Tax Haven: one of the main reasons why a lot of wealthy people decide to move to Monaco is to reduce the amount of income tax they must pay. Monaco residents are not subject to tax on their worldwide income.
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Many Monaco natives are not wealthy and must rely on government subsidies in order to afford to remain in Monaco. It is nearly impossible for foreigners to become citizens, so government subsidies are tailor-made to support Monaco natives. The unemployment rate is estimated at 2 percent, one of the lowest in the world.
French is the official language of the Principality of Monaco, English and Italian are also widely spoken and understood. Some people, including students, speak the original Monegasque language.