Why almost every F1 driver lives in Monaco and it's not just for tax purposes
Published on Jun 09, 2026 at 1:44 PM (UTC+4)
by Ben Thompson
Last updated on Jun 09, 2026 at 1:44 PM (UTC+4)
Edited by
Mason Jones
Nearly every F1 driver lives in Monaco, and it’s not just tax incentives that have them setting up shop there.
The residents list of Monaco is a verifiable who’s-who of F1 legends.
From Charles Leclerc to Max Verstappen and Lewis Hamilton, the Mediterranean microstate is bustling with motorsport greatness.
But what is it that attracts to this country – besides the absence of direct taxation?
Monaco is a haven for an F1 driver
Many F1 drivers count themselves as residents in Monaco these days, including Charles Leclerc, Max Verstappen, Lando Norris, Lewis Hamilton, and Valtteri Bottas, to name just a few.
On the face of it, you might figure it’s a bit of a no-brainer.
After all, Monaco is nestled comfortably on the French Riviera, luring in supercars and their fans from around the world.
Yachts line up along the coast, but even they’re often upstaged by the cars that drive past.
Feels like a natural setting for men who drive fast cars for a living, right?
The outside observer would draw one conclusion behind this decision.
How taxes work in Monaco
The Monaco tax system is distinct from other European countries, in that there is no wealth tax, no property tax, and no housing tax.
Only two groups are subjected to taxation – those with French nationality, and certain companies depending on their turnover.
Due to tax treaties with France, French people living in Monaco are subject to taxation as if they were still living in France.
Exceptions for this include French people working in public services, those married to Monaco citizens, and those with dual nationality.
At any rate, F1 drivers have an obvious incentive to move to Monaco if they want to keep ahold of their millions.
But that’s not the only reason why they might consider relocating there.
The privacy of Monaco would appeal to a F1 driver
For celebrities, privacy is extremely important and Monaco offers that in abundance.
The state has some of the strictest privacy laws in the world.
A new law came into effect last year which banned unauthorized photography and filming of guests inside hotels and casinos.
“Discretion is one of Monaco’s most valuable currencies,” a source told Monaco Residents Magazine.
“This law ensures our guests can dine, gamble, or simply relax without fearing they’ll be broadcast to the world.”
But regular Joes wanting to film on their iPhones get off easy compared to the paparazzi, who are banned outright.
It’s no wonder then that celebrities flock here in their droves.
Monaco and Formula One are deeply intertwined
And even if the above wasn’t applicable, it’s hard to ignore the fact that Monaco and Formula One go together like coffee and cream.
After all, the Monaco Grand Prix remains one of the sport’s most prestigious races.
It’s no wonder people are willing to shell out $400,000 for a hotel to enjoy the weekend.
And with the location locked in until 2035, motorsport’s most iconic race isn’t going anywhere any time soon.
Ben joined Supercar Blondie in February 2025 after being published by international organizations including LADbible, The Sun, the New York Post, and the Daily Mail. He covers supercars, rare and collectible vehicles, aviation, luxury assets, and the fascinating people behind them. His reporting has explored everything from seven-figure supercars and historic Ferrari collections to unusual aircraft adventures and extraordinary automotive discoveries from around the world. Ben has also gained first-hand insight into vehicle craftsmanship and customization, including visiting specialist workshops to see bespoke vehicles up close.
