- Residency by Investment
Monaco is a very small independent city-state on Mediterranean coastline of France. The 202 ha size and 38 K population city-state is one of the best places to visit and reside on earth. Monaco is well-known for its glamorous beaches, casinos, lifestyle and temper climate. The official language of the country is French, but as Monaco consists by the multilingual and multicultural society, English and Italian languages are also widely spoken. The country has amazing education system and thriving economy. Because of those reasons, everybody wants to settle their money and family there. Monaco is not a member of the