H.E. Mrs Genta, Ambassador Extraordinary and Plenipotentiary of Monaco to the United Kingdom, “Monaco has a real role to play!”

2015-04 interview-genta

H.E. Mrs Evelyne Genta does her utmost to assert all aspects of the Principality of Monaco: cultural, tourism and - perhaps above all - economic. She explains her mission in a few words.

How is Monaco perceived in London?

Its image is changing, but of course everyone is familiar with the glamorous side of Monaco, its magical places and Princely family. On the other hand, in business and financial circles, leaders are well aware of what Monaco represents in terms of economic dynamism.

What about the Monegasque financial centre?

It needs to be better known. For this reason we are organizing an increasing number of events in this sense. In June, in partnership with the International University of Monaco, we will present the courses for careers in finance in Monaco. Then on 3 November, in connection with the Monegasque Association of Financial Activities in particular, we will host “Monaco, destination for business” at the Royal Automobile Club in London.
We are on the right track. The bilateral agreements on the exchange of information and transparency are a good thing. We emphasise clarity, which is very reassuring for people who wish to settle in Monaco. Today our expertise in the financial professions is a trump card for attractiveness. But we still have some way to go regarding “making it known”. We need to assert and publish our expertise and to communicate it better. Like our professional certification for banking professions, for example.

You advise people who wish to settle in Monaco. What is their typical profile?

They are educated people with a high – indeed very high – income level. They are younger than in the past, or rather in their forties. And they want to work in Monaco. That is very important. Many people working in finance wish to relocate to Monaco. For them it is imperative to live in a country that is modern, dynamic and pleasant. And in this respect Monaco tempts them greatly.

Is it easy for them to settle in Monaco?

They much appreciate the work of Monaco Welcome Business Office, which can guide them accurately and efficiently. The only recurring difficulty they face is finding premises, as in London they are used to large business centres which have no equivalent in Monaco. But it is very positive that working persons are settling – by working they keep the Monegasque economy going, and in addition they tend to repatriate all their assets, which is not necessarily the case when people are resident but not working persons.
In addition they see Monaco as a small country where everything is simple and fast. Since the big international auditing firms such as KPMG, Deloitte, P.W.C and Ernst&Young set up in Monaco, they can really find their bearings and feel “at home” in Monaco.

What are Monaco’s main competitors at this level?

Very clearly Dubai, Singapore and Geneva. But the international situation means that Dubai, in the Middle East, is in an area of possible turbulence, Singapore is highly appreciated but on the other side of the world, and Geneva is a little less attractive. So Monaco has a real role to play!