The Principality of Monaco marks its National Day celebration today, November 19, 2022. It coincides with its 70th anniversary since Prince Rainier III chose the date as the Principality's National Day.
It is also called the Sovereign Prince's Day because the reigning Prince of Monaco traditionally chose the date of the National Day. Â
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| From left: Princess Stephanie, Princess Charlene, Prince Albert II, Princess Caroline. Photo© Monaco_info |
However, Prince Albert II, the reigning Sovereign Prince of Monaco, did not change the date of the National Day when he succeeded his father, Prince Ranier III, in 2005. Instead of moving it back to November 15, the feast day of St. Albert, the Sovereign Prince chose to retain the date of his father's choice.
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| Credit: Getty Images |
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| Credit: Getty Images |
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| © Monaco _info/Getty Images |
We did not see their twins, Prince Jacques and Princess Gabriella, at the mass in the Cathedral, but Princess Charlene shared an adorable photo of her twins in the morning, dressed for the occasion, with Prince Jacques making a military salute. The twins joined their parents later at the parade where Prince Albert II performed a salute.
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| Photo ©HSHPrincessCharlene IG |
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| ©Getty Images |
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| The Sovereign Prince's family © Prince's Palace of Monaco |
This is Princess Charlene's first National Day appearance since 2020. She was not able to attend last year's National Day as she went abroad to seek medical treatment for her mental and emotional exhaustion.
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| Members of the House of Grimaldi © Prince's Palace of Monaco |
Royal Fashion
To mark the celebration, Princess Charlene wore an elegant long white coat dress with a black turtleneck jumper underneath. She matched her outfit with a stylish black hat and a pair of black suede pumps.
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| Royal fashion: Princess Charlene resplendent in a white coat dress |
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| Princess Charlene wore a magnificent new diamond brooch |
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| Princess Caroline and Princess Stephanie. Getty Images |
However, noticeable in her outfit is a magnificent diamond brooch called "Snowflake Noeud". It is a new brooch for Princess Charlene and was reportedly created by Van Cleef and Arpels. The brooch features several diamonds mounted on platinum.Â
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| The Sovereign Prince couple and their twins. Getty Images |
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| We love Princess Gabriella's cute attire with a matching black hat! Getty Images |
Princess Stephanie opted for a red blazer dress while her older sister, Princess Caroline, wore a fuchsia coat dress and a black hat.
Princess Gabriella is so chic in a red coat dress and a black hat. While her twin brother, Prince Jacques, wore a pair of cute military ensembles, just like his father.
National Day in Monaco
The date of Monaco’s National day is traditionally determined by the reigning Sovereign Prince, who picked the date based on the feast day of the saint whom he is named.
So practically, Monaco always changed the date of its National Day depending on who sits as the Sovereign Prince from the House of Grimaldi.
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| The Prince's Palace. Getty Images |
Monaco's National Day celebration began with Prince Charles III (1818 – 1889), the founder of the popular Monte Carlo Casino in Monaco. He reigned in Monaco from 1856 until his death in 1889.
The very first National Day in Monaco was celebrated on November 4, 1857, as declared by Prince Charles III. It coincided with the feast day of St. Charles to whom he was named.
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| Monaco's reigning Sovereign Prince and his wife, Princess Charlene ©The Prince's Palace |
Prince Charles III was succeeded by his only child, Prince Albert I of Monaco (his wife was Lady Mary Victoria Hamilton, a daughter of a British Duke), who changed the National Day to November 15th, in honor of St. Albert’s Day to whom he was named.Â
When Albert I's son, Prince Louis II, ascended to the Monegasque throne, he changed the Sovereign's Day to July 17, 1922, the day of Saint-Antoine Abbé, his granddaughter, Princess Antoinette’s patron’s day, because Louis II's patron saint feast day falls on another of Monaco's national holiday.
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| The Principality of Monaco ©Edzel Lamela |
In 1952, three years after Prince Rainier III's ascended to the Monegasque throne, he declared by Sovereign's decree that Monaco's National Day will be on the 19th of November, the feast day of St. Rainier, to whom he was named.
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| Prince Rainier III and Princess Grace on November 19, 1967, with their young children: Princess Caroline, Princess Stephanie, and Prince Albert |
Prince Albert II succeeded his father, Prince Rainier III, in April 2005. But instead of choosing his own Sovereign's Day, he declared that he will continue the date of November 19 as Monaco's National Day in honor of his father who chose the date.
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| Prince Albert II and Princess Charlene with their twins waved to the crowd © Prince's Palace of Monaco |
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| Balcony appearance of Prince Albert II and family © Prince's Palace of Monaco |
The National Day of Monaco is often celebrated with parades, street festivities, and fireworks. The National Flags and ribbons adorned the balconies of the houses and buildings around the Principality.
One of the highlights of the celebration is the balcony appearance of The Princely family at the Prince's Palace.
The Principality of Monaco
Monaco is a Sovereign State, formally known as the Principality of Monaco, governed by a Sovereign Prince. It is the second smallest nation in the world next to Vatican City.Â
It covers an area of 197 hectares (487 acres) of which 40 hectares (99 acres) have been reclaimed from the sea since 1980.
The House of Grimaldi has been the ruling family of Monaco since 1297, making them one of the oldest still-ruling dynasties in Europe.Â
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| The Prince's Palace of Monaco © Edzel Lamela |
The Sovereign Prince's official residence is the Prince's Palace of Monaco, unlike other European royals, Prince Albert II has only one palace or royal residence due to the small area of the principality. But he is one of the richest European royals with an estimated personal wealth of US$4.0 billion.
The Sovereign Prince is involved with the day-to-day running of Monaco as both a country and a business.Â
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| The Principality of Monaco ©Edzel Lamela |
Unlike other constitutional monarchs in Europe, Prince Albert II, just like Prince Hans-Adam II of Liechtenstein, wields immense political power in the Principality despite his constitutional status.
Monaco is considered a tax haven due to its favorable tax laws and policies. It does not collect personal income tax or capital gains taxes.
There are no property taxes in Monaco, but rental properties are taxed at 1% of the annual rent plus other applicable charges.
Monaco eliminated taxes on dividends paid by local companies and does not charge a general corporate income tax.Â
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| The Sovereign Princely couple of Monaco. Photo: Getty Images |
An individual must intend to stay longer than three months a year to be considered a resident. Individuals must show proof of accommodation for a year and be self-sufficient to be considered a resident of Monaco.
There are practically no homeless in Monaco. All its residents are provided with jobs and rent-controlled housing (if they needed one). Most of its population are wealthy foreigners.
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| The Prince's Palace of Monaco. Photo credit: Edzel Lamela |
Monaco generates its income from tourism, the Monte Carlo Casino (owned by the Sovereign Prince), and luxury goods. About 30% of its 39,520 residents are super rich.Â
As of 2022, Monaco has a zero unemployment rate, meaning all of its residents have jobs (anyway most of its residents are wealthy entrepreneurs). Unemployment refers to the share of the labor force that is without work but available for and seeking employment.Â
However, Monaco remains one of the nations in the world with a high cost of living.
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