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Month: October 2026

How many times can a British billionaire move to Monaco?

by: Cassandra Tanti
08/10/2026

British billionaire David Reuben moved from London to Monaco this summer, The Sunday Times claimed at the weekend, in a story picked up both internationally and locally as another example of Britain’s wealthiest residents fleeing the country’s changing tax regime for the safe haven of the Principality. But official records show the property magnate had already been living in Monaco for more than a decade.

Most major UK news outlets, along with many international ones and some Monaco media, quickly replicated The Sunday Times’ story. Now, British tax research organisation TaxWatch has published documents that contradict it, and a spokesperson for Reuben has confirmed to The Guardian that he has been resident in Monaco for years.

The story that spread

On Sunday 4th October, The Sunday Times reported on its front page that David Reuben, 88, had left his home in Holland Park, west London, and moved to Monaco over the summer, joining his younger brother Simon, who has lived in the Principality for around 40 years.

The brothers have a combined fortune estimated at almost £28 billion, with property holdings that include some of London’s best-known landmarks, while David Reuben is also a shareholder in Newcastle United Football Club.

The move was presented as the latest in a wave of departures by wealthy Britons following changes to the UK’s tax system, including the abolition of the non-domiciled tax regime in April 2025.

There was, however, a significant problem with the timeline.

Official records tell a different story

On Wednesday 7th October, TaxWatch published an investigation by its director, Mike Lewis, under the headline ‘How many times can you move to Monaco?’, setting out official documents in which David Reuben had declared himself a Monaco resident years earlier.

When David Reuben became a director of his charitable foundation in July 2019, the paperwork filed with Companies House, the UK’s company registry, stated that he was usually resident in Monaco, like his brother.

In February 2024, David Reuben went further in a signed declaration to a Los Angeles court, made under penalty of perjury. “I reside in Monaco. I have resided there for approximately 10 years,” he stated.

The declaration formed part of legal proceedings in which the brothers argued that the court lacked jurisdiction over them, and that they had not been properly served with court papers left with a London-based service company, because they live in Monaco.

It places the start of Reuben’s residence in the Principality at around 2014, a decade before Britain’s Labour government came to power in July 2024 and well before the non-dom regime was abolished.

A spokesperson for David Reuben confirmed to The Guardian this was the case.

British arrivals are rising

None of this means the trend itself is a myth. Monaco’s own figures show the British community growing. According to the 2025 census by the Monegasque Institute of Statistics and Economic Studies (IMSEE), the Principality was home to 3,081 British nationals in 2025, up 163 on the previous year and representing 7.9% of the population. Between 2023 and 2025, British nationals accounted for nearly one in five new residents, second only to the French.

Monaco’s professional services sector has reported the same shift. “We’ve seen a marked rise in inquiries, particularly from non-domiciled UK residents who anticipated these changes. Many have already started the relocation process, including obtaining visas and residence permits,” Audrey Michelot, a tax expert at law firm CMS Monaco, told Monaco Life in January 2025, three months before the non-dom regime was abolished.

Monaco’s appeal is well established. The Principality levies no personal income tax on most residents and no capital gains tax, and inheritances passed between spouses and direct descendants are exempt from succession duties.

British arrivals in Monaco are real and rising. David Reuben, it seems, was simply not one of the most recent ones.

See also: 

Monaco’s population tops 38,000 as British residents cement fourth place in nationality rankings

Monaco Life is written by qualified journalists, writing original content. Sign up for our free newsletter, listen to our podcasts on Spotify, and follow us across Facebook,  Instagram, LinkedIn, and Tik Tok.

Photo credit: Cassandra Tanti

‘Crazy Frankie’: Monaco’s Red Nose Campaign shifts gear for 22nd edition

by: Virginia D’Umas
08/10/2026

Under the high patronage of Prince Albert II, the Monégasque association Les enfants de Frankie is preparing to launch the 22nd edition of its annual charity drive, culminating on Sunday 6th December.

This year’s campaign breaks with tradition through a collaboration with EFG Private Banking and international emoji powerhouse Smiley World Limited. The classic red sphere has been redesigned into the ‘Crazy Frankie’ – a slightly smaller, high-visibility orange emblem engineered to be mounted on vehicles, office desks, or backpacks.

