“I’m Staying Where I Am”: Despite Opportunity to Save $5 Million, Lando Norris Once Snubbed Tax Haven Monaco for One Simple Reason

Even though Lando Norris ditched life in the United Kingdom to move to Monaco in 2022, he initially was against it. When Norris had the opportunity to move to the Principality, the McLaren driver said that he would prefer to stay with friends and family instead of trying to save as much as $5 million in taxes in his home country.

Norris said to The Times as quoted by Ben Hunt in his Lando Norris: A Biography book, “It is just having fun, being with my mates and seeing my family when I want and it is all easy and I enjoy that. That’s all I want at the moment, and I just want to live my life normally.”

Reason why Lando Norris did not want to move to Monaco in the first place.

Credit: LANDO NORRIS: A BIOGRAPHY by Ben Hunt. pic.twitter.com/GMdIZdDY6T

— TheF1Guy (@Sabyasaachii) December 31, 2023

Norris added that he would not enjoy his time in Monaco, which would mar the reason he became an F1 driver in the first place. He didn’t understand the point of being an F1 driver if he couldn’t have fun in the environment around him. However, the high taxes of the UK forced Norris to move to Monaco eventually.

No F1 driver admits this openly, but Monaco being a tax haven, is a the reason behind so many other drivers moving there. Apart from Norris, many other drivers moved to Monaco to save their taxes. Lewis Hamilton, Max Verstappen, Sergio Perez, Valtteri Bottas are some of the few drivers who reside in the Principality. This shows how the drivers are concerned about saving taxes from their hard-earned money.

How was Max Verstappen accused of evading tax recently?

Max Verstappen, who drives under the Dutch flag  often been accused of evading tax. This was done multiple times by Rutger Bregman, a renowned Dutch historian who repeatedly accused the Red Bull driver of evading taxes.

Notably, Bregman accused Verstappen of evading more than $213 million of taxes as of 2022 after the Dutchman moved to Monaco. This wouldn’t have happened if he stayed in the Netherlands and paid off all his taxes instead of moving to Monaco.

What makes the wealthy flock to Monaco?

Zero personal income tax and capital gains tax.

F1 drivers like Charles Leclerc, Lewis Hamilton, Max Verstappen, Checo Perez, Valtteri Bottas, and Lando Norris get to keep all of the money they earn through salary and sponsorships. pic.twitter.com/m8xjTCSxh6

— Vincenzo Landino (@vincenzolandino) May 28, 2023

However, Verstappen’s manager Raymond Vermeulen refuted the tax claims made by Bregman. He said that his client paid all the taxes on the sporting performances they put in the Netherlands.

Therefore, there is no way Max Verstappen is evading tax from the Netherlands by moving his residence to Monaco. However, his loyalty to the Dutch people has often come under question because of this. Despite this, he is still one of the best athletes to come out of the country.