Why most F1 drivers choose Monaco as their home

Monaco and Monaco! Looks like social media has been obsessed with Monaco for a while now and all thanks to Formula 1. The place has been synonymous with glamour, speed, and exclusivity. But for the Formula 1 stars, it is more than just the setting of one of the most iconic races in a year. This tiny principality has become home to almost half of the 20 drivers on the current grid with Mercedes team boss Toto Wolff. Its appeal extends far beyond tax benefits, blending lifestyle, privacy, and logistical ease.

Why Formula 1 drivers chose Monaco as their home?

Of the 20 F1 drivers, nine are residents in Monaco. Charles Leclerc, Max Verstappen, Lewis Hamilton, Lando Norris, Nico Hulkenberg, Daniel Ricciardo, Valtteri Bottas, Alex Albon, and George Russell, who joined last year. The place spans over r 2 km² which is about the size of Hyde Park in London, with only 40,000 inhabitants. A quarter of them were born in Monaco itself which includes f1 star Leclerc, and a third are millionaires. Property prices in this place are among the highest in the world and sometimes even twice as high as London’s Mayfair.

Relaxation and fitness are a major part of day-to-day life here. F1 star Leclerc, visits his local health club every day and regularly unwinds at the Thermes Marins Monaco. The climate of Monaco also makes it perfect for cycling, running, and watersports. “It’s a nice change up to the normal routine. It feels a bit strange to go home every night and between sessions, but it puts me at ease,” Nico Hulkenberg once explained about living at home during the Monaco GP.

The lifestyle here is pretty exclusive. From Michelin-starred restaurants such as Le Louis XV – Alain Ducasse to yacht-filled harbors, Monaco caters to grandeur. Leclerc even owns his own yacht and cruises along the principality’s 3.8 km coastline. Privacy in Monaco is another major plus point as professional photos needs prior written permission from the government. Even Monaco’s high police 24 x7 makes it one of the safest places in the world.

When it comes to convenience, Monaco serves up the best. The Nice airport is just 15 miles away and a heliport offering 7-minute transfers. Above all, the tax regime is hard to ignore here. Residents here pay no income, wealth, property, local, or capital gains taxes (except French nationals). As Lando Norris admitted, “It’s something that obviously a lot of drivers go to do, and especially with how racing is – you’ve seen it with a lot of the drivers how quickly things can also go downhill.”

For F1 drivers, Monaco offers the perfect blend of security, luxury, and financial sense.

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