Priced at €3, the new noses serve as a direct fundraising tool for sick, disabled, and vulnerable children across Monaco and the wider Provence-Alpes-Côte d’Azur region. Proceeds will directly fund therapeutic projects, specialist equipment, and regional cultural and leisure activities.

Retail rollout and pop-up schedule set for 2026 charity campaign

The campaign rollout begins later this month, supported by a broad network of retail partners including Carrefour Monaco, select local post offices, and participating pharmacies across the Principality.

To boost engagement, volunteer teams will also host temporary pop-up stalls at key transit and community hubs ahead of the December finale. Stalls are scheduled at the Princess Grace Hospital on 21st October and 4th November from 11am to 4pm, at the Fontvieille Shopping Centre on 28th October and 28th November from 9am to 6pm, and at Monaco Railway Station on 12th November from 8am to 6pm. Full lists of permanent retail locations remain accessible via the association’s official website.

Established in November 1997, Les enfants de Frankie has spent nearly three decades supporting vulnerable youth in the region. The organisation has held official consultative status with the United Nations Economic and Social Council since 2008.

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Photo Credit: Les enfants de Frankie

New Moods launches third season with live music and new menu

by: Kayla Sauceda
08/10/2026

New Moods has officially launched its third season in Monte-Carlo, kicking off six months of live music with an Ed Sheeran Experience alongside a new food and cocktail menu.

Monaco Life attended the opening weekend on Place du Casino, where the Ed Sheeran tribute act took to the stage for consecutive nights of performances. The opening marked the beginning of the 2026-2027 season, bringing tribute acts celebrating some of the biggest names in music to Monaco through March.

New Moods was revived in 2024 under Monte-Carlo Société des Bains de Mer Chairman and CEO Stéphane Valeri. Now entering its third season under venue director Stéphane Lobono, New Moods has established itself as a fall and winter destination, open from Thursdays to Saturdays.

This season’s edition spans a broad range of musical genres and generations. Following its opening act, the venue will welcome ABBA Mania from 8 to 10 October, followed by Madonna Mania from 15 to 17 October, and Amy Winehouse tribute Sounds of the Lioness from 22 to 24 October. The opening month will close with Oasis tribute Columbia on 30 and 31 October.

The programme will continue each month with tributes ranging from individual artists such as Lady Gaga, Whitney Houston, and Elvis Presley, to bands such as the Rolling Stones, Coldplay, and U2. Local talent is also featured in the lineup, with MC Talents scheduled for 25 February and Monaco rock group Rabata Roca on 26 February.

NEW MENU COMPLEMENTS THE LIVE PROGRAMME

To welcome its new season, New Moods has introduced a food and cocktail menu crafted by Café de Paris Monte-Carlo chef Victor Marion.

The menu offers a broad selection of dishes, ranging from Légumes à Croquer, with crisp vegetables, cheese, and beetroot hummus, and Bellota, featuring sliced Iberian ham, peppers in oil, olives, and focaccia, to lobster served in brioche with yuzu mayonnaise and chives. Other options include salmon gravlax, beef kefta, shrimp panko, and pulled pork.

A selection of dishes and cocktails from New Moods’ new menu. Photo source: Monte-Carlo Société des Bains de Mer

Desserts include Tutti Frutti, a selection of seasonal fruit, and churros served with cinnamon sugar, chocolate sauce, and turrón, alongside a chocolate and hazelnut finger and mini baba with passion fruit, coconut, and mango.

The drinks menu features a range of signature cocktails, including the Lady in Red, combining Neft vodka with cranberry, raspberry syrup, lime, passion fruit, and cherry bitters. Other creations feature playful, music-inspired names such as Purple Rain, Wake Me Up, Sweet Dreams, and Burning Love, while the menu also includes alcohol-free cocktails.

BEYOND THE EVENING PROGRAMME

New Moods will also host events aimed at younger guests this season, including a Halloween event for those aged four to twelve on 28 October. Later in the year, a Christmas event featuring entertainment, decorations, and refreshments will take place on 20 December.

Outside its concert programme, New Moods is also available for private and professional events throughout the year, with capacity for between 40 and 200 guests.

