Monaco has a population of around 38,000 people. On any given day between race weekends, at least a 12 of them are Formula 1 drivers with massive salaries.
The principality covers less than one square mile, yet it’s home to more current F1 drivers than any country on earth outside of the UK. From tax and privacy laws to social connections and its geographical location, discover the many reasons why more than half the grid choose to live in Monaco.
12 of the 22 drivers on the 2026 F1 grid are Monaco residents
Monaco residents face zeo income tax, wealth tax, or capital gains tax
French drivers Ocon and Gasly are legally barred from tax benefits
Charles Leclerc is the only current Monaco-born driver on the grid
Monaco has been a popular spot for F1 drivers throughout history
Old Town and Prince Palace in Monaco. Creidt: Camping Les Pinèdes
Twelve of the 22 drivers on the 2026 Formula 1 grid are Monaco residents. That’s more than half the grid living in a country smaller than Central Park in New York City.
Hamilton has been a Monaco resident since 2010, moving there from Switzerland while still driving for McLaren.
His connection to the principality goes back much further. As a 13-year-old, he’d just been signed by McLaren and was racing in Europe when Keke Rosberg’s son Nico invited him onto the family’s private jet to visit their Monaco flat. Hamilton later recalled: “Whenever I’m here, I always just think, reminisce a lot about when I was younger.”
He reportedly lives in the Fontvieille district in a four-bedroom duplex penthouse with Mediterranean views, purchased for around $40m. He once posted a photo of the view with the caption: “A place I call home, Monte Carlo. I am so blessed to live in such an incredible place.”
Verstappen moved to Monaco the day after his 18th birthday, leaving Belgium behind. He reportedly rents a penthouse on the eighth floor of a building in Fontvieille, valued at around $16m, and is regularly seen jogging around the neighbourhood and working out on his balcony.
When asked why he made the move, he was characteristically direct: “To be honest, I think, for me, it’s nicer to live in Monaco than Amsterdam because I can be more myself. I don’t like to be recognised all the time.”
The financial case is significant. On a salary estimated at $65-70m, the zero income tax represents annual savings of $28-31m compared to a UK-based equivalent. Over the length of his current Red Bull contract, the advantage runs to well over $100m.
Charles Leclerc and His Wife in Miami. Credit: gpblog.com
Leclerc needs no residency application. He was born in Monte Carlo on 16 October 1997, studied at the Lycée Albert Premier in Monaco-Ville, and has never left.
His mother ran a hair salon in Fontvieille and his late father Hervé was a racing driver who competed in French Formula Three. Leclerc grew up watching the Grand Prix from behind the barriers, and in 2024 became the first Monegasque driver to win it since the World Championship was established.
On what Monaco means to him: “Monaco is the most special weekend for me. Born here, it’s where my passion for motorsport began. The track’s close walls amplify the speed, and knowing every corner makes it even more special.”
He’s also pushed back against the principality’s purely glamorous image: “From outside, I don’t think it gives the same image as the image I have of my own city. I have all my friends, all of my family, and there’s not all these glamorous parts of it, this party side.”
Norris announced his move to Monaco in late 2021, admitting financial motivations openly. “It’s something that obviously a lot of drivers go to do and especially, with how racing is, we’ve seen for other drivers how quickly things can go downhill. I have to look after my things for my future. People do many things in life for money. This is just another one.”
That candour was notable. At 20 years old he’d previously said he was “firmly staying in the UK,” explaining that his salary at the time didn’t make the lifestyle sacrifice worthwhile and that missing golf and his friends wasn’t worth it.
A significantly bigger contract changed the maths completely. By the 2022 Monaco weekend he was simply pleased to “wake up in my own bed.”
Russell moved from Woking, Surrey to Monaco in 2022, shortly after stepping up to a full Mercedes race seat.
He’d spent his earlier career deliberately close to McLaren’s factory while serving as their development driver, but once his long-term future was settled at Mercedes, the Monaco move followed naturally. He’s previously spoken openly about his love for the area and is regularly seen cycling the Corniche routes between race weekends.
Piastri and Verstappen Having a Discussion. Creidt: racingnews365.com
Piastri hasn’t lived in Australia since 2016, having moved to Europe as a teenager to pursue his junior career. He initially based himself in the UK when he joined McLaren’s setup before relocating to Monaco in 2024.
The timing coincided with a sharp rise in both his earnings and his public profile following a breakthrough 2023 season. The tax saving at his salary level is already substantial, and his Monaco base puts him alongside his McLaren teammate Norris.
Sainz holds a Spanish passport but moved to Monaco in 2024, reportedly living just five minutes from his former Ferrari teammate Charles Leclerc.
The two have remained close since their time together at Ferrari and are regularly seen training together in the principality between race weekends. For Sainz, Monaco also provides a practical hub given his busy commercial schedule across Europe.
