Monaco is a tiny principality tucked down at the south-east corner of France near Italy. Monaco has no income tax, and so it has become a haven for the very rich. Millionaires from all over the world have come to reside in Monaco, with its non-existent tax. There are only about 35,000 residents making it the second smallest independent country in the world. It is home to famous casino and the annual street Grand Prix in the capital Monte Carlo.

The city has four quarters Monaco-Ville, La Condamine, Monte Carlo and Fontvieille. Monaco is a very interesting place to visit for a holiday - tourism is big business. You'll need a lot of cash to buy something in Monaco - the most densely populated country in the world.

The first step in buying a property abroad is to do lots of homework - narrow down the region or country where you want to buy, work out your budget, and it's worth buying some books. There are country specific, region specific and general books on buying a house overseas.

It pays to be skeptical at all times - and get a keen eye for spotting whether people or articles are as independent as they may claim.

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