Original subtitles

Monaco, a miniature nation not much bigger than

Hyde Park, on the French Riviera,

where one in three residents are millionaires.

In Monaco, the helicopter's considered like a car

for most of the people living here.

Prince Albert, the sovereign Prince of Monaco, agreed to let

cameras film last summer behind the scenes of the Royal Palace...

We call him le patron, the boss.

..and in this private playground of the world's super rich...

How much would it cost me to buy 28,000 euros.

..we meet the billionaire residents and those who serve them.

Is it? The rush time, yes.

Any idea how much this would cost me per night?

I don't know the price of the room in the hotel. Just clean the room!

For me, they are like crazy children.

They want more and more and more.

I wake up every morning, I'm like, "Oh, my God,

"I'm living in Monaco. I'm living in a dream!"

Nearly 800 years ago, Prince Albert's ancestor captured this

fortress with his army, disguised as monks.

The family has ruled Monaco ever

since and they have kept hold of the army.

Security for the Prince and the residents

is a key part of the country's success...

..and the Carabiniers du Prince are not just ceremonial.

In the hidden, highly secure basement of their barracks,

Officer Julien Beneton is arriving for his regular target practice.

So, this is the armoury.

And I want to introduce you to the shooting chief instructor...

..Thierry Amey.

What have you got here, Thierry?

This is serious business here. It is serious business, yes.

So, you're not just standing there in your uniform for the tourists?

No, no, no, definitely not.

We are an army, we are here for the safety of the Prince and his

family, so that's our main job, is to protect them, so that's why...

And in order to do this, you need training?

We need training, exactly, yes.

That's why we train a lot here, How often do you train?

Depends on our job and depends on our service,

but I'm going to shoot at least ten times a year.

The Prince himself is leaving his country for a few days.

Can you tell me about the wings? Yeah.

That's for Prince Albert, you know?

Ah!

Accompanied by just one of his security team,

his private jet will take him to a charity bash in Versailles

and then on to the United Nations in New York.

Housekeeping! Housekeeping!

He likes to joke.

Prince Albert has, in effect, absolute power

over one of the richest countries per head in the world.

With his own private army at the ready,

the Prince knows he's leaving the country in safe hands.

Monaco aims to be one of the safest places in the world

and for its wealthy residents, you can't put a price on security.

Aboard his private jet,

the Prince is working on his address to the UN General Assembly.

Is it a bit nerve-racking, giving a speech at the United Nations?

You have to...

..mind your Ps and Qs.

Are you good at that?

I've learned to be good at that.

Monaco has a seat at the UN, the same as China,

a country five million times its size.

As a small country, as a city-state,

we have limited means of influence, but we're neutral.

Monaco's neutrality is, I think, one of our main attributes.

I think that the role of small countries is to

act as go-betweens between big nations.

On behalf of the General Assembly, I have the honour

to welcome to the United Nations

His Serene Highness Prince Albert II of Monaco.

And while the Prince speaks to the UN about saving the environment,

his country's preparing to make itself even richer,

in the place where Monaco's financial miracle began in 1863.

Prince Charles III had this genius idea to allow gambling

because it was forbidden in Italy, forbidden in France.

Before, we were just peasants with oranges, clementines and lemons.

This gambling casino is actually

part of the principality of Monaco,

an independent state with its own rulers and its own laws.

The principality, in 40 years, became terribly rich.

And after, the people of Monaco became very used to

seeing and welcoming very rich people.

It is interesting to know that none of the citizens pays any

taxes in this small but prosperous community.

It is also interesting to know that none of the citizens of Monaco

is allowed to gamble in the casino, only visitors.

The Casino de Monte-Carlo remains a place of world-renowned

mystique and is run today by general manager Pascal Camia.

What's the maximum stake you're allowed here?

Tonight, 150 very special guests have been

invited to the casino for the most exclusive evening of the year,

with the Prince and his sister Princess Caroline in attendance.

