Relocation to the Principality of Monaco

Monte Carlo and Monaco stand as the global hub for affluent and discerning clientele.

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Relocation to the Principality of Monaco

Monte Carlo and Monaco stand as the global hub for affluent and discerning clientele.

Get in touch

FOLLOW YOUR ASPIRATIONS

The “carte de sejour,” Monaco’s permanent residency card, permits individuals to live in Monaco without any time constraints. Monaco Citizenship provides a chance for individuals with exceptional reputations to obtain both Monaco citizenship and a passport following ten years of maintaining permanent residency.

Applicants see an alternative citizenship and passport as a powerful strategy for international tax planning and as a contingency plan if the living conditions in their home country deteriorate.

ELIGIBILITY FOR APPLICATION

ACCOMODATION

All individuals applying for Monaco residency are required to provide evidence of housing. The housing must be suitable for the applicant’s family size. This can be in the following forms:

  • Real estate purchase – no minimum transaction size required. Proof of copy deed / purchase contract required for filing the residency application.
  • Real estate rental – minimum duration of one year and rental contract required for filing the residency application.
  • Corporate real estate – The applicant is a director or unit holder of a company which owns a house or apartment in Monaco.
  • Living with a relative – The applicant is staying with a close relative, a spouse, or a partner with whom the applicant is living as a couple.
CLEAN CRIMINAL RECORD
The applicant has not been convicted of any crimes, misdemeanors, or felonies, and there are no legal issues or charges associated with their past behavior.
FINANCIAL WELL-BEING

Each applicant is required to exhibit financial independence. The objective is to assure the Monaco government that applicants can sustain themselves and their families during their residency in Monaco.

This can be showcased by:

  • Bank account – The applicant opens a bank account in his/her name at one of Monaco’s many banks and deposits at least EUR 500,000. The actual amount depends on the bank selected; some banks have higher minimum requirements.
  • Employment contract – The applicant demonstrates paid employment with a Monaco company. The proof of deposit, to be submitted at the time of filing the residency/citizenship application, is a copy of the employment contract.
  • Company formation – The applicant forms a new company in Monaco, providing at least ten new jobs to Monaco citizens or residents. Authorization to form a new company is to be obtained from the government.
  • Family support – The applicant is financially supported by a close relative, a spouse, or a partner with whom the applicant is living as a couple.
TIME SENSITIVE
The application process for residency is expected to take about two to five months to complete.

OUR EXPERTISE & KNOWLEDGE

Assessing your personal financial situation to determine eligibility requires:

  • Preliminary consultation to evaluate the feasibility of relocating to the Principality of Monaco.
  • Assess key goals and objectives of relocation.
  • Compilation of supporting documentation.
  • Presentation of the residency submission for review with a local tax expert.
  • Handling communication with government authorities on your behalf during the application process.
  • Setting up a bank account with trusted partners.
  • Coordinating with local real estate agencies to fulfill accommodation requirements.
  • Providing ongoing support and monitoring the progress of the application.

The timeframe for application processing is approximately two months to five months, or longer if company formation procedure is chosen, subject to having completed all documentation and finalized the proof of accommodation and proof of financial self-sufficiency.

Allure of Residency

A GLOBAL HUB

People might consider moving to Monte Carlo, Monaco, for various reasons. Here are some factors that could attract individuals to relocate to Monte Carlo:

Beautiful Scenery

Situated on the French Riviera, Monte Carlo offers stunning views of the Mediterranean Sea and picturesque landscapes. The favorable climate and scenic beauty can be attractive to those who appreciate a pleasant environment.

Luxurious Lifestyle

Monte Carlo is synonymous with luxury and opulence. Residents can enjoy a high standard of living, upscale amenities, and a glamorous lifestyle.

Safety & Security

Monaco is considered one of the safest places in the world. Its low crime rate contributes to a secure living environment, which may appeal to individuals seeking a safe place to reside.

Tax Advantages

Monaco is known for its favorable tax environment, with no personal income tax for residents. This can be a significant incentive for high-net-worth individuals seeking tax efficiency.

Cultural and Sporting Events

Monte Carlo hosts various cultural events, galas, and prestigious sports competitions. Residents can enjoy a vibrant social scene with events such as the Monaco Grand Prix, the Monte-Carlo Rolex Masters tennis tournament, and the Monaco Yacht Show.

International Community

The principality attracts a diverse and international community. This multicultural environment can be appealing to individuals looking for a cosmopolitan and inclusive community.

Proximity to France and Italy

Monte Carlo’s location provides easy access to both France and Italy, allowing residents to explore neighboring countries and experience different cultures.

Exclusive Real Estate

The real estate in Monaco, including Monte Carlo, is known for its exclusivity and luxury. High-end properties with sea views and proximity to amenities are part of the appeal for those seeking prestigious residences.

It’s important to note that while Monte Carlo offers many advantages, the cost of living can be high, and the real estate market is competitive. Prospective residents should carefully consider their personal preferences, lifestyle, and financial situation before deciding to move to this glamorous destination.