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About Monaco Residency

 

Ideally located in the heart of Europe, the principality of Monaco is undoubtedly one of the world’s most attractive places to live and work. Contrary to perceptions that Monaco is an expensive destination, it is actually on a par with many other European destinations.

Monaco does however offer many more advantages over and above other destinations which is why it is still a very popular jurisdiction. French, English and Italian are widely spoken. The principality remains secure and politically stable and holds a strong and well supported banking and financial services community.

The government is actively encouraging individuals and their families and corporations to relocate to Monaco and obtain Monaco residency. The two main ways of applying for Monaco residency are (1) providing proof of sufficient funds to live in Monaco (the applicant will need to deposit EUR 500,000 in a Monaco bank) or (2) forming a Monaco company (this option does not require a EUR 500,000 deposit).

The benefits of Monaco Residency 

No income tax

For resident individuals, there is no income tax and no requirement to prepare and submit tax returns or disclose worldwide income or assets. There is also no wealth, capital gains or inheritance tax.

Low corporation tax

For companies, although the corporate tax rate is 28%, after various allowable deductions, resulting in an effective corporate tax rate of 2.8%. Directors’ fees if taken by resident directors are free of income tax.

Visa-free travel within the Schengen zone

A Monaco residence card (Carte de séjour) grants Monaco residents Visa-free travel to 26 European countries, including France, Italy, Spain and Switzerland. Through the Côte d’Azur airport in Nice, Monaco has easy access to all major international destinations.

No investment required

There is no requirement to purchase a property in Monaco nor is there a minimum property rental charge payable. The EUR 500,000 deposit can also be withdrawn or used if the resident receives approval for the formation of a Monaco company.

Easy application process

The residency application procedures for most individuals and their families is relatively straightforward with minimal paperwork and requirements. From the date of the police interview, the applicants will typically receive their residency card within 4-6 weeks.

High living standard

With sophisticated infrastructure, year-round sunshine and political and economic stability, the principality of Monaco offers unmatched quality of life. It is also among the safest countries in the world and home to an international crowd where English is widely spoken.

Have a Question? Talk to one of our experts

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Proud to be certified by Monaco Welcome

 

Having been in business since 1975, helping individuals and families relocate to Monaco, we are proud to be among the few companies in our sector that are certified by the official Monaco government office to provide these services. You can rest assured that with EBC Trust, you have an experienced and certified team at your disposal for all your Monaco related requirements.

Monaco Residency requirements

 

An outline of the requirements that you will need to follow to obtain Monaco residency are as follows:

1. Obtain a lease or own an apartment in Monaco, and

2. Obtain one of the following:
a) Open a bank account and obtain from a Monaco bank a letter confirming you have sufficient funds (EUR 500,000) to live here; or
b) Show you are employed by a Monaco company;or
c) A document from the government authorising the creation of a business activity by you in Monaco (See also Monaco Company Formation); and

3. Supply additional information to support your application such as a valid passport, birth certificate, and police record. The police record(s) you provide should be from each of the countries where you have resided during the past 5 years. These records should be less than 3 months old at the date of your interview.

4. The completion of the standard Monaco residency application form.

Monaco Residency application process

 

There are a number of requirements to be met to obtain Monaco residency. EBC Trust can assist with your application.

Anyone, over the age of 18, can reside in Monaco for a period not exceeding three months a year without making an application for residency. At 16, children living with their parents in Monaco will need to apply for their own residents’ card.

Individuals (other than Monégasque nationals) wishing to take up residency in Monaco must obtain a Monégasque Residency Card ("Monaco Residency Card" or "Carte de Sejour").

As part of the application process you will be required to attend a police interview in Monaco and present your completed application form.

We at EBC Trust are able to discuss with you how to obtain Monaco residency and your relocation to Monaco as well as provide on-going support.

  • European nationals (EU/EEA) applications

    European nationals (EU/EEA) applying will need to hold a valid national identity card/passport showing their name, date and place of birth and nationality. A French long term visa is not required.

    The process from the police interview will take between 6-8 weeks before your residents’ card is ready for collection.

  • EU/EEA countries

    The EU/EAA countries include: Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, , Estonia, France (Guadeloupe, Martinique, French Guiana, Réunion), Finland, Germany, Greece, Gibraltar ,Hungary, Ireland, Italy, Iceland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Netherlands, Poland, Portugal (including the archipelagos of Madeira and the Azores), , Romania, San Marino, Slovakia, Slovenia, Spain (including the Balearic and Canary Islands), Sweden, Switzerland and Vatican City.

  • Non EU/ EEA applications

    Non EU/ EEA individuals will firstly need to obtain a long term French visa (type D). This can be applied for and obtained from the nearest French Consulate to where you currently reside. Once this is obtained you can proceed with your residency application on the same basis as an EU/EEA individual.

    The process from the police interview in Monaco will take between 2-3 weeks before your residents’ card is ready for collection.

Is this right for you?

 

You are location independent

You are able to reside in Monaco for over 183 days a year

You have a net worth of over €3M or earn over €300,000 a year

Our services include:

 

Preparation of your Monaco residency application.

Attend the meetings in Monaco with you when applying for residency.

Introduce you to local estate agents to help find you a property to buy or rent.

Meetings with local banks in order to open an account and obtain the necessary bank letter.

Assist you with the application to form a business entity in Monaco.

Arranging for the Tax Residency certificate.

Finding a suitable school.

Request a Free Consultation

 

For more tailored information regarding residency in Monaco, complete the form below and a member of our team will contact you.

Alternatively, you can contact us on (+377) 92 16 59 99