Esteban Ocon’s Tax Haven Dilemma: The Shocking Truth Behind His Residence Choice
The world of Formula 1 is not only about speed and glamour but also about the strategic choices made by drivers, including where they choose to reside. While stars like Max Verstappen and Lewis Hamilton enjoy the tax haven status of Monaco, Esteban Ocon has opted for a different path, residing in Geneva, Switzerland.
Monaco, known for its luxurious lifestyle and iconic Grand Prix, offers residents the perk of zero personal income tax since 1869. On the other hand, Switzerland imposes income tax, with Ocon facing a 45% rate in Geneva. Despite this, it’s still a better deal for Ocon compared to living in France, thanks to the French-Monegasque bilateral convention of 1963, which would subject him to French tax slabs if he lived in Monaco.
As Ocon navigates the tax implications of his residence choice, he is also making waves on the track. Moving from Alpine to Haas for the 2025 season, Ocon faced a challenging start in Australia but managed a remarkable fifth-place finish in China. Despite Haas’ struggles in the midfield, Ocon remains optimistic about the team’s progress and his own performance.
With the F1 season unfolding unpredictably, Ocon’s decision to forgo Monaco’s tax benefits adds another layer of intrigue to his racing journey. As he strives for success on and off the track, the spotlight is on Ocon and his unconventional choice in the high-stakes world of Formula 1.