The Monaco Grand Prix is one of the sport’s oldest races, first held in 1929, thanks to Prince Louis II and is ready for the 96th edition on Sunday.

The principality also offers the wealthy refuge from high taxes on their personal income – an inviting proposal to the world’s richest people. Tennis big hitters Novak Djokovic and Boris Becker are among some of the sporting stars who reside in the small principality.

Even musicians such as U2’s Bono and Beatles member Ringo Starr have lived in Monaco during their outstanding careers. It is a billionaire’s paradise, offering a stupendous financial advantage to its residents with its zero personal income tax policy, saving drivers millions on their overall earnings.