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Day: 6 October 2025

Princess Caroline and Princess Stéphanie awarded high French honours in Monaco ceremony

by: Cassandra Tanti
06/10/2025

Princess Caroline of Hanover and Princess Stéphanie of Monaco have been recognised by the French Republic with two of its most prestigious national honours.

The ceremony took place on the morning of Monday 6th October in the Salon des Glaces of the Prince’s Palace in Monaco. French Ambassador to the Principality, Jean d’Haussonville, presented the honours in the presence of Prince Albert II.

Princess Caroline was elevated to the Grand Cross of the National Order of Merit, the highest rank within the order. Created by President Charles de Gaulle in 1963, the National Order of Merit recognises distinguished civil and military service. The Grand Cross is rarely awarded and is typically reserved for individuals who have demonstrated exceptional commitment and achievement throughout their public life.

Over several decades, Princess Caroline has played a leading role in Monaco’s cultural, philanthropic and international activities. Her work with organisations such as the Princess Grace Foundation and AMADE Mondiale has contributed significantly to child welfare, education, and the arts both within Monaco and abroad.

Princess Stéphanie, the youngest of Prince Rainier III and Princess Grace’s children, was appointed Officer of the Legion of Honour, France’s most senior order of merit. The distinction acknowledges her longstanding dedication to humanitarian causes, notably through her work with Fight Aids Monaco, the organisation she founded in 2004.

The honours reflect the close relationship between Monaco and France and serve as recognition of the sisters’ individual contributions to social and cultural life across the region.

The ceremony took place just days after Monaco hosted the Global Gift Gala, where Princess Stéphanie was recognised also for her humanitarian work.

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Photo credit: Frédéric Nebinger, Prince’s Palace

Monaco to install humane pigeon loft in Fontvieille to control urban populations

by: Cassandra Tanti
06/10/2025

A new “regulation” pigeon loft will be installed in the gardens of the Fontvieille basin by the end of 2025, as part of Monaco’s commitment to managing urban wildlife in a humane and environmentally responsible way. The aim is to reduce pigeon populations ethically while improving public spaces for residents and visitors.

The system works by replacing real eggs with artificial ones, limiting new births without harming the birds. It also encourages colonies to remain in one chosen location, preventing the spread of pigeons into unsuitable areas. In addition, the loft allows regular health checks and veterinary care under the supervision of a dedicated management team.

Inspired by similar initiatives across Europe, the project combines prevention, animal welfare and ecological balance, reflecting the Principality’s wider strategy to integrate sustainability into every aspect of urban life.

Educating the public

Informational panels will be placed around the site to explain how the pigeon loft functions and to remind the public of the importance of not feeding pigeons in the streets.

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Photo credit: Stephane Danna, Government Communications Department 

Timepieces of Prince Rainier’s inner circle and other great historical figures to headline Paris auction

by: Cassandra Tanti
06/10/2025

An exceptional auction by Artcurial this October will spotlight rare timepieces linked to Monaco’s Prince Rainier III and other artefacts tied to some of history’s most influential figures, from Napoleon Bonaparte to Charles de Gaulle.

On 15th October, Artcurial will host a landmark sale in Paris titled Collections Historiques – Souvenirs des Grands Hommes, a tribute to the visionary men who shaped history. Among the most anticipated highlights are three extraordinary watches from the private collection of Pierre Rey, Prince Rainier III’s trusted advisor and one of the key architects of Monaco’s modern transformation.

These horological masterpieces, revealed to the public for the first time, speak volumes about the principality’s golden age under Rainier III. Of particular note is a one-of-a-kind Cartier ‘Pièce de Monnaie’ watch, uniquely crafted for Rey, in which a timepiece is concealed within a gold coin engraved with the Prince’s effigy. Estimated between €200,000 and €400,000, this rare object symbolises the trust and close bond between the sovereign and his most discreet aide.

