When I first noticed that so many tennis players live in Monte Carlo, I was quite surprised because I didn’t know why. I imagine that you have found out the same thing and are now eager to hear the answer, so I’ll explain it to you as someone explained it to me back in the day.
Many world-class tennis players live in Monte Carlo because there is no income or individual tax. This allows tennis players that earn millions of dollars per year to save hundreds of thousands of dollars. Livin in Monte Carlo will save huge amounts of money.
That being said, it’s quite understandable why world-class tennis players seem to gather there. If you would save hundreds of thousands of dollars annually, wouldn’t you do the same? I know I would.
Also, Monaco isn’t the only tax haven out there. Countries like the Bahamas, Andorra, Cayman Islands, and Mauritius are some popular tax havens as well.
That being said, Monaco is still one of the most popular tax haven choices for tennis players, so are there additional great things about Monte Carlo that draw rich tennis players? Let’s see!
Monte Carlo as a tax haven
In addition to the amazing tax benefits that Monte Carlo offers, there are many other great things about it.
First of all, Monte Carlo has an amazing location. It is located in Europe, and it shares its only border with France in the north. Monte Carlo is facing towards the Mediterranean Sea, so the sailing opportunities are world-class, and so are the views. This alone attracts wealthy people from all over the world.
Also, thanks to its amazing location, Monte Carlo has nearly all of its days in a year sunny and tennis friendly, so there is no need to stress about the weather and training capabilities.
Second, Monte Carlo offers great entertainment. For example, the Casinos of Monte Carlo are world-famous and attract wealthy people to win ridiculous amounts of money or vice versa. Anyways, it’s an adrenaline rush.
Formula 1 and Rallye Monte Carlo races are huge events as well! Oh, and the Monte Carlo Masters tennis tournament is a big ATP event with a huge $2 million prize money for the winner!
So paying no taxes, sailing, gambling at the casinos, watching great sports, views, and being near the sea is more than enough to draw wealthy tennis players as residents.
However, do tennis players actually spend all their free time in Monte Carlo? That’s a good question.
Do tennis players actually reside in Monte Carlo?
Many millionaire tennis players indeed reside in Monte Carlo, but that’s often only in paper. Most of the time, to become a successful tennis player, to even consider saving money in taxes by residing in Monte Carlo, the tour times around the world and other events take so much time that the players hardly see Monte Carlo within the year.
Of course, this depends on the particular player, but many of these players have villas worldwide and a permanent home in their hometown. Hence, they take the Monaco tax benefits but actually stay somewhere else.
Who tennis players live in Monte Carlo?
As previously discussed, there are many different tax havens to choose from in order to avoid paying income tax. However, Monte Carlo is clearly one of the top ones within the tennis community. Below you can find some famous tennis players that live in Monte Carlo
- Alexander Zverev
- Daniil Medvedev
- David Goffin
- Feliz Aliassime
- Grigor Dimitrov
- Matteo Berretini
- Milos Raonic
- Novak Djokovic
- Stefanos Tsisipas
- Stan Wawrinka
How much do tennis players save by living in Monaco?
Depending on the annual earnings and original country and its tax laws, the savings can be between 20%-60%. If a tennis player considers tax haven, they often earn huge amounts of money so that the savings can be hundreds of thousands or even millions of dollars per year.
My Favorite Tennis Equipment
Thanks for reading this article. I hope it brought you great value that you can implement into your own life! Below you’ll find my top tennis equipment recommendations would like.
- Racket: My preferred tennis racket is the Wilson Ultra 100 V3. This racket is made from graphite and carbon fiber, making it durable, firm, and easy to swing. The racket weighs 300g, making it lightweight yet not too lightweight to generate power. The racket’s main benefit is power. I like to add multifilament strings to the racket, such as Wilson NXT Soft 16 (recommended tension 52lb/23.5kg), because they are comfortable and soft on the arm with a great feel to the game.
- Tennis balls: Best tennis balls are always pressurized, and I like them having extra-duty felt, which is fit for hard court play. I like Penn Championship Tennis Balls, and so does the ITF because these balls are approved for competitive play. So yes, these are the real deal.
- Tennis shoes: I can’t stress enough the importance of comfortable and supporting shoes. ASICS Gel-Resolution 8 tennis shoes are unique because the balance between durability and support mixed with comfort is something out of the ordinary.
- Fan Equipment: If you’re a fan more than a player, you don’t want to miss Fan Equipment by Fanatics. You can find items from various sports that bear your favorite team’s logo, such as jerseys, gift ideas, or other surprising things.
Nobody likes to pay taxes, especially if your tax rate would be +50% and you would lose millions of dollars to that, so it is no wonder that many professional tennis players decide to move into a tax haven such as Monte Carlo. If you were a millionaire tennis player, would you move into a tax haven or no?