Monaco Business

Employment

An outline of the Monaco employment system follows. The information provided on employment is necessarly of a general nature and individual cases may differ, particularly in the case of senior executives/managers.

1.  An employee is defined as someone who is employed in any way and for any length of time, whether they are remunerated or not.Apart from catering, there is no concept of casual labour.

2.  All foreign employees must obtain a work permit from the “Service de l’Emploi” (Employment Service) and a new permit if they change employer.

3.  The employer must obtain prior written approval before employing a foreigner and priority is given first to persons of Monégasque nationality where they meet the job requirements.

4.  The employer is obliged to issue the necessary paperwork in order to obtain a work permit for the employee and must take out an industrial accident insurance policy.

5.  The minimum monthly wage is currently 1357.07€ for a standard working week of 39 hours.There is no 35 hours week negotiated.Statutory annual holidays amount to 25 working days with 12 national/bank holidays in addition. Overtime is payable on a set formula of 125% of the hourly salary rate, or time off may be granted in lieu by mutual agreement.

6.  The authorities responsible for the social security system and employer/employee rights are the “Caisse de Compensation des Services Sociaux” (CCSS) and the “Direction du Travail et Affaires Sociales” respectively.

7.  Private individuals may employ both domestic and office staff, providing the individual is registered as a private employer.Private individuals are not subject to the same official employment procedure.

8.  Whilst it is not obligatory to reside in Monaco in order to be employed, an employee should be resident in the surrounding area, either in France or Italy.

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