Sovereign city-state, country, and microstate on the French Riviera
Monaco, a microstate on the French Riviera, is a wealthy city-state with a small population. Governed as a constitutional monarchy, it is known for its luxurious lifestyle, tourism, and banking sector. Monaco is a tax haven with no personal income tax and is famous for its high number of millionaires. The principality is not part of the EU but uses the euro as its currency and participates in certain EU policies. Monaco is also renowned for hosting the Monaco Grand Prix and being a hub for marine conservation research.