MICHELE TECCHIA

1. MICHELE TECCHIA
Michele Tecchiawasborn inMonaco in 1971. He spentmostof hischildhoodandyouthinhisbirth
state.At 16 yearsold, Michele TecchiadividedhislifebetweenLondonandthe principalityafterhis
parent'sdivorce.The real estate experthastwokidswhohe enjoysspendingtime withwhennot
working.Michele alsoenjoyspracticingtriathlons.However,hislifemostlyfocusesonhisreal estate
practice in Monaco. Michele Tecchia’seducational background
Michele TecchiaattendedFinchleyCatholicHighSchool from1986 to 1990. In1990, he enrolledatthe
Universityof Sunderland,earninghisBA (Hons) inManagementBusinessAdministrationand
ManagementGeneral.In1992, the real estate expertpursuedaMaster of BusinessAdministrationat
the Universityof Bedfordshire.Hisbusinessadministrationeducationbackgroundhasplayeda
significantrole inhiscurrentcareer’ssuccess.
Michele Tecchia’scareer
Mr. Michele Tecchiaisan experiencedrealtorinLondon,currentlypracticinginMonaco.He launched
hiscareer as a salesmaninthe photocopierindustry.Hisworkentailedmarketingphotocopiersfor
variousapplications. Michele TecchiastartedbymarketingXerox copiersbefore movingontomore
integratedapplications,likeblackandwhite orfull-colorprinters.Hiscareeradvancedtoprinting
solutionsmarketing,whichallowedhimtoworkonprintingmachine productionprocesses.Thispartof
hiscareer journeyhadhimtravel toAsiaseverally.Between2009, he wentback andforth to Beijing
everycouple of weeks.Asphysicallyandemotionallydrainingasitwas,these tripswere a significant
part of hiscareer.However,Michele feltthe frequent13-hourtripswere turninghislifeupside down.
Theywere especiallyhardonhisfamilyandsocial life.Forthese reasons,MicheleTecchiadecidedto
change hiscareer.
He decidedtoturnhisfocusto real estate.He optedforreal estate because of itsgrowthpotential and
lowerrisksthanthe technologysector.The real estate sectorwasalsoan ideal choice because he could
focuson one destination,the rightdestination.Michele hasalonghistoryinthe real estate sector.He
has investedinreal estate forthe lastnine yearsinFrance,the UK,and Monaco. He has also
participatedinvariouskindsof commercial projectslikevalue addandground-updevelopments.He has
alsoraisedmore than 10 milliondollarsininvestments. Michele Tecchiacurrentlyfocuseshisreal estate
practice in Monaco.
Michele Tecchia:“WhyMonaco?”
In real estate,locationisavital element.Locationdeterminesthe successof the real estate sector.
Like Michele Tecchia,manyreal estate practitionersfocustheirpractice inthisstate.In1948, the
territoryof thisprincipalitywasprimarilyamputated.Inthe mid-19thcentury,thisprincipalitywas
nothingbuta small townknownmostlyfornotprohibitinggambling.ThisattractedFrancoisBlanc,a
successful businessman,toinvestinthisplace.Prince CharlesII allowedhimtosetshopinhere.IN the
1960s, the casinobyFrancoisBlanc saw significantsuccess.Itattractedmanyfortunesinthis
principality.The successof the casinowasthe start of landscarcity inthisstate.The casinoattracted

2. villas,hotels,andluxuryfacilities.Bythe time Prince Rainierinheritedpower,the state wasalreadyan
attractive destinationforinvestorsdue toitsattractive tax laws.Thismade principalityurbanplanning
incrediblynecessary.Thisledtothe principalitybecominganattractive destinationforreal estate
investment.
The real estate sector in Monaco
Thisstate isone of the mostexpensive placesinthe worldforland.The costof land inthisarea is
around48,000 eurosper square meter.Thismakesita fantasticplace forreal estate investment.The
mostexpensiveflatinthe worldwassoldinthisareafor a good 300 millionEuros.Despitethis,this
state is still one of the mostdenselypopulatedplacesinthe world,with37,000 inhabitantspersquare
kilometer.Itisevenmore denselypopulatedthanParis,whichfeatures20,000 inhabitantspersquare
kilometer.
In orderto distribute itsdense population,the state isexpandinginthe sky,underground,andonthe
sea.Land isa rare resource inthisstate.Therefore,the ideaof expandingitsreal estate tothe sky,sea,
and undergroundmakessense.Forthisreason,the cityisplanningtoseize itsbasementsforparking,
water,and waste management.
The fantastic tax system in Monaco
AnotherelementthatattractedMr. Michele Tecchiato practice inthisprincipalityisitsattractive tax
system.The city-state doesnotrequire taxesfromitsresidents,Monegasques,orcompanies.Thisstate
alsodoesnot have a wealthtax.The state makesmostof itsmoneyfromreal estate.Billionairesfromall
overthe worldinvesttheirmoneyinreal estate inthisstate.Accordingto Michele Tecchia,“Thisisa
stronginvestmentforbillionairesall overthe world.”The state earnsmoneyfromthe VATitreceiveson
sellingflatsandnewvillas.Thisstate alsomakesmoneyfromtransferdutiesonthe sale of flats.Forthis
reason,the state strivestomake the real estate sectoraccommodatingforinvestors,includingTecchia
Michele.