And as no Monegasque citizen is allowed to gamble,

all the casino's high-spending VVIPs will of course be foreign.

Do you know them all? Is that your job to...?

They cannot leave the party saying, "Bof, it was so-so."

No, it has to be very unique.

And the casino's Secret Games special evening,

with its 1920s American Prohibition theme,

is designed with precisely those highest of high-rollers in mind.

Every last detail is attended to,

from the caviar starter to the exact choreography of the waiting staff.

And the choice of tonight's wines will be carefully considered.

Here, underneath the Hotel de Paris and the casino,

12m down, lies the most extraordinary wine cellar.

Designed in 1863, this series of caverns holds many stories.

They made it look like there was nothing behind?

Their most special wines, which were not found by the Germans,

are kept safely under lock and key.

This is one of the ones that the Nazis did not get?

Of course, of course.

And they would have drunk it if they'd found it?

Elsewhere in the cellars,

other members of the sommelier team are making a final inspection

before the casino's exclusive event for tonight's

important invited guests.

We are going to test the wine for a special event that will be in

the casino.

Two very good wines.

This one will be around 200 euro

and this one should be around 400 euro.

So, the guests are getting a good...?

They are going... They are going to be very happy.

The man who has the difficult task of approving the choices is

the casino general manager himself.

Is it hard work?

Yes, it's hard work, but you can also see that even if it's tiring,

even if it's very stressful,

sometimes we have some pleasure here in the wine cellar.

I think it's the part I prefer.

No.

Today, the casino doesn't come anywhere near raising

the 95% of national income that it once did.

It needs to attract new types of gamblers from new

parts of the world, and the attempt to understand their new Asian

clients' psychology includes regular sessions where

they literally put themselves in their clients' seats.

Today, as the ballroom is being prepared for tonight's event, they

are feeling the buzz of punto banco,

the preferred Asian game at the moment.

When they play, they are deep in the game.

They focus on the game and nothing else exists.

They can spend days in the casino.

It's part of their culture. I mean, it's pretty different.

And being at the guests' seats,

it's easier for you to understand what's in their mind when they play.

Asian guests like to get the most suspense possible.

This is why they hide the corners of the cards.

They hide them and they bend them slowly,

and they discover the number step-by-step.

Yeah!

How much have you 200,000.

I'm good, I can go to make some shopping. No, I'm joking!

And especially if they win so much as to break

the bank at Monte-Carlo, the winners need to feel safe as they leave.

To protect its wealthy visitors and residents, Monaco has one of

the most extensive and sophisticated CCTV systems in the world.

In police headquarters, Officer Guillaume can see everyone.

Monaco also has an incredibly strict legal code.

You can't walk down the street barefoot or without a shirt,

and don't even think about trying to bring in a camper van.

And if you do break the law, Monaco has a zero-tolerance policy.

Everyone will be prosecuted.

It's of paramount importance.

If you conduct a survey, people, not only living in Monaco,

but wanting to move to Monaco,

if you ask them what the main reason was for their moving here,

I think an overwhelming majority would say

it's the security, it's the safety aspect.

With seven times more police per head of population

than in the UK, this security means people are happy to

show off their wealth, which makes Monaco a centre for exclusive goods.

One of Monaco's top auction houses is run by Louise Grether.

It's her job to sell high-value items, from art to jewellery.

Well, I think here there's definitely more high-end

jewellery pieces and watches because people can wear them here.

I think it's probably the only place in the world where people can

walk the streets with, you know, $1 million around their neck.

Mm, and not be attacked.

So, there are more of them?

So, there are more of these types of people around,

and so I think people like to Why?

Because they know that the buyers are probably here, or they are here,

and they're more likely to sell their piece for a higher price.

Safety and security also enable the royal family to be amongst

the most visible in the world,

frequently seen at events or even on Monaco's streets,

where they are of course protected by the Carabiniers.

And wherever the Prince goes,

he's driven by the trained Carabiniers officers.

Today, in the Palace garage, Julien is showing fellow officer

Pierre the ropes.

