Why do all tennis players live in Monaco?
There is one simple explanation for that. The reason why tennis players like Novak Djokovic live in Monte Carlo is that it is considered a tax haven. The Principality of Monaco does not collect personal income taxes and does not levy net wealth taxes.
Does Djokovic have a house in Spain?
Inside Novak Djokovic’s stunning new £8.5m Marbella mansion he moved into during Covid with tennis court and home cinema. NOVAK DJOKOVIC bought his stunning NINE-bedroom lockdown mansion to add to his incredible property portfolio. And this Spanish villa set him back a whopping £8.5million.
Do tennis players pay for hotels?
Most of the time, the player also must pay for the flights and accommodation of his team. According to ITF, all these costs are too much for most players. Only about 336 men and 251 women break-even in professional tennis each year.
How does Monaco make money with no tax?
Major revenue sources include postage stamp sales, liquor and tobacco taxes, and registration fees. The state does not collect income or direct personal or corporate taxes. As a result of these liberal tax laws, numerous international business maintain their headquarters in Monaco.