Sovereign Principality of Monaco

The Sovereign Principality of Monaco is a small, independent city-state located on the French Riviera, known for its luxurious lifestyle and financial sector. It is a constitutional monarchy with a prince as the head of state, specifically the Prince of Monaco. Despite its size, Monaco maintains its own government, laws, and diplomatic relations, functioning independently while sharing strong ties with France. It is renowned for its stability, wealth, and attractions like the famous Monte Carlo casino and annual Grand Prix. Monaco's status as a principality means it combines traditional monarchy elements with modern governance, making it unique among world nations.