Albon has been a Monaco resident since his return to the grid with Williams. Thai-British by nationality, he qualifies fully for the zero-income-tax arrangement, which is straightforwardly the main draw for any non-French driver at his level.
Away from racing, Albon is an avid sim racer and gamer, and has spoken about how Monaco’s privacy lets him live a relatively normal life between events. He and his partner Lily Muni He, a professional golfer, are regularly spotted around the principality. The lifestyle suits them both: Monaco’s central location makes it as easy a base for her European Tour schedule as it is for his F1 calendar.
Hülkenberg lives in Monaco with his family, having made the move ahead of the 2026 season following his improved contract with the newly rebranded Audi squad.
The German veteran is one of several experienced drivers who made the principality move later in their career rather than as a first instinct. At his current salary level, and with a young family, Monaco’s combination of tax efficiency, security, and quality of life made it a straightforward decision.
Oliver Bearman in His Haas Racesuit. Credit: motorsport.com
Bearman moved into a Monaco property ahead of his first full F1 season at just 19 years old. As a British driver at the start of a significant earning trajectory, there’s nothing in UK tax law preventing him from accessing Monaco’s zero-income-tax status.
He’s one of the younger members of the Monaco F1 community, and his move was in keeping with a broader pattern of British drivers making the switch as soon as their contract value makes it worthwhile.
The Brazilian rookie moved to Monaco on joining the grid for 2026. As a non-French national, he qualifies fully for the tax arrangement.
His move follows a well-established pattern among South American drivers, who tend to base themselves in Monaco rather than commuting from home between European races. With no bilateral treaty complicating his tax position, the financial case is clean and compelling.
Colapinto also recently took up Monaco residency, having secured a full-time Alpine seat for 2026. The Argentine driver benefits fully from the zero-income-tax arrangement.
His move is consistent with the broader trend of younger drivers establishing Monaco residency early in their careers rather than waiting. At 21, he’s set himself up for what looks like a long-term stay in the principality.
Ferrari F1 Car Driving in Monaco. Creidt: Magazine Prestige Villa Rental
Several factors stack on top of each other, but money is the one that triggers the decision for most. The lifestyle and privacy arguments tend to follow rather than lead.
Monaco abolished personal income tax in 1969. For a non-French resident, there’s no income tax, no wealth tax, and no capital gains tax.
On a $30m salary, that’s potentially $10-15m kept every single year compared to living in the UK or Germany. At Verstappen’s earning level, the saving exceeds $30m annually. Over a five-year contract, that’s career-defining money, not a marginal benefit.
One important nuance gets lost in the headlines: Monaco residency removes the home-country tax burden, but drivers still pay taxes on income earned in the country where each race takes place. The principality eliminates the residency overhead; it doesn’t eliminate source-country obligations race by race.
Monaco has strict laws preventing photographers from taking images of residents without permission. There’s 24-hour CCTV surveillance covering the entire principality and a police-to-population ratio far higher than any comparable location in Europe.
For drivers who can’t walk through London or Amsterdam without being filmed, this matters enormously. Verstappen’s comment about living “more like myself” in Monaco isn’t a polished line; it’s a genuine quality-of-life observation that drivers across the grid echo.
Once enough drivers were already there, Monaco started selecting itself. When Norris moved in 2021, Verstappen, Hamilton, Leclerc, Valtteri Bottas, and Daniel Ricciardo were all already resident. He was joining a community, not starting fresh.
The same applies to Bearman, Bortoleto, and Colapinto arriving for 2026. There are private gyms catering to athlete-level training, cycling routes several drivers use regularly, and a social dynamic entirely distinct from anywhere else in Europe. Monaco is where F1 people go to be around other F1 people without it being an event.
Nice Côte d’Azur Airport is 30km from Monaco and handles private jets daily. Eight or nine European races sit within a two-hour flight radius.
When the Monaco Grand Prix itself comes around, drivers simply drive home from the circuit. That specific luxury, sleeping in your own bed on a race weekend, is something several drivers have mentioned as one of the genuine pleasures of the Monaco round.
Monaco sees around 300 days of sunshine per year. For drivers who came up racing through the British junior formulae in wet, grey conditions, the French Riviera is a genuine quality-of-life upgrade.
There are coastal cycling routes, high-quality restaurants, and world-class training facilities. Leclerc’s point about the non-glamorous version of Monaco, friends, family, the health club, the local streets he’s known his whole life, reflects what many resident drivers actually experience day to day.
Pierre Gasly Using His Phone. Credit: gp-magazine.co.uk
Not every driver can access the structure. A bilateral treaty signed between France and Monaco in 1963 means French citizens who move to Monaco still owe full French income tax on their earnings.