There is a lot of quality you need to have to do that job.

First, be a good driver, but then you have to be quiet and discreet

because you have to stay in your place.

It's more the personality than the drive.

So, when you're driving the Prince, for example, how does it work?

Yes. I'm very polite.

Yeah, yeah, we say hello, we say thank you, say goodbye.

The basics.

If he wants. He's the chief.

What sort of things do you talk about?

It's... I can't say that. It's private.

In such a respectful and apparently conservative place,

it's perhaps surprising to head down a side street and find what some

might think of as a subversive new addition to the expensive boutiques.

Tattoos aren't really the image of Monaco, are they?

Isn't it more high heels and designer dresses?

I think it's a lot of girls coming maybe from outside the city

and they are coming to marry a rich man,

but at the end, it's kind of a deal.

You know, when you are 70 and you have a 20-year-old girl,

like really nice, for sure, you know that money can help, you know?

It's not... It's not because you are handsome, you know?

It's because you have money.

In every shop in Monaco,

you have the Prince picture with the Princess.

Has Prince Albert ever No, no.

The brother of Charlene actually came.

But never Albert, never. Maybe one day. I hope so!

But there is one member of the royal family who is

a bit of a regular here.

Camille Gottlieb is one of Princess Stephanie's daughters,

making Prince Albert her uncle.

Camille's father was a Carabinier, a palace bodyguard,

with whom Princess Stephanie had a relationship.

I think it's a perfect... Perfect place.

OK, perfect.

I start tattoos when I was, uh, 17.

17, yes.

Did you have to persuade your mother?

Yes, yes, she was OK with this, so... She has tattoos, too.

So, it's OK for her.

Ah!

It's so cool growing up in Monte Carlo.

We have a lot of security,

everybody knows everybody, but it's a little bit weird sometimes

to be the granddaughter from the Prince Rainier and Grace Kelly,

and the daughter of the Princess Stephanie.

We are the royal family,

so we have to do a lot of things for Monaco, so...

..that's good for us.

I was watching Geordie Shore and I loved that. It's so funny

and so, so cool, but I think my uncle is going to kill me

if they do a reality show here.

No, no, I think, no.

Done. You were really strong.

It's wonderful.

So cute. Like, the eyes, like this.

Perfect.

Bye-bye, Nora!

Mortimer is another tattoo parlour regular.

He's a Monaco resident, currently studying business communications.

So...

It's a bit too much for me.

It's too aggressive, I want to make it more elegant.

So, is there a sort of growing hip scene in Monaco now?

Not really, no.

Like, people here, when they see you've got tattoos and stuff,

it's, like, really judgey.

It's just very wealthy people in such a small area,

that it's just narrow-minded.

So, as soon as you see difference in people...

..you just get judged really quickly.

Why do you stay here, then? Yes.

Well, cos all my family's here and... And it's a beautiful city.

And also, we don't pay taxes, so that's a reason!

As well as its own tax system,

Monaco also has its own legal system.

Originally Belgian, lawyer Pia is now able to practise

at the Monaco bar

because she married her Monegasque husband over ten years ago

and has become a Monegasque citizen herself.

She now runs her own law firm.

Merci!

Pia, why the flowers?

Because today it's my birthday.

Oh, I didn't count! So, do you want to count with me?

It's from my husband.

19, so it's nice. Perfect, that's my age.

He's correct.

My husband is little bit younger than I am, so I'm a cougar.

One of her clients is Louise,

the woman who runs the local auction house,

who recently came to her with a case that is pure Monaco - a dispute

about the ownership of a £25,000 crocodile-skin Hermes handbag.

It's a really well-known Kelly bag, so it's the Kelly.

And so it's quite expensive.

So, this bag was presented at the auction,

and so it was put in the magazine,

and one morning, a lady showed up at the office of the auction

company and said, "Oh, you cannot sell this bag because it's mine."

And so they were amazed and they say, "Oh, OK,

"if you say so, please provide some evidence.

