Monaco Economic Board in London for an Economic Mission
Published on 20 June 2024 at 12:00 - Modified the 20 June 2024 at 13:37
From the 10th to 10th 12 June, the Monaco Economic Board visited the British capital for an economic mission under the patronage of H.E. Mrs. Evelyne Genta. Representatives from 44 Monegasque companies participated with the aim of growing their relationships and business all the whilst promoting Monaco's advantages to potential investors.
H.E. Mrs Evelyne Genta with the Monaco Economic Board Delegation - 10/06/2024
Upon their arrival in London on Monday evening, the economic mission was welcomed by the Hauser & Wirth gallery, which has been in Monaco for three years, for an exclusive reception in partnership with the MEB. Members of the delegation and the guests had the opportunity to exchange ideas and the ambassador addressed questions regarding investment in London.
On Tuesday morning, the mission visited the Royal Automobile Club for a presentation by Patrick Armstrong, Chief Investment Officer of Plurimi, where he highlighted the fascinating potential of their market prediction system based on artificial intelligence. The presentation was followed by a networking lunch to discuss this financial tool in further details.
In the afternoon, the real estate company Savills hosted the participants for two conferences. The first was led by Themis Themistocleous, Head of EMEA Investment Office at UBS, who discussed the English economy on the eve of the general elections. The second was presented by Lucian Cook, Director of Savills Research, who provided a captivating analysis of the English real estate market compared to Monaco.
Following this, the London Chamber of Commerce organized a meeting between Monegasque delegates and around sixty British entrepreneurs, followed by a cocktail and dinner. It was the opportunity for H.E. Mrs. Evelyne Genta to answer questions from Principality business owners about setting up in the UK, and for British entrepreneurs to inquire about accessing the Monegasque market.
On Wednesday June 12th, the highlight of the mission, the 44 Monegasque companies’ representatives visited the Royal Thames Yacht Club in Knightsbridge to meet with finance professionals, including legal advisors, family offices, tax specialists, accountants, and bankers. This event began with a presentation of Monaco's financial market by Alejandro Velez, Vice-President of the AMAF. Then, Maître Sophie Marquet and Maître Raphaëlle Svara from the CMS law firm highlighted the benefits of Monegasque legislation.
The day at the Royal Thames Club ended with a networking cocktail, animated by numerous questions about the Monegasque tax regime. Indeed, with the impending abolition of the UK’s “Non Dom” status, many Britons are considering Monaco as an attractive option due to its quality of life, favourable tax system, security, and stability.
That evening, Mr. Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition, and Mrs. Chloé Leclercq Boscagli, Director of Monaco Private Label, organized a cocktail and dinner at the Cadogan to introduce the Monegasque delegation to highly influential members of the London community.