New Moods is open on Thursdays, Fridays, and Saturdays from 7:30pm to midnight until 27 March 2027. The minimum spend is €65 per person, including food, drinks, and the performance.

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Main photo source: Monte-Carlo Société des Bains de Mer

MEB officially rebrands as the Monaco Chamber of Commerce

by: Virginia D’Umas
08/10/2026

Members of the Monaco Economic Board voted unanimously on Monday 5th October at an Extraordinary General Meeting to rename the association as the Chamber of Commerce of Monaco, introducing expanded business services and a revised operational scope.

The structural change follows the Princely Government’s establishment of the Invest Monaco Unit, which assumed responsibilities for investor attraction and international promotion previously managed by the Economic Board. Operating internationally as the Monaco Chamber of Commerce, the entity has refocused its mandate on core institutional missions, including company support, internationalisation, and business networking.

Chairman Michel Dotta, a founding member of the predecessor Chamber of Economic Development established in 1999, described the renaming as a natural evolution, saying: “It’s a quite logical progression (…) the Chamber of Commerce of Monaco now perfectly reflects what we are today.”

Core missions and expanded programming

During the meeting, Deputy CEO Justin Highman outlined the organisation’s primary objectives, saying that it completed 70 actions and facilitated over 1,500 matchmaking connections in 2025. Addressing attending entrepreneurs, CEO Guillaume Rose said: “The Chamber of Commerce aims to be more than ever your point of contact and your partner,” as the institution steps into its role as an expanded operational partner for local enterprises.

To support this objective, member services are scaling up. Annual business-to-business (B2B) networking sessions will transition to a biannual schedule, alongside the gradual introduction of enhanced economic monitoring services.

Photo credit: Sébastien Darrasse / MEB

Record-breaking members’ meeting

Following the formal vote, more than 400 executives gathered on the terrace of the Monaco Yacht Club’s Observatory Deck for the 58th Members’ Meeting, marking a record attendance for the event.

CEO Guillaume Rose presented the upcoming schedule of initiatives through the end of the year, which features domestic conferences, B2B sessions, incoming delegations, and economic missions to Montenegro and China.

Support for youth entrepreneurship

The evening also included an address by David Sirour, President of the newly independent Graines d’Entrepreneurs association. Operating for a decade within the Junior Chamber of Monaco, the mentoring programme for local pupils is expanding independently to foster entrepreneurial skills among young people in alignment with the Chamber’s mission.

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Main photo credit: Sébastien Darrasse / MEB

Monaco begins work on new yacht mooring zone ahead of 2027 anchoring ban

by: Virginia D’Umas
08/10/2026

Monaco has begun work on a new deep-water mooring zone designed to protect its seabed from repeated yacht anchoring, ahead of new rules that will largely prohibit vessels from dropping anchor outside the designated area from summer 2027.

Spearheaded by the Department of Maritime Affairs after several years of preparation, the project addresses the environmental strain caused by repeated traditional anchoring on the seabed. Replacing successive anchor drops with fixed mooring points will protect local marine ecosystems in a heavily frequented body of water. Construction work is scheduled to last approximately three and a half months, concluding no later than 31st March 2027, according to the government. The new facility will become fully operational for the summer 2027 season.

Deep-water engineering and mooring specifications

While organised mooring zones already exist elsewhere in the Mediterranean, the Monaco installation is distinguished by its deep-water location – situated at depths between 45 and 80 metres – which increases the technical complexity of the installation. Developed in coordination with French maritime authorities due to its geographical location, the designated area corresponds to the traditional summer anchorage used during major Principality events.

The system will feature nine mooring buoys secured to the seabed via eco-designed anchor blocks, comprising four buoys designed for vessels up to 50 metres, three buoys for vessels up to 70 metres, and two buoys for vessels up to 90 metres.

New regulations from summer 2027

Once operational, vessels up to 90 metres will be accommodated within the zone, managed by the Société d’Exploitation des Ports de Monaco (SEPM). Concurrently, anchoring will be prohibited year-round outside of this designated perimeter across all waters under Monegasque sovereignty, significantly reducing the total number of anchorages and alleviating pressure on marine habitats. Exceptions and adjustments may be implemented during major maritime events. 

