Monaco Foundations

A Foundation can be formed in Monaco and is usually for the purposes of humanitarian, medical, sports or other non-profit activities.A Foundation created in Monaco has the folowing key characteristics :

-It can be created in perpetuity or for a fixed period

-It can be created for any purpose which does not offend public policy and which it is seen to be in the public interest

-A Foundation must obtain the approval of the sovereign under Monaco law

-The administrators of a Foundation must be Monaco citizens or have resided there for at least one year

-All foundations are subject to supervisoin by a local commission which has powers to inspect and copy all documents relating to the administration and or accounting and which can dismiss the administrators in certain circumstances

-Approval may take many months and is only granted if the foundation has sufficient assets to achieve its purposes.

Please contact us  for further information