Why do tennis players live in Monaco?

There is one simple explanation for that. The reason why tennis players like Novak Djokovic live in Monte Carlo is that it is considered a tax haven. The Principality of Monaco does not collect personal income taxes and does not levy net wealth taxes.

Tennis players choose to live in Monte Carlo because Monaco levies no income tax. That is why so many wealthy athletes choose to live in Monte Carlo. However, most tennis players are only registered in Monte Carlo, as most players are on tour all year round. In the off-season, they aren’t in Monte Carlo either.

Instead, they go back to their real home with their families. So it is safe to say that most players only live in Monte Carlo because of the economic benefits.

Ever since 1869, Monte Carlo has been considered a tax paradise with no levies on personal income for its residents. To become a resident of Monaco, you need to live in the principality for at least 6 months and one day of the year. However, most tennis player that is on tour all year round is spending much lesser time than 6 months in Monte Carlo.