Facts about Monaco

Arms of MonacoMonaco is the second smallest nation in the world (after Holy See), and the second most densely populated. Located in Europe, it is divided into 10 wards.

It borders France on three sides and the Mediterranean Sea on its fourth.

Roughly the same size as New York’s Central Park or about three times the size of The Mall in Washington, DC (1.95 sq kilometers or 0.75 square miles), the city of Monaco and the Principality of Monaco are essentially the same thing.

Tourists are attracted to Monaco by its weather and casino, and its glamorous reputation.

Ruled by the House of Grimaldi since 1297, the city-state’s sovereignty was declared in 1861 after centuries of being passed between Genoa, France and Sardinia.

Mussolini’s troops invaded in 1943, swiftly followed by the Nazis, but the post-war era was happier and more glamorous, encapsulated by Prince Rainier III’s marriage to the actress Grace Kelly.

In 2005, their son, Albert II, took the throne.

Monaco Facts

  • Full name: Principality of Monaco (Principauté de Monaco)
  • Capital: Monaco-Ville population 1,034
  • Head of state: Prince Albert II
  • Head of government: Minister of state Mr Pierre DARTOUT
  • Government: Constitutional Monarchy and Principality
  • Population: 39,400 (January 2021)
  • Currency: Euro (EUR)
  • Official language: French Italian and English widely spoken
  • Grimaldi family has ruled Monaco since 1297
  • Defended by France
  • Monaco was founded in 1215 as a colony of Genoa.
  • An average person can walk across the width of the county in ~56 min.
  • Not a member of the EU
  • Monaco became a member of the United Nations in 1993
  • No income tax
  • Third most expensive real estate in the world €52.000/m² in 2022
  • No international disputes
  • Second most tourist arrivals per capita 7,991.61 per 1,000 people
  • Largest police force in the world per-capita and per-area basis
  • One of the safest countries in the world
  • Highest point: Chemin des Révoirés 162 meters
  • Hosted Monaco Grand Prix since 1929
  • Time zone: Central European time (+1 hour)
  • Calling code: +377
  • Geographic coordinates: 43 44 N, 7 24 E
  • Coastline: 4.1km
  • Lowest point: Mediterranean Sea 0 m
  • Highest point: Mont Agel 140 m
  • National anthem: “A Marcia de Muneghu(The March of Monaco)
  • Internet users: 38,500 or 97.1% (2022)
  • 41.7% of the total population are using Social Media in 2022

Map of the Principality of Monaco

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PayPal Monaco

PayPal is not currently available in the Principality of Monaco and based on the below statement, which is an update to the PayPal Policy Updates page, it might not be available anytime soon.

Monaco removed as supported PayPal country
Notice Date: October 4, 2005
Effective Date: November 4, 2005

Beginning November 4, 2005 PayPal will be withdrawing its service to users registered with a PayPal account in Monaco. This is due to regulatory restrictions which impact PayPals ability to continue to provide its service to its Monaco PayPal account holders.

In particular, Monaco registered users will no longer be able to send funds using their PayPal account as of 4 November 2005 nor will they be able to receive funds using their PayPal account from November 19, 2005. All Monaco registered accounts will be officially closed by the end of February 2006.

UPDATE June 2014
Paypal is now available in Monaco although with no withdrawal ability at the time of writing – for more information visit https://www.paypal.com/mc/

Sources: Mahalo, Wikipedia, Guardian, NationMaster, Google Maps, Business Insider and Forbes