Monaco is an F1 tax haven and the 'ultimate symbol of wealth' but one British star still refuses to live there

At least 13 of the current 22 drivers who are lucky enough to hold a full-time seat on the Formula 1 grid live or own property in Monaco.

As well as being the host destination for the Monaco Grand Prix (the jewel in the motorsport crown) the principality also represents a level of opulence most of us will only ever dream of.

But whilst champions like Max Verstappen, Lewis Hamilton and legends of the sport both past and present choose to move to the glamorous sovereign state, 2026 rookie Arvid Lindblad is not convinced.

According to the United Nations Department of Economic and Social Affairs Population Division, Monaco remains the most densely populated country in the world.

The principality measures at just 2.02 square kilometres and offers a favorable tax environment for F1 drivers (just not the French ones). It also boasts the highest number of millionaires per capita in the world, but that's exactly why Lindblad, who is barely on a million-dollar base salary as a rookie, has no plans to relocate there.

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Why Arvid Lindblad is immune to Monaco's allure

In an interview with Motorsport.com halfway through his rookie season in the sport, Lindblad maintained that he is still keen to not give into the appeal of moving to Monaco.

The teenager touched on how he feels his upbringing has impacted him, having told media in the past that it wouldn't feel right for him to move to Monaco when his family have had to work tirelessly for everything throughout their lives.

"My grandparents had nothing. There were periods when my dad struggled to even eat three meals a day. By the time he was 11 or 12, he was already working," said the 18-year-old.

"My mother's side of the family has a remarkable story as well. My grandparents came from Pakistan. At one point they lost everything. Literally everything. Overnight they were left with nothing except the clothes they were wearing and whatever they could carry with them. They came to the United Kingdom and had to rebuild their lives from scratch. They worked incredibly hard as doctors to create a future for themselves. I grew up surrounded by people who earned everything through hard work."

When asked if it was this knowledge that served as an explanation to why he didn't want to live in Monaco, the British-Swedish racing driver replied: "Exactly. I know many people who live there tell me that, in the end, it's actually a fairly normal life. But in my mind, I still struggle with the idea of living in a place that represents the ultimate symbol of wealth.

"When I think about my father struggling just to have three meals a day when he was young, and my grandparents losing everything, it feels almost wrong to me. It's a personal feeling. I'm not saying Monaco is a bad place. It's simply that, right now, I don't feel comfortable with that idea.

"Of course, I'm still just a normal guy. Sometimes I like buying something nice. Maybe, in that sense, I'm a little contradictory. But that's how I see things today."

So if not Monaco, then where? Lindblad prefers to imagine a life where he can live in a quiet seaside town where no one knows of his F1 fame: "I'd rather live somewhere by the sea, somewhere quiet, where nobody recognises me. Somewhere I can go to the cinema, take a walk, meet my friends or simply live like any other young guy. That's really important to me," said the Racing Bulls star.

"Since I was a child, my life has been completely different from that of my friends. When I'm at the track, I want to be a Formula 1 driver. But when I go home, I just want to be an 18-year-old. I want a normal life. And where I live now, that's exactly what I have."

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Written by

Kerry Violet - F1 News Editor

Having graduated from the University of Sheffield with a 2:1 in Journalism in 2022, Kerry continued her pursuit of finding a full-time position in motorsport through work with the F1 Arcade in London, where she got to meet true fans of the sport and make a live grand prix watch party memorable for them. It was here that she confirmed her dream of combining her background in journalism and love of motorsport, going on to volunteer with the female-led platform Empoword Journalism. Having completed stints as a screen editor and sports editor, Kerry landed her first F1-specific editorial role with GPFans and has thoroughly enjoyed continuing to work closely with the sport ever since. The access GPFans offers Kerry has allowed her to interview big names such as Naomi Schiff and David Coulthard and given her experiences she could only have dreamt of as a young F1 fan.

View full biography

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