majority of residence halls, a transmitting system worthy of the best armies in the world, the possibility of blocking all access in and out of the Principality in several minutes. And we mustn't forget the surveillance teams inside of the Casino and in all of the gambling establishments and hotels."
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Security in Monaco - Monaco Monte-Carlo
That's my concern. With such levels of data collection how does one protect themselves if the state turns rogue? 😕 Imagine the n**i's had access to the sort of information collected on citizens today more jews would have been killed. History repeats itself and its wrong to think such things can never happen in Europe again.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
I'm very surprised with this. I don't think this is possible because taxmen are slow. Not all highways toll gateways take pictures, and when they do, they don't keep them for long. I think all data is deleted after 7 days, maybe 30 days, no more. In the EU countries I know, this data is only available to the police, when they look for a criminal. In what country did this happen?
Finally, there's a big difference between MC and oppressive states. People trust Prince Albert. He just want his country to be very safe. Nobody has ever been arrested for dubious or arbitrary reasons in MC.
Biggest myths there is im afraid. Times have changed in digital age where information can be obtained more readily even years later.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Exactly, the big difference MC between repressive states with goal to extract everything. MC is all abou safety nothing more. It's true that MC residents fully trust prince Albert and MC govenment.
Even in Dubai you have limitations as blocked Viber, Whatapp etc..
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so you want to say that your face is not continuously scanned and compared with a huge data base if you are actually walking the streets or if you you hid and escaped through the barbed wires (is this Monaco or Auschwitz?) and no speach recognition software is used in all the countries you visit to match the pitch of your voice through your cellphone to notify the Monaco Tax office that you are not there?? How is this possible???
Monaco is interested in real residents only to comply with international regulations and make sure residents really live there. So, they do trace residents to make sure they really live in MC.
some people are overeacting like they trasnport every other week two tons of blanquita in their own fantasy and some others are playing along this paranoia to offer some " financial service" , albeit some medical doctor would be more appropriate
Well it's not paranoia. Let's say you live in Italy and you claim you live in Dubai and you are tax resident in Dubai. Sooner or later tax man will ask you to provide evidence that you really live in Dubai. If you have no evidence or you provide some not realistic evidence, they will calculate you tax in Italy.
I think you really misunderstood this all conversation here
That's enough for me to know. I would never come there don't even for holidays, this type of surveillance breaks all privacy. Safe place OK but I hope it's not what is required to stay so in other countries.
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You want to visit Monaco!
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It s another thing the tax man requesting your residency and tax residency papers and you , having some basic precautions not to provide a strong paper trail that you are still where you are not supposed to be and another thing to claim , that the tax office is scanning your face , to check u r on the street or not or the air waves in foreign countries to catch your voice signature.
At some extent correct. Governments can trace phone movement, scanning car plates around, credit/debit cards entries are recorded etc. About voice recognition might be not so realistic...
I would agree with that. Sounds like one more theory conspiracy.
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What I mentioned is not an urban legend. It is a real case where the person claimed to be tax resident in a tax haven while still often visiting his home country. They used card statements, neighbours and highway toll gate records against him. It went through three courts (local court, regional court and supreme administrative court).
This happened in 2014 and it was about €4k. Let that sink in, 6 years ago, today you have better data, better reporting, better technology.
I can send you the real court decision PDF if don't trust me and want proof (PM me if interested) though I'm not sure if it will help you as it is 10 non-English pages of law speak. He didn't go to jail but he had to pay back taxes + interest + a fine.
Yes it is possible. You can never count on data being "truly deleted". The same applies to the new passenger information exchange system valid from 2019. Officially they claim that the data will be "anonymized" after 6 months so that older information cannot be obtained, however how exactly that deanonymization looks and why keep anonymized data at all remains a mystery. Or maybe not a mystery, they just don't want to say this data will be available forever from now on.
By the way "data only available to the police" is nonsense. Usually police and state prosecutor work hand in hand (against the individual) with presumption of guilt. Only when you get to court there should be presumption of innocence. What can happen is the tax office automatically reports suspicion of fraud/tax evasion (the office is forced by law to report it), police can investigate, police gets permission from prosecutor which is usually just a formality. Then they get all the data they want.
And the situation is even worse than you can imagine a) in China and b) in "golden cage" countries such as Monaco, Saudi etc. Even the situation in the UK is insane, get on a bus and there are 7 cameras inside.
Last edited: Jan 22, 2020
Monaco is a very nice place but not suitable for young people.
If you're over 50 and you want to "retire" is perfect.
Last time i went there i was impressed by the amount of escorts i saw.
Talking about Monaco strictness:
Isabela dos santos, billionaire daughter of Angola former Dictator had some serious wealth parked in Montecarlo: a 53M € apartment and 200+ millions in cash deposit.
I guess Monaco strict due diligence only applies to those average joe's with a few milllion of net worth, made with hard work.
If you're over 50 and you want to "retire" is perfect.
Last time i went there i was impressed by the amount of escorts i saw.
Talking about Monaco strictness:
Isabela dos santos, billionaire daughter of Angola former Dictator had some serious wealth parked in Montecarlo: a 53M € apartment and 200+ millions in cash deposit.
I guess Monaco strict due diligence only applies to those average joe's with a few milllion of net worth, made with hard work.
Exactly even once I took a rental hire car while on holiday in UK and drove through Victoria and saw ANPR (Automatic Number Plate Recognition) signs....lol. I would tell people 100% not to be ignorant of the mass surveillance they are under in the UK. HMRC even tells you openly in their letters they send you that they monitor social media and other forms of information to gather information on you 😕. You are being watched and even tracked if you drive or use a phone on the train system nin%¤#.
UK ANPR systems are one of the ”˜world's biggest surveillance systems'
Here's What TfL Learned From Tracking Your Phone On the Tube
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What a shitty place. I hope the Sun is shining at other places without cameras.
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