Monaco, a sovereign city-state on the French Riviera in Western Europe, is renowned for its opulence, glamorous lifestyle, and compact size. With an area of just 2. 02 square kilometers, Monaco is the world’s second-smallest country. Governed as a constitutional monarchy, its political system is characterized by a hereditary monarchy, with Prince Albert II serving as the reigning monarch since 2005. The Prince shares executive authority with a Council of Government, headed by a Minister of State, responsible for day-to-day governance. Monaco’s political landscape is marked by stability, and the country has long been known for its economic prosperity, fueled by a thriving tourism industry, a luxurious casino, and a reputation as a tax haven. The absence of personal income tax has attracted wealthy individuals from around the world. However, Monaco faces challenges related to limited space for expansion, environmental sustainability, and the need for careful urban planning. The principality’s history is intertwined with its association with the Grimaldi family, who have ruled Monaco for over 700 years. Prince Rainier III, Prince Albert II’s father, is credited with transforming Monaco into a modern and prosperous state, leveraging its status as a tax haven. Prince Albert II has continued to emphasize environmental sustainability, spearheading initiatives to address climate change and marine conservation. The country’s commitment to these issues is reflected in the Prince’s foundation, dedicated to environmental protection and sustainable development. Monaco’s political and economic success is closely linked to its status as a global financial center. The absence of direct taxation on residents and businesses has attracted high-net-worth individuals, contributing to the principality’s wealth. The government has diversified the economy, investing in sectors such as finance, real estate, and technology. The tourism industry, fueled by events like the Formula One Grand Prix and the upscale Monte Carlo Casino, remains a significant economic driver. Despite its prosperity, Monaco faces challenges associated with its limited space and environmental impact, prompting initiatives to reclaim land from the sea for urban expansion. CANCERMATTERS: Features political system of Monaco.