[throwaway60607]

You don't need citizenship at all. Not even permanent or temporary residency. You will become a tax resident of a state even if you have just a tourist visa. You don't need to own the property either, a rental apartment is just fine. Even living in a hotel would work if you can prove it was your "base of operations" during that time.

Not sure what's the distinction between rich and wealthy, sounds the same to me.

[theshrike79]

Rich people have money, wealthy people have assets.

Rich people have high incomes, wealthy people own a lot of valuable things (properties, land, art, stuff that keeps its value).

New money vs old money/generational wealth pretty much.

[throwaway60607]

Well I think I meant something in between. You don't need to be from old money to get a property in Monaco and much less in other places in EU - I got several, and I started literally from 0. And you definitely don't need to be from old money to rent an apartment in Monaco for half a year. A senior software engineer (contractor) could afford it and would profit from the operation if they live in Scandinavia/Germany/Austria/France.

I have a good enough tax regime where I live in Central Europe - for 2022 I paid 8% including income tax, health and social insurance. But I'd definitely consider doing this if it was over 20%.