A.    Business Entities

(2) Bureau Administratif
         Administrative Office of a Foreign Company

In general, the Bureau Administratif or administrative office of a foreign company may provide internal management, control, co-ordination and representation services to its own foreign-based group or parent company which has industrial or commercial activities abroad.  It does not generate trading profits as such but invoices management fees from the group or parent company. The tax rate is 2.66% of operating expenses.

Incorporation requirements

Applications for authorisation must be sent to the Ministry of State (“Ministère d’Etat”) together with a dossier containing the following documents:

- Two certified true copies of the parent company’s Memorandum and Articles of Association;
- A certificate of incorporation on the Trade and Industry Register in the country of origin;
- A certified true copy of the Board Minute concerning the decision to open an office in Monaco;
- A report giving information about the parent company (date of creation, main activities, country or countries where the company is established, staff employed and so on);
- The organisation chart for the group;
- The budget forecast, including turnover and employees projected for the next three years;
- Statement as to why Monaco has been chosen as a location.

The managing agent must be named and provide the following documents:

- Residence permit, identity card or passport;
- A certificate attesting to a clean police record;
- Information concerning civil status (birth and marriage certificates, divorce papers, spouse’s death certificate where relevant);
- Degrees, diplomas and references;
- Curriculum vitae;
- Completed information questionnaires.

All documents drawn up in a language other than French must be accompanied by an official translation.

Authorisation of th Bureau Administratif is granted for a limited period at the end of which a request for renewal must be sent to the “Ministère d’Etat” or Ministry of State.