Moving To Monaco

As part of your decision making process on moving to Monaco you should consider the following matters:

Making a Will
Taking out Life Assurance
Medical insurance
Opening a bank account
Renting an appartment
Electricity, gas and water
Telephone
Car registration
Registering with a doctor, dentist etc
Removal of household items
Customs clearance and import duties
Schools
Tax clearances from the previous country of residence
For UK residents : impact of changes to the existing 90 day rule from April 08
Mail forwarding

Opening a bank account: To open a bank account in Monaco you will need to provide the bank with the following documents :
1-A valid passport
2-An electricity bill(original) not older than three months from your current residence.
3-A copy of the lease or property title.
4-If you are employed in Monaco, a copy of your work contract.

Renting an apartment:In order to rent an appartment in Monaco the following initial costs will usually be incurred :
1-A deposit equivalent to 3 months rent.
2-Three months rent in advance
3-Government registration fee of 1% of annual rent charges
4-Stamp fee : 1 euro per page recto-verso of the lease
5-Agency fee : 10% of annual rent + VAT (19.6%)
Leases are usually for one year renewable 3 months before the end of the initial lease.

Electricity, gas and water: Electricity and gas is supplied by Société Monégasque de l'Electricité et du Gaz (SMEG). Water is supplied by Société Monégasque des Eaux (SME).
Once a moving date has been set, contact the utility provider which will: arrange for a free reading of the meter, close the account and send a final bill to the new address. If the account is not closed, the account holder remains responsible for any use after the move. Monaco uses 127/220V and 50Hz electricity

Telephone: Contact Monaco Télécom office about 10 days before the planned move, giving them notice of termination of contract (if leaving Monaco) or a notice of change of address.

Car registration: To register your vehicule in Monaco you should provide the following documents:
1-A residence card (if available)
2-A lease or a title of property.
3-The last electricity bill or the application for subscription for electricity.
4-A copy of your valid driving license.
5-A copy of your passport.
The renewal takes place annually.

Schools :A crêche service is provided by a number of organisations.There are 7 state run schools, 2 private schools, an international private school and a private university.
Education is compulsory for children from age six to sixteen.The educational program and the diplomas obtained are the same as in France, the only difference being that in Monaco, children begin to learn English in elementary school.

 

Please contact us for further information