During the construction phase, all other maritime activities within the project zone are prohibited for safety reasons, though temporary adjustments will be made to accommodate major nautical events.

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Photo credit: Cassandra Tanti, Monaco Life

Monaco’s historic Rock faces sweeping new property controls under proposed law

by: Cassandra Tanti
08/10/2026

Monaco’s Government is seeking sweeping new powers to intervene in property sales, restrict changes of use and control redevelopment on the Rock, warning that growing real estate pressure threatens the historic neighbourhood’s identity. 

Home to the Prince’s Palace, the Cathedral, the National Council, the Town Hall and the Palace of Justice, the Rock is not only the historic seat of Monaco’s institutions but also a residential neighbourhood where Monegasque families have lived for generations. The Government argues that growing property speculation and commercial development threaten this balance, putting an important part of the Principality’s heritage and national identity at risk.

The bill, submitted to the National Council on Tuesday 6th October, would introduce a new legal framework to protect Monaco-Ville, including its historic buildings, residential properties, local businesses and public spaces.

Presenting the legislation to elected representatives on Wednesday, the Minister of State argued that existing laws were insufficient to prevent the gradual transformation of the Rock from a residential neighbourhood into an area increasingly shaped by property investment and tourism.

The Government pointed to successive property acquisitions, proposals to convert homes into short-term furnished accommodation, the replacement of neighbourhood shops with businesses catering primarily to visitors, and major renovation projects that could ultimately change how properties are used.

While individual developments may comply with existing regulations, the Minister warned that their cumulative impact could fundamentally alter the character of Monaco’s oldest neighbourhood.

The Oceanographic Museum in Monaco-Ville is a popular tourist attraction. Photo credit: Cassandra Tanti

New powers over property sales and development

At the centre of the proposed legislation is a new right of pre-emption, giving the State priority to purchase certain properties when they are put up for sale. The proposed powers would also cover transactions involving shares in property-owning companies, businesses and leases within the protected area.

The legislation would also introduce tighter controls over the use of individual premises, with particular attention to the conversion of residential properties and the types of commercial activities permitted.

A third measure would strengthen State oversight of construction, demolition, alterations to historic buildings and development of open spaces.

The protected perimeter would cover Monaco-Ville, including its ramparts, surrounding slopes, cliffs, gardens and the Chemin des Pêcheurs. Its precise boundaries would be detailed through a Sovereign Ordinance.

Existing property projects will not be overturned

The proposed legislation raises important questions for property owners and developers who have already invested in Monaco-Ville.

Addressing those concerns, the Minister acknowledged that the Government itself had approved several developments on the Rock in recent years, including projects already completed, under construction or awaiting implementation.

He insisted that the new legislation did not represent a reversal of those decisions.

Under Article 49 of the proposed law, property transactions covered by qualifying preliminary sale agreements concluded before the law’s publication would be exempt from the new pre-emption rules.

Existing planning permissions would also retain their validity, while legally established uses and commercial activities could continue and be transferred without requiring fresh authorisation.

The Minister further stressed that the proposed right of pre-emption would not amount to compulsory acquisition.

Property owners who disagreed with the State over a proposed purchase price would retain the right to withdraw their property from sale without penalty. Any acquisition against an owner’s wishes would have to follow Monaco’s existing expropriation legislation and its legal safeguards.

Government demands urgent vote by 16th October

The legislation has also become a source of tension between the Government and National Council. Submitted under an emergency procedure requiring debate to begin by 13th October, the 50-article bill is instead scheduled for debate and a vote on 16th October. The Minister of State criticised the delay, insisting that the National Council must meet its revised deadline without further postponement. He warned that property transactions, changes of use or planning permissions secured before the law takes effect could escape the proposed restrictions, undermining efforts to protect the Rock.

The Government maintains that the proposed law is intended to manage future development rather than prevent investment in Monaco-Ville. It would also introduce additional oversight, including a public register of properties acquired through the State’s new pre-emption powers and a report to the National Council every three years on the law’s implementation.

Monaco Life is written by qualified journalists, writing original content. Sign up for our free newsletter, listen to our podcasts on Spotify, and follow us across Facebook,  Instagram, LinkedIn, and Tik Tok.

Photo credit: Benjamin Vergely