The Principality of Monaco, a small city-state overlooking the clear blue waters of the Mediterranean Sea, is renowned for its charm and wealth. Residence permit in Monaco for investment – is an opportunity to obtain resident status in the most prestigious part of the French Riviera, optimize taxes, and ensure the safety of capital.
Complete absence of direct taxation – no taxes on property, profits, capital gains, real estate tax. Minimum corporate and inheritance tax rates apply.
Benefits of the program
Monaco offers extremely attractive tax and capital optimization conditions for both individuals and legal entities. Monaco residents are exempt from income, luxury, and capital taxes.
Companies registered in the country do not pay taxes on business income if their income outside the country does not exceed 25%. To qualify for the status of a Monaco resident, you need to document your reliability, financial solvency, and the availability of real estate for a living. The residence permit in Monaco also applies to a family member of the applicant.
The terms of participation
To successfully obtain a residence permit in Monaco, the applicant must demonstrate financial solvency, the availability of real estate for residence, and his reliability. There are no strict minimum investment requirements in Monaco to participate in the program. This is because the applicant can, at the discretion, rent or buy real estate, open an account in one of the banks in Monaco, or prove his financial viability in another way.
Minimum investments usually start at € 1,000,000: € 500,000 in bank deposits and € 500,000 in real estate investments. The applicant must have a clean criminal history in the two previous countries of residence in the last 5 years. The relevant documents must be issued no later than 90 days before the application is submitted. The table below shows alternative options for confirming the availability of housing and financial solvency:
Property for living
Buying a property. It is necessary to provide a certificate for the purchased property in Monaco in the name of the applicant. The minimum cost is € 500,000 (tax-deductible).
What you need to show?
Rental Property. A signed contract for at least 1 year.
Corporate real estate. It is necessary to prove that the applicant is the manager or owner of a company that owns real estate in Monaco.
Living with close relatives. It must be proven that the applicant lives in Monaco with a close relative, such as a spouse or partner.
Financial soundness
Bank statement from a bank of Monaco in French. Confirmation of the availability of sufficient funds to live in the territory of the principality. The required account balance varies on average from € 500,000 to € 1,000,000
What you need to show?
Work contract. Proof of employment with salary.
Entity. Proof of receipt of income from the activities of a company registered in Monaco or independent commercial activities in the territory of the principality is required.
Support of close relatives. Proof of financial support from a spouse or partner.
Stages of obtaining a residence permit in Monaco
- Preparation of documents
- Filing an application
An application for a residence permit, along with documents confirming the availability of housing and the financial viability of the applicant, is submitted to the authorities of Monaco.
- Job interview in Monaco
Each application is considered on an individual basis. After applying, the applicant must arrive at the department of the Public Security Administration, which is responsible for issuing the residence permit, for an interview.
- Consideration and verification of the application
Each application is carefully reviewed by authorized services. The data contained in it and accompanying documents are carefully checked.
Approval of the application
The Government of Monaco will communicate the decision by sending a letter to the applicant.
- Obtaining a resident card
Holders of EU passports can expect to receive a resident card within 8 weeks of the approval of the application. For citizens of other countries, this process can take from 16 to 20 weeks. To obtain the status of a tax resident of Monaco, you must have lived in the country for at least six months.