A tribute to Monaco’s post-war metamorphosis

The Cartier is accompanied by two significant Patek Philippe watches: the ‘Pink on Pink’ Heures Universelles Ref. 1415, valued up to €200,000, and a Calendrier Perpétuel Ref. 1526 with rare ‘Big Arabic’ numerals, expected to fetch between €400,000 and €800,000. Each piece reflects Pierre Rey’s refined taste and his instrumental role in shaping Monaco’s economic and cultural landscape during the 1950s.

Rey, who served as Rainier III’s private advisor, administrator of the Prince’s assets, and president of the Société des Bains de Mer, was a key player in Monaco’s reinvention from a sleepy Mediterranean enclave into a sophisticated global destination. The watches act as both aesthetic marvels and historical artefacts, echoing an era defined by transformation, discretion, and vision.

The memory of great men through extraordinary artefacts

These Monaco-linked treasures will conclude a three-part auction celebrating the lives and legacies of great historical figures. The opening chapter revisits Napoleon Bonaparte’s Egyptian campaign through a rare 1830-bound edition of Description de l’Égypte and over 20 original scientific drawings by Jean-Joseph Marcel, an orientalist and pivotal member of the expedition.

Following this is a deeply personal collection of over 70 handwritten letters between Charles de Gaulle and Paul Reynaud, chronicling the turbulent years between 1934 and 1966. These correspondences reveal the political foresight and military concerns of both men during the rise of fascism in Europe and the birth of the Fifth Republic.

Prince Rainier’s enduring legacy takes centre stage

Yet for Monaco’s residents and admirers alike, it is the final chapter that resonates most. The watches are not just mechanical feats; they are artefacts of loyalty, leadership and legacy. According to Artcurial, they serve as “silent witnesses to an era of renewal”, defined by Rainier III’s relentless drive to elevate the Principality’s stature on the global stage.

The inclusion of a bespoke piece bearing Rainier’s image – created by Cartier specifically for Pierre Rey – is both a testament to the Prince’s discerning eye and a symbol of the faith he placed in his closest collaborators. This sale offers collectors and history enthusiasts a rare opportunity to connect with the personal stories behind Monaco’s dramatic post-war evolution.

The full auction catalogue will be on public display at Artcurial in Paris from 11th to 14th October. The sale of the Monaco timepieces will take place at 6pm on 15th October, following the earlier auction of Napoleonic and Gaullist documents.

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Main image by Artcurial

Pink October: Monaco urges women to act on breast cancer screening

by: Cassandra Tanti
06/10/2025

As Breast Cancer Awareness Month begins, the Princely Government has renewed its call for early detection, reminding women that screening saves lives.

Breast cancer is the most common cancer among women and the leading cause of cancer-related deaths. One in eight women will face it during their lifetime. Yet when caught early, outcomes are far more positive. Today, 60% of breast cancers are diagnosed at an early stage, and five years after diagnosis, 87% of patients are alive, according to France’s National Cancer Institute.

Why screening matters

Mammography remains the cornerstone of screening, capable of identifying lesions invisible to touch. Ultrasound and, in some cases, MRI provide additional precision. In Monaco, both private imaging centres and the Princess Grace Hospital are equipped with advanced technology and skilled teams, offering a high level of preventive care.

A clear message for October

The government is urging women not to delay. Early screening allows for faster treatment, less invasive therapies, and better long-term survival.

“Do not wait — get screened,” the campaign message stresses, as Monaco once again joins the global Pink October movement to raise awareness and encourage action.

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Photo credit: Michael Alesi, Government Communications Department

Monaco enters global top five for ultra-wealthy property buyers

by: Cassandra Tanti
06/10/2025

Monaco has been ranked the fourth most sought-after city in the world by ultra-high-net-worth individuals, according to the Barnes City Index 2025, joining Madrid, Dubai, Miami and Milan in the global top five.

The annual index, compiled by luxury real estate group Barnes, tracks the preferences of ultra-high-net-worth individuals (UHNWIs) — people with assets of at least $30 million. It evaluates destinations based on three criteria: emotional appeal, practical factors, and financial advantages.

