Monaco is the world's most densely populated country, so the country's efforts are oriented in reclaiming some newly constructed areas from the sea and regulating the infrastructure by building the rail-way lines in Monaco mainly under the ground. The absence of a personal income tax in the principality has attracted a considerable number of wealthy people.

Traditionally the country's largest income comes from gambling, but today the tourist sector is also developing. Since 1929, the Monaco Grand Prix has been held annually in the streets of Monaco.

A suit should be worn and prior appointments are necessary. Business meetings are formal.

It is considered impolite to begin a conversation in French and then revert to English.

Values French speakers in Monaco hold in high esteem include:

• Formality
• Individualism
• Propriety
• Privacy
• Respect for Authority.

Basic success driven tips:

• Avoid exaggeration, which businesspeople in Monaco interpret as naive, boasting or flat-out rude.
• Don't be afraid to debate. The value business partners, who make logical arguments and display an understanding of all of the "sides" or perspectives of subject.
  If you and your colleagues don't share a common language, plan ahead and hire a French interpreter for your business communication.
• Exchange business cards after initial introductions. Although they don't have a set formality to exchange business cards, doing so after your initial meeting is considered to be most appropriate time. As an added gesture of your good taste and respect for business etiquette in Monaco, include a French translation of your business card on its flipside.
• Write up agendas and decisions in a formal matter. Use precision and details when drawing up contracts, agendas or other business documents to be used by all the parties. Impress your colleagues in Monaco and show them, that you value their business by obtaining French translations of your business documents.
  
  

The Principality of Monaco (also called Munegu) is the second-smallest state in the world. It lies on the narrow coastline of the Mediterranean see (on Riviera or Azure coast), bordered by France on three sides.

Monaco is the world's most densely populated state; it consists of an old city of Monaco and four sections, as for examle Monte Carlo.

In 1297 Francesco Grimaldi fled from Geneva to Monaco. The aristocratic family later seized the power, seceded from Geneva supremacy and expanded its territory in the second half of the 15th century.

The House of Grimaldi has ruled the Monaco ever since and it is one of the oldest ruling family in the world.

Charles III of Monaco turned gambling into his benefit to get out of the crises - he laid the foundation stone for the new casino and named the city region Monte Carlo. The casino was build following the model of Paris opera. The Principality made fortune by abolishing taxes, so the prestigious villas, hotels and profitable departments inspired the city with the sense of prestige.

Monday - Friday: 8.00am – 7.00pm.

Some post-offices are open also on Saturdays: 8.00am – 12.00pm.

Legally permitted opening hours:

Monday - Friday: 9.00am – 12.00pm and 3.00pm – 7.00pm.

Credit cards are widely accepted in Monaco in all 4 regions. The most common credit cards, such as American Express, MasterCard and Visa, are accepted in numerous hotels, restaurants and shops.

Almost all petrol stations will accept credit cards.