As F1 photojournalist Kym Illman explained: “Unlike almost every other country, France has a special agreement with Monaco: if you’re a French citizen, even if you live in Monaco, you still owe taxes to France.”
That’s why Pierre Gasly lives in Milan and Esteban Ocon in Geneva despite both earning F1-level salaries. Charles Leclerc holds Monegasque citizenship and is entirely exempt from the French rule.
Monaco covers less than one square mile but divides into distinct districts. Drivers have clustered in three of them.
The most popular address among current drivers. It’s the southernmost district, built on land reclaimed from the sea in the 1970s under Prince Rainier III, and sits directly adjacent to the Monaco Heliport.
Verstappen lives here, Hamilton is widely reported to as well, and several others are believed to be in the area. For drivers moving between race venues every fortnight, easy heliport access for the hop to Nice airport is a real practical convenience.
Fontvieille has a quieter, more residential character than Monte Carlo, with sea views, landscaped parks, and relatively little tourist traffic. One notable detail: Verstappen has been linked with plans to eventually move to Mareterra, Monaco’s new coastal district currently being built on reclaimed land. If he does, expect others to follow.
Monte Carlo on a Cloudy Day. Credit: expedia.co.uk
Monaco’s most famous district, home to the Casino, the Hôtel de Paris, and the stretch of circuit that gives the Grand Prix much of its visual identity.
Property prices here are the highest in the principality, and the address carries prestige that appeals to drivers at the very top of the sport. Hamilton is reported to have a penthouse in Monte Carlo as well as his Fontvieille property. The Carré d’Or area in particular is home to numerous luxury residences sought by current and former drivers.
Sits between Monte Carlo and the Rock of Monaco, centred on Port Hercule. It has a more everyday commercial character, with a daily market, port views, and narrower streets.
Some drivers prefer this area for exactly that reason. Average property prices are still among the highest in Europe, but La Condamine tends to offer more space for the money than the Carré d’Or.
To put the overall market in context: the average price per square metre across Monaco is around €55k, and a modestly sized apartment routinely costs several million euros. An average property in Monaco’s top districts costs roughly twice the equivalent in London’s Mayfair.
Moving to Monaco requires more than just signing a lease. The process involves real financial and administrative requirements.
Applicants must demonstrate financial liquidity of at least €500k deposited in a Monaco bank, though in practice banks often require considerably more. They also need proof of accommodation, a clean criminal record, and for non-EU nationals, a French long-stay visa before the Monaco residency application can begin.
The residency card, known as the Carte de Séjour, starts as a one-year temporary permit. It renews annually for three years, then issues for longer periods up to a ten-year “Privilege” card. For the ten-year card, proof of 183 days per year in Monaco is required.
Tax residency, the separate Certificate of Domicile that locks in the zero-income-tax benefit, requires those 183 days to be genuinely substantiated: utility bills, bank statements with Monaco activity, gym memberships, and other evidence of actual daily life in the principality. Authorities have become increasingly thorough. Simply renting a flat and flying in occasionally won’t pass scrutiny.
Given an F1 season involves 22 race weekends, drivers use the gaps between races as their Monaco residency window, treating the principality as a genuine base rather than a letter-drop address.
Monegasque citizenship is theoretically available after 10-20 years of continuous residence, but requires renouncing all previous nationalities, a step no current grid driver is believed to have taken.
Monaco’s relationship with F1 drivers predates the current grid by decades. The tradition runs through the sport’s entire history.
Ayrton Senna in His F1 Car. Credit: autohebdof1.com
The most historically significant Monaco resident in F1 history, and perhaps the single figure most responsible for cementing the principality’s mythological status in the sport. His apartment overlooked Port Hercule with white marble floors and views across the harbour.
The detail that most captures the relationship came in 1988, when Senna was leading the Monaco Grand Prix comfortably with 12 laps remaining and crashed at Portier after losing concentration. Visibly upset, he climbed out of the car and walked home to his apartment alone, not returning to the pits that day. The McLaren crew did not hear from him until that evening.
He came back the following year and won five Monaco Grands Prix in a row from 1989 to 1993. His total of six Monaco victories remains the record.
He grew up in Monaco as the son of 1982 world champion Keke Rosberg, giving him a deeper connection to the principality than almost any other driver in history. He knows the streets as intimately as Leclerc does, having raced go-karts through them as a child.
After winning the 2016 world championship and retiring, Rosberg remained in Monaco, where he’s said to have a personal relationship with the Princely family. It was Keke Rosberg’s private jet that first brought a 13-year-old Lewis Hamilton to the principality, beginning his own long association with the place.
Coulthard has been a Monaco resident since 1995 and is one of the longest-serving F1 figures in the principality. He owned the Columbus Hotel in Monaco until 2020 and built a second career as a broadcaster and commentator while remaining resident. Over three decades, Coulthard has become genuinely embedded in the local community.