"And then we will withdraw the bag from the auction."

The lady, who said that it was her bag, come with pictures only.

And so we ask the expert, there is one in France,

an expert in crocodile.

I didn't know about that and he said, "No, there is no way

"that could be the same bag because you can see

"the difference in the mark and so..."

At the end, all the experts said it's not the same one, so this

bag was seized by the police in the meantime,

saying we have to wait.

As a lawyer, have you often had handbag disputes before?

No, that's the first one for me. I had a dispute about aircrafts.

Yes, but this one is probably the funniest one, so...

Do you also have a Hermes bag worth 30,000 euros, yourself?

No, no, no.

No, I don't. No, that's a pity. I'd love to.

Pia has some news for her client, Louise.

There has been a complication in the case of the disputed

crocodile-skin handbag.

So, at this stage, I think we are pretty fine, it's almost done.

Normally, we were supposed to get the handbag this week,

but she filed an appeal, but I think it's going to be OK because

the experts said that, you know, here, the line and the scale here

going up...

..it couldn't be the same as this one going down.

When you zoom in, I think you can Yes.

It's a unique handbag. Exactly. It's a unique handbag.

With unique scales and a unique Exactly.

What grounds does she have for an appeal?

It's a mystery for me what she could claim now, you know,

because obviously it's not hers,

so I don't have... I cannot see any reason why they would keep

the bag, you know, at the court, because obviously it's not hers. OK?

So, I'll let you know where we have to go together.

I didn't ask you before, how does an English woman,

like you, end up working in Monaco? I married a Monegasque, actually.

Yes.

And we moved here ten years ago.

Have you become a Monegasque citizen?

What's the process? Please ask Pia.

It's a little bit different In what way?

Because my husband was born French and then he became Monegasque.

So, it's not automatic,

despite the fact we've been married for ten years.

Is Pia giving you legal Yes, she is.

I would like to be Monegasque. I'd be...

I'd feel very honoured to be given the Monegasque passport.

Why do you say that?

Because I feel part of the community. I really do.

I wasn't ready maybe five years ago, I still felt very English

and I was always battling with my husband at various different

points, but now I feel that I belong here and I'll stay here.

And our life is here, I'm not going to move back to England.

The case of the crocodile-skin handbag continues.

And Pia will have to wait a full three months before eventually

retrieving it back from the courts.

At the casino, it's time to return to the 1920s

for the Prohibition-era party.

At the front, the normal punters continue to arrive for general

admission, but for tonight's exclusive event,

the theme is of speakeasies and Prohibition.

The ballroom and private gaming rooms are getting the finishing

touches and in true Prohibition style, the general manager

waits furtively at the side entrance for his high-rolling guests.

Finally, time for the royal arrivals at the Secret Games soiree.

Freshly but discreetly tattooed, Camille joins her uncle Albert

and aunt Caroline.

The Prince and his family's presence is one of the draws

for the casino's top guests, and since its foundation,

the princes of Monaco have taken those high-rollers seriously,

even if by his ancestor's decree, no Monegasque citizen,

including the princely family, can actually gamble themselves.

To keep all the bejewelled visitors safe,

the police patrol the Casino Square.

Suddenly, they get a radio call that there has been an incident.

Guillaume, the night-shift leader, and his colleague Priscilla are told

that two, or possibly three men, are on the run after an alleged theft.

It seems the two men ran away from this store without

paying for a pizza.

No.

Even in a small store like this, there are video cameras everywhere.

Back at base, Guillaume reviews the incident on the 900 CCTV

cameras that capture every corner in Monaco.

The two suspects have been arrested and are being

held in the police cells.

And it turns out, they're both Brits.

Where do you come from? England.

Britain, London.

When are you due back home? Tomorrow.

Yes.

When?

We need to be at the airport early, we have golf clubs.

Now you have to wait. OK?

Please, I was scared so I ran away Why did you scare?

Why? Because you tried to rob No, no!