“The luxury real estate sector has proved a safeguard against uncertainty,” said Thibault de Saint Vincent, President of Barnes. “Cities like Monaco and Milan, which have made spectacular leaps in the ranking, appeal for their ability to offer a 360-degree experience, combining favourable taxation, high-quality infrastructure and a refined lifestyle.”

Monaco’s rising appeal

With its debut in the top five, Monaco is singled out as “by far” the most popular destination for wealthy families. “People choose Monaco for its security, its political and economic stability, and its attractive fiscal regime,” explained Florian Valeri, managing partner of Barnes Monaco.

Within the Principality, every neighbourhood is in demand given its compact 2.08 km² footprint, but some stand out. Fontvieille is attracting buyers with its seafront residences, pedestrian areas and quieter streets, while Larvotto appeals with its beachside lifestyle, the eco-district of Mareterra and nearby private beaches. The Carré d’Or continues to stand out as the very centre of luxury living, with its high-end shops, hotels and cultural venues.

What buyers want

The study shows that small apartments remain the most popular choice for investors, while three- and four-bedroom properties are increasingly sought by younger families settling in Monaco, particularly in new developments such as Mareterra. Beyond real estate, buyers are drawn to Monaco’s dynamic cultural and sporting calendar, Michelin-starred restaurants such as Alain Ducasse’s Louis XV, and its thriving nightlife.

A largely European clientele

The Barnes City Index highlights that the majority of new buyers are European, led by the French, followed by Italians and Britons. By contrast, interest from Middle Eastern and Asian clients has waned. Many wealthy families maintain multiple homes worldwide, often pairing a residence in Monaco with a villa nearby on the French Riviera in Cap d’Antibes or Saint-Jean-Cap-Ferrat.

Property as a safe haven

Despite the high entry point — averaging more than €50,000 per square metre — Barnes argues that Monaco real estate remains one of the most secure investments available. “In the long term, it represents not only a patrimonial and inheritance strategy but also a highly liquid asset, thanks to constant demand,” the study notes.

The report concludes that Monaco’s draw as a safe haven continues to grow stronger, reinforcing its position as one of the world’s premier destinations for the ultra-wealthy.

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Photo credit: Richard McCreery, Monaco Life

MEB conference warns Monaco’s business leaders of rising criminal liability

by: Cassandra Tanti
06/10/2025

The Monaco Economic Board (MEB) and the Order of Chartered Accountants of Monaco have sounded the alarm on the growing legal risks faced by company directors, during a conference that drew around 100 business leaders at the Novotel Monte-Carlo.

Held on Tuesday 30th September, the session focused on ‘The Criminal Liability of the Business Leader’, a timely subject given recent changes to Monaco’s corporate modernisation laws and new directives from the Monegasque Financial Markets Authority.

Law firm 99 Avocats, represented by partner Erika Bernardi and colleagues Patricia Kemayou Mengue and Paul Tomatis, outlined how directors may be held criminally liable not only as official (“de jure”) directors but also as shadow (“de facto”) directors. They warned that companies themselves can also face prosecution alongside their managers.

Crimes most frequently seen

The lawyers detailed the offences they most often encounter, ranging from involuntary injury and bankruptcy to fraud, breach of trust, forgery, VAT and corporate tax evasion, and money laundering. Using real-life examples, they stressed how directors can easily underestimate their own exposure.

“These offences are spread across various laws and regulations, making it challenging for business leaders to fully understand the risks involved,” said Maître Bernardi.

Prevention through compliance

The speakers underlined that preventive steps are vital, including the delegation of authority and the creation of robust compliance systems. Such measures are increasingly necessary as Monaco continues to align its regulations with international standards.

Audience engagement throughout the event reflected the high level of concern among business leaders. For the organisers, the initiative is part of a broader mission to ensure that companies in the Principality grow not only successfully but also responsibly.

“This partnership aims to equip Monaco’s entrepreneurs with the knowledge to anticipate and mitigate risks,” said Stéphane Garino, President of the Order of Chartered Accountants. Guillaume Rose, CEO of the MEB, added that the organisation would continue to facilitate exchanges on issues central to the Principality’s economic resilience.

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Photo source: MEB