He moved to Monaco during his F1 career and has remained there in retirement. He won the 2009 Monaco Grand Prix driving for Brawn GP in a season that also delivered his one and only world championship. Button had crashed heavily at the tunnel exit during a 2003 practice session; six years later he won the race. Monaco has been his home before and after.
Mika settled in Monaco during his McLaren championship years in the late 1990s and never really left. The two-time world champion remains resident today, decades after his last race. His continued presence, alongside Coulthard, Button, and Rosberg, reinforces just how permanent most Monaco moves turn out to be. For most of these drivers, it isn’t a temporary tax arrangement; it becomes home.
Other notable former drivers who have lived in Monaco include Valtteri Bottas, Daniel Ricciardo, Mark Webber, Daniil Kvyat, Antonio Giovinazzi, Paul di Resta, and Riccardo Patrese.
Fernando Alonso and Teammate Lance Stroll. Credit: formula1.com
Alonso lives in Switzerland, consistent with his preference for keeping a base close to Europe’s racing heartland. Switzerland isn’t zero-percent income tax, but its rates for high-net-worth individuals are competitive, and Alonso has used it as his primary base for most of his career.
Stroll also lives in Switzerland, which makes practical sense given his father Lawrence Stroll‘s extensive business interests across Europe.
As a French citizen, the 1963 treaty means Gasly would owe French tax regardless of where he lives. Monaco’s lifestyle costs without any tax benefit simply don’t stack up. Milan puts him close to the Racing Bulls facility in Faenza and still gives him a practical European base.
The same French treaty applies to Ocon. Geneva offers lower rates than France but can’t match Monaco’s structure, and unlike Monaco it actually provides a genuine tax advantage for a French national.
Kimi Antonelli in His Mercedes Top. Credit: titansports.mx
Antonelli has made arguably the most technically sophisticated residency choice on the grid: San Marino, where residents are only taxed on income earned within the territory. His Mercedes salary falls entirely outside that scope, making it highly tax-efficient despite receiving far less attention than the Monaco arrangement.
Do all F1 drivers live in Monaco?
No. Twelve of the 22 drivers on the 2026 grid are Monaco residents. Others live in Switzerland, Italy, San Marino, and their home countries. French nationals like Gasly and Ocon can’t access Monaco’s tax-free status due to a 1963 bilateral treaty between France and Monaco, so living there would offer no financial benefit.
Why do F1 drivers move to Monaco?
The primary reason is zero income tax. Monaco levies no personal income tax on residents (except French citizens), which on a salary of $30-70m represents savings of tens of millions per year. Privacy laws, security, central European location, and lifestyle factors all contribute, but the tax calculation is what triggers most moves.
Is Charles Leclerc actually from Monaco?
Yes. Leclerc was born in Monte Carlo on 16 October 1997 and has lived there his entire life. He studied at the Lycée Albert Premier, grew up watching the Grand Prix from the barriers, and in 2024 became the first Monegasque driver to win the Monaco Grand Prix under the modern World Championship.
How much money do you need to live in Monaco?
Residency requires a Monaco bank deposit of at least €500k, though banks often expect more. Property averages around €55k per square metre, so a modest apartment typically costs several million euros. Maintaining tax residency requires spending at least 183 days per year in the principality, and that has to be genuinely evidenced, not just claimed.
Can French F1 drivers benefit from living in Monaco?
No. A bilateral treaty signed in 1963 means French citizens resident in Monaco remain fully subject to French income tax. Gasly, Ocon, and other French nationals on the grid choose to live elsewhere because Monaco’s lifestyle costs without the tax benefit don’t make sense. Leclerc holds Monegasque citizenship and is exempt from this rule.
Where in Monaco do F1 drivers tend to live?
Most cluster in Fontvieille, the southern district near the heliport, and in Monte Carlo around the Casino and Carré d’Or. La Condamine near Port Hercule also houses some. Specific addresses are never officially confirmed given Monaco’s strict privacy laws.
Did Ayrton Senna live in Monaco?
Yes. Senna was a Monaco resident throughout much of his F1 career, with an apartment overlooking Port Hercule. When he crashed out of the 1988 Monaco Grand Prix while leading with 12 laps to go, he walked home from the circuit alone. He won the Monaco Grand Prix six times, more than any driver in history.
Why is the Monaco Grand Prix special for resident drivers?
For drivers who live there, it’s the one race where they sleep in their own beds, race streets they know personally, and do it in front of their neighbours. Norris described waking up in his own bed as one of the genuine pleasures of the weekend. Leclerc grew up watching from the barriers. Hamilton’s connection goes back to a childhood jet ride that first showed him what Monaco life looked like. For all of them, it’s not just a circuit; it’s home.
