The Principality of Monaco is an Independent state located on the French Riviera and is well known for its reputation as a thriving business and financial centre. Monaco is considered as one of the most ideal places of residence for anyone wishing to reside in a safe European location with high-class leisure facilities, a pleasant climate and a favourable tax system. Monaco residents benefit from no personal income tax, making the principality a main choice for high-net worth individuals wishing to relocate to Monaco as their main place of residence.
Taxation of new residents
The Principality of Monaco legislates internally on all matters of taxation. Foreign individuals officially residing in Monaco and people with the Monegasque nationality can benefit from zero personal income tax. One exception to this rule is that French nationals who are resident in Monaco do have to pay personal income tax to the French authorities. Monaco does not impose any income tax, wealth tax, local tax, or capital gains tax on its citizens. Additionally, the country collects a corporate income tax and inheritance tax that is minimal in comparison to other countries.
The Principality of Monaco is an Independent state located on the French Riviera and is well known for its reputation as a thriving business and financial centre. Monaco is considered as one of the most ideal places of residence for anyone wishing to reside in a safe European location with high-class leisure facilities, a pleasant climate and a favourable tax system. Monaco residents benefit from no personal income tax, making the principality a main choice for high-net worth individuals wishing to relocate to Monaco as their main place of residence.
Taxation of new residents
The Principality of Monaco legislates internally on all matters of taxation. Foreign individuals officially residing in Monaco and people with the Monegasque nationality can benefit from zero personal income tax. One exception to this rule is that French nationals who are resident in Monaco do have to pay personal income tax to the French authorities. Monaco does not impose any income tax, wealth tax, local tax, or capital gains tax on its citizens. Additionally, the country collects a corporate income tax and inheritance tax that is minimal in comparison to other countries.
Country Highlights
| CAPITAL CITY: Monaco |
LANGUAGES: French, English, Italian |
| SCHENGEN: De Facto Member |
CURRENCY:Euro € |
| TOTAL AREA: 2.02 km² |
POPULATION: 37, 831 |
| LARGEST QUARTIER: Monte Carlo |
TIME ZONE: Central European Time Zone (UTC+01:00) |
Legal Basis
According to the agreement signed on 18 May 1963 between France and Monaco, and to the Sovereign Ordinance no. 3153 of 19 March 1964, anyone wishing to enter into the territory of the Principality of Monaco, and remain for less than three months, must be in possession of a valid document for entering into France.
Individuals who are at least 16 years of age and wish to reside in Monaco for a period exceeding three months must apply for a residence permit (carte de séjour) from the local Monégasque authorities.
Benefits
- Fast process;
- Include Family members;
- Good standard of living and healthcare facilities;
- Schengen Member;
- No income, capital gain, wealth and inheritance tax;
- Friendly to your business.
Eligibility
- Main applicant must be at least 16 years old. The programme may include dependents, who are spouse or partner in a long and durable relationship, children, and parents under certain conditions;
- Applicants should have clean criminal record, verified with the International local police authorities;
- A non-EEA national is required to obtain a long stay visa from France before making an application for Monaco residency;
- Applicants may apply for residence in Monaco to set up a new business activity or a company in Monaco;
- Applicants are required to purchase or rent a property in Monaco;
- Applicants should prove that thee have a sufficient means for living in Monaco.
Process & Timeline
Why Work With Us
