Useful Information for Foreign Nationals
The Principality of Monaco encourages foreign investment and maintains a highly favorable environment for business and residency. Real estate transactions occur with absolute freedom, reflecting our commitment to economic vitality and international cooperation.
business_center Opening a Business
Establishing a business entity in Monaco involves several structured steps to ensure compliance and favorable operating conditions. Specific documentation is required based on the entity type (companies, agencies, or commercial entities).
Key Steps
- Determine Entity Structure
- Fulfill Entry Requirements
- Establish Residency (if applicable)
- Secure Necessary Work Permits
- Compile Specific Documentation
- Final Registration and Approval
Documentation
Requirements vary significantly. Commercial entities need detailed business plans and proof of funding. Agencies may require principal authorizations. All entities must clear rigorous background checks.
flight_land Entry and Residence
Monaco maintains strict but transparent procedures for non-French citizens seeking entry and residence, distinct from standard Schengen protocols.
Visits < 3 Months
Standard tourist visa requirements apply. Proof of accommodation and sufficient funds may be requested upon entry.
Stays > 3 Months
Requires a formal application for a Residency Permit. Applicants must demonstrate financial self-sufficiency and secure housing.
Permit Types
Temporary, Ordinary, and Privileged permits available based on duration of stay and employment status.
real_estate_agent Buying Real Estate
Real estate transactions in Monaco operate with complete freedom, guided by established legal frameworks ensuring security for buyers and sellers.
Role of Notaries
Mandatory involvement of a Monégasque Notary ensures legal validity, title security, and handling of registration duties.
Entity Requirements
Individuals face straightforward procedures. Legal entities may be subject to additional transparency requirements regarding ultimate beneficial ownership.
request_quote Tax System Overview
block Non-Applicable Taxes
- Income Tax
- Wealth Tax
- Capital Gains Tax (General)
Profits & Individual Tax
Profits Tax: Levied only on commercial enterprises generating more than 25% of their turnover outside Monaco.
Inheritance: Tax rates vary from 0% (direct line) to 16% depending on the relationship to the deceased, applying only to assets situated in Monaco.
Miscellaneous Duties & VAT
| Category | Description | Standard Rate |
|---|---|---|
| VAT (TVA) | Applied on goods and services, aligned generally with French VAT rates. | 20% |
| Property VAT | Applicable on sales of building land and new buildings (within 5 years of completion). | 20% |
| Registration Duties | Real estate transfers, leases, and corporate acts. Varies by transaction type. | 1% – 7.5% |