Monaco’s Tax Haven Status Creates Opportunities and Challenges for F1 Drivers

Monaco's Tax Haven Status Creates Opportunities and Challenges for F1 Drivers

P1racenews AI automatic summary:


Monaco is a tax haven for F1 drivers but strange rule means some LOSE out

“Formula 1 is heading to Monaco this weekend as part of the European triple-header, following an action-packed race in Imola.

Last time out in Italy, reigning champion Max Verstappen claimed victory on Red Bull’s 400th F1 race weekend, signaling a return to form for the Dutch driver.

Despite over half of the 2025 grid residing in Monaco, some drivers, like Lewis Hamilton, choose to stay away due to personal preferences or circumstances such as missing out on a potential Ferrari seat.

Monaco offers a luxurious lifestyle, with tax benefits that attract many F1 drivers, including home hero Charles Leclerc who recently broke the ‘Monaco curse’ and now races on the streets he grew up on.

While Monaco remains a popular choice for F1 stars, the decision of where to reside ultimately comes down to personal preference, as seen with some choosing to stay closer to their roots or other locations they find appealing.”

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