There are 31 banks in Monaco consisting of private and commercial banks. The majority of private banks are Monaco incorporated banks and the rest are branches of banks incorporated elsewhere.

They are under the supervision of the Bank of France, CCAF (“Financial Activities Supervisory Commission”) and SICCFIN (“Service d'Information et de Contrôle sur les Circuits Financiers”).

Individuals with bank accounts are covered in the event of a banking crisis up to Euros100,000 for cash and deposits per bank and up to Euros 70,000 for securities per bank.

The services offered by Monaco banks, for individuals and corporates, include not only deposit and cash management but also investment and portfolio management, residential mortgages, specialty lending for private aircraft and yachts and other custom financing solutions.

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Opening a bank account-individual


Opening a bank account in Monaco is relatively straightforward. The client will need to provide an original passport or identity card, a recent utility bill showing their current residential address, a marriage certificate if a joint account, together with proof of source of funds and details of their financial situation. The bank documents to be signed to open the account will be in French, usually with an English translation of the terms and conditions.

Opening a bank account-corporate


Where a company bank account is required the bank will require details of the directors and shareholders, a detailed description of the company’s activities, the expected source of funds and turnover. Certified copies of the company’s statutory records will also need to be supplied.

We have well established relationships with a number of Monaco banks and can assist clients with the choice of bank most suitable to their requirements.

Our services include:


Assist with the preparation and provision of documentation.

Provide advice on the due diligence requirements.

Prepare cash flow and bank account management services.

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