I've never ever had any trouble with OK.

Toilet?

Yeah, yeah, in five minutes.

The shop doesn't want to press charges for the possible

attempted theft, so the police are letting it drop,

but there are still strict rules to be followed.

It seems like the two Brits have had a lucky escape.

It's said that you should never buy a property with a

sea view in Monaco, because you will lose it.

But Monaco's prison is an exception.

The prison's governor enjoys one of the best views in the principality.

What happened to all the others?

You could argue you have a better view than your neighbour,

the Prince.

Lunch for the prisoners is being served,

and in true Monaco style, it's only the best.

With a maximum of 70 places in 35 cells,

the prison is currently only half full.

For the prisoners, only the five women's cells have a view.

But they have to stand on the bed to see it.

Today, it's not sun.

I think the sun is just beginning Yes.

But you have the sea, it's...

It's amazing for when people are here to see this view

because here, in prison.

So, it's...

It's better.

These bars are a defence against one challenge unique to Monaco -

the increased chances of escape by helicopter.

Why would any criminal come and do their criminal work in Monaco?

This week, the cake is about to grow even bigger, when Monaco

welcomes some of the richest people in the world for

the Monaco Yacht Show, which will bring in

a vast influx of very high-spenders.

For anyone in the business of buying or selling luxury motor yachts,

this event is a very big deal.

There are not that many places in the Mediterranean that combine

everything you've got here. You know,

you've got a huge port that can accommodate four billion euros

worth of tonnage, and of course, you've got the best

hotels in the world all over the hill here,

you've got some great restaurants.

Nice airport is a helicopter ride away, down the coast.

I mean, it's just got everything that our industry wants.

These yachts, worth millions, and sometimes

hundreds of millions of pounds, have become the symbol

of 21st-century wealth.

So, these very large, luxury yachts are a bit like our generation's

expression of people's wealth and achievement.

Back in the 18th century, people built enormous stately homes.

Nowadays, the planners won't let you do that,

so if you have that kind of wealth and you want to build something

spectacular, then, you know, Yeah.

It's not a difficult sell, really, a boat, at the end of the day.

Not at all, not at all.

This annual yacht show will pack in over four billion euros

worth of luxury yachts for sale.

We have a big one coming in here about six o'clock this evening.

Can you give me an idea of how much it would cost me?

I think, off the top of my head, I think it's...

Oh, I don't know. I think it's 120 million euros.

And are there enough people who want to spend 120 million euros?

There are people, yeah.

The top 1% of the ultra-high net worth,

so that's the 1% that we're looking for, the 1% of the 1%.

And everyone here is primed to do whatever it takes to

accommodate the every whim of their special yacht show guests.

Outside the Hotel de Paris,

some of the valet parkers need to go the extra mile.

I'm a chasseur. The chasseur is the person who helps everyone.

It's when a client needs something to buy or to carry.

So, chasseur - you mean you actually Yes. Every day.

Every day.

Yesterday, a guest asked me, "Could you buy for me cigarettes in Italy?"

Whoa. "No." "Please."

So, I call a colleague who live in Italy,

"When you come to work, please buy cigarettes for the guest."

Well, we try to give the smile to our guests.

One day, a guest ate some sushi,

and this guest loved the sushi from the shop.

He told me, "OK, I want - my wife eats this sushi tonight in Moscow."

We buy the sushi, we rent a private jet

and we sent the sushi to Moscow Yeah.

Many who come to the yacht show each year,

do so to keep up with the billionaire Joneses.

But some come just to keep an eye on the latest trends

and possibly to be tempted.

Yeah, I come to the yacht show Yeah.

And is the Monaco Yacht Show the big one for you?

It's the best one of the year. In the world, yeah.

And are you in the market

for potentially buying one?

Oh, I'm always interested. I have my own yacht.

How long?

70-odd metres, 240 foot.

What, possibly a bigger and better one?

Um...

..maybe.

Maybe.

Have you looked at the port? Have you seen the yachts?

Oui, sometimes you take a break, five minutes. By walk,

you take a...look.

And you'll see the most beautiful boats in the world. In the world.

And in this, their busiest week of the year,

the harbour personnel are starting to feel the pressure.

So, what's going on?

Has it changed?

Thank you very much.

Thank you, have a nice day.

So, this time the boat was 45, 50m, it was a very big boat

and now it's a normal boat, I feel.

The big boats are 80, 85 to 100m.

Just as the hotel valet parkers get used to Ferraris

and Rolls-Royces, their yachting equivalents don't seem

remotely fazed by their £100 million clients.

It's easy. If the captain is no too crazy, it's easy.

Do you sometimes have captains Yeah, yeah.

The Russian, the Russian people, incredible, eh?

Bing, bang, boom, catastroph.

That's right.

You follow me, I'll show you berth.

Ventura.

Some yacht, it's the first time I see.

And outside, there is Really?

They can't enter in the harbour.

Wow.

We need to little bit move the boat,

because it's close to the berth.

And Ventura is coming, it's perfect.

The yacht show describes itself as a pinnacle of luxury,

and sure enough, the world's richest

and most demanding customers have begun to arrive.

But it's all in a day's work for the yacht show's director Gaelle,

who is responsible for making sure all runs smoothly.

Yeah? Oh, my gosh.

It's me, it's me. It's too light.

You have to find a way to fix it.

Sorry.

There is a sign missing over here.

Excuse me, the show is open now,

so make sure that you've packed everything.

OK? Thank you.

It's my 21st Monaco Yacht Show.

There's still some little details to finalise.

We are exhausted, but it's not the end of the work

until nothing left on these docks.

For those thinking of joining this exclusive club,

this 47m yacht might be just the one to get them started.

The sales team is being shown around

so they are ready for clients.

What you see here is a on-spec project built by us.

At the moment, it's still available for sale,

but, as you know, people are fighting outside to buy the boat.

Most buyers pre-order a new yacht to be built to their own

specifications, but this company hope that an impatient

millionaire just can't wait the three years it takes to build

a yacht, and will be prepared to jump in.

Owner's office.

We have one of the coolest feature of the boat that is just

here behind you.

Which unfortunately we cannot open because of the boat next to us.

That balcony right here opens up

and gives you that very nice feel of literally living on water.

This Turkish company dream of being at the top end of the market,

where a yacht can cost hundreds of millions.

The asking price is 24 and a half.

Million.

Of course, million euros. This is what is publicly shared.

Of course, there is room for negotiation.

Are you feeling optimistic about Very, very optimistic.

Because they told me that they are fighting already outside

to buy... To purchase the boat.

And they did eventually sell the boat, at an undisclosed price.

Yacht Show week is a busy time, not only for people selling yachts,

but also the Monaco companies who help the world's wealthy

with the running of their complex affairs,

like Bespoke Services, who are today throwing a breakfast

reception for clients.

When new clients come into our office,

the first thing they do is just walk on to the balcony.

And they're just mesmerised by it and say how lucky we are

Yeah.

Carin, Carolyn and their soon-to-arrive partner

Judith are all lawyers by training,

and between them speak half a dozen languages.

They can connect you to any service you need

and help you negotiate all Monaco's many rules and red tape.

We do a variety of things, a lot of the time it starts with

people who are coming to be a resident here, so we can

help them through the process of getting their residence card,

and then it can move on to other things, maybe helping them

find apartments, helping their children get in to school.

And also, you know, no-one is really from here originally.

Of course, there is like, what, 8,000 Monegasque people,

but the rest were all, like, expats, we are all imports.

We'll work with the lawyers, the accountants.

Yeah, that will all be in French but with our clients,

it's actually always in English, and that's why they come to us,

because they prefer to speak in their own language...

And they like our view. And they like our view, yeah.

And our croissants!

Good morning.

This is the year with

the most yachts out at sea.

I think so, too. Yeah.

I mean, look at that, all more than 100m.

And the number of new-builds that are just getting bigger

and bigger and bigger. I mean, we've had five

in the last 24 hours.

Yeah, five new-builds that are

Yeah.

Oh, you mean that have been ordered? That are being ordered. Yeah.

They will be signed in the coming weeks.

So, you know about these sort of things because you're

Well, only because of my clients,

So, you need a structure for that as well.

You don't buy a 100m yacht in your own name.

So...

Yeah, from a liability perspective, it's really important with boats.

Or villas.

Owning a boat isn't like owning a car.

To start with, you have to employ a crew,

and that can get complicated, so Bespoke Services help clients

to form a separate company, which then owns the boat, making sure

the client is not personally responsible

if something goes horribly wrong.

I think around Cannes Film Festival this year, there was

one crewmember that died, because the boats collided.

So, I mean, that sort of thing for an owner is...

It's obviously really important that you have your structures in place.

While Bespoke Services helps clients with legal

and financial issues, Crem, the club for foreign residents,

is its social life equivalent,

helping new or potential residents to adjust to the life of the 1%.

And what do you do? I've got property back home.

Louisette, who founded the club, is as well-connected as it's

possible to be, so knows everything about Monaco society.

I was born in Monaco, but when you are born in Monaco you

keep your nationality, you know, of your parents.

My parents were Italian.

I was Princess Grace's private assistant for 19 years,

and so they gave me Monegasque nationality,

which I'm very happy and proud to have.

Tonight, not much hard sell is necessary.

Monaco seems to be selling itself.

You know, in Italy, what you earn, 50%, maybe more,

you have to give to the government. Here, no.

I can't lie, I think the fiscal advantages are obviously

kind of a big attraction, and so is the education system here in Monaco.

It's very good.

I think the opportunities are greater than back home.

Back home's quite slow. Here, things are more prosperous and growing.

It's like, you can do business but in a nice place, really nice.

And there are some other advantages, Of course, it's...

..very big.

Why?

I feel, like, in a movie. Really, I wake up in the morning and I...

Every day I walk around the city, I feel that I am in a movie

and I like the feeling.

Bright-eyed hopefuls can't see any downsides to life in Monaco,

a safe and luxurious haven at a time of trouble.

The initial kind of reaction from everyone is like, "Oh, Monaco, oh,

"what are you doing there?"

I think, since Brexit, those voices have become a lot quieter.

And people are like "Oh, OK, actually, that's not a bad idea,

"kind of moving out of the country."

I don't know who will have the last laugh, but so far,

so good. Very happy.

Au revoir!

At the club for foreign residents' summer party, you can

meet people who have been here for many years,

and have a bit more perspective on life in Monaco,

like one of the 3,000 Brits who live here.

My daughter described it as luxury Legoland

and I think that's probably about right, actually.

I've lived all over the world and it took me, I think,

a good three years to get used to Monaco, which is the longest ever.

We were lucky enough to buy an apartment 20 years ago,

when it was not so expensive.

He worked for a bank and the mortgage was half

the price of the rental, so it was a no-brainer.

How are you? Hi, Tina.

Usually the man buys a boat, rushes up and down the coast,

the wife gets fed up after a year, and goes back to Haslemere or

wherever she was, cos she can't stand it.

And the guys love it here.

There's a lot of Ukrainians and Russians, you know, particular

restaurants where the girls are this high and the guys are this high.

It just... I don't go to them because I happen not to like...

I just think they're a bit over the top.

Obviously, a lot of very wealthy people try and wind up in Monaco.

Some of them get their residence card, some of them don't.

Yeah.

There probably are some shady people and it is sunny.

Monaco is surrounded on three sides by France,

so they have a very special relationship,

but once you cross the border from the republic of liberte,

egalite and fraternite, Monaco has its own laws,

and the police have the power to check out anyone, any time.

Monsieur! Monsieur!

It's very clear that when in Monaco, Monaco rules apply.

But next day, at the Palace, the importance of Monaco's

relationship with France is on display.

Today is the French ambassador, so it's extremely important that

we keep these relations very positive and very friendly,

like they are.

The brand-new French ambassador is coming to be formally

introduced to the Prince, and the Carabiniers

are in their best uniforms.

Although trained to kill, the Carabiniers also work

as trumpeters, and try not to strike a bum note.

Oh, you can see if he's Yeah.

So, the crowds are not just for the French ambassador,

it's for the changing of the guard.

We don't usually have these kinds of crowds.

What are you serving?

A few...

..fruit juices, waters and a little champagne that will be served cold.

What time of the morning do you start serving champagne?

We'll start serving champagne at 11,

it's the closest we can find to the aperitif time...

..around here.

Over the years,

Monaco's relations with France haven't always been easy, but

Prince Albert is determined to keep France and its new ambassador on side.

Lacking natural resources, Monaco simply could not survive

without good relations with its all-important neighbour.

Prince Albert knows that if he gets this relationship wrong,

France could, at worst, threaten to cut them off.

President Macron's man is treated like no other.

He has been invited to a lunch with the Prince

and all his senior officials.

But that, of course, will remain behind closed doors.

It's the last day of the yacht show

and deals worth billions of euros are being concluded.

This is what the yacht show is all about - making contacts

and selling boats.

We're finalising a deal upstairs at Yes.

Sure, sure!

Heesen is a major Dutch yacht builder and they will take three

years to deliver this boat. Clinching the sale of this one

yacht makes it all worthwhile for their sales director, Mark Cavendish.

Dennis has just come to review the general arrangement drawing

and the specification, and the final contract.

OK, well, if you're happy with OK.

Are you the owner? No, no, I'm an owner's...

The representative of an owner.

This is a 57m full-custom, aluminium motor yacht.

She'll be delivered in 2023.

Presumably, the price has been agreed?

Yes, the price has been agreed.

Are we allowed to know what it is?

I think that it would be...

I wouldn't be able to reveal that information, that would be

confidential for the owner and the shipyard, to be honest.

But Mark can celebrate their deal by showing one

they sold some years ago,

now on the healthy second-hand market, to give some idea

of the luxury specifications the mysterious owner

has just purchased.

That's very nice to have this open in the evening, yeah.

Owner's cabin up here, I remember.

Revolving bed, great view outside.

Well, cheers. Well done.

Cheers, yeah, Congratulations.

Yes.

There is an astonishing amount of money out there.

Across the harbour, there is another deal to be struck.

Marco and his mother, with a keen eye for detail,

are pondering the merits of a new purchase.

Can I just ask, are you interested in potentially buying this?

Yeah, we're living here in Monaco and yeah,

we're actively looking to buy She likes it.

Yeah, because she's really tough.

She's very difficult and picky,

because we have seen a lot, with Yelena also, and, you know,

there is everything on the market, so it's quite difficult also.

So, if your mama approves, that's a good start?

Mama knows best, you know? Plus, I'm Italian, so she is my everything.

For what we have seen so far, it's really pretty.

Also, what she also esteems is the state of the yacht. Molto bene.

Then you'll make a decision?

Hopefully, because we don't visit things that are, of course...

We don't visit things that cost 100 Really, why not?

I need a Russian accent after,

because, you know, I don't have enough money.

You know what they say in Monaco, "If you want a perfect sea view,

"buy a boat."

So, it's the only way to have an uncompromised sea view.

Plus, we love boats, we have a charter before, a smaller one,

and so I think it's just about To buy.

Well, good Thank you.

Fingers are crossed! Big time!

Next time, the extraordinary price of a sea view in Europe's

wealthiest state.

Bling, bling, bling, bling, bling.

It's not cheap. I think it's a bit of a millionaire's playground.

It's on the market for 19 million.

This place is very limited, so the buildings are more expensive.

This space is actually 24 square metres.

It's so small that I have to kind of, you know, walk hunched.

But it works.

That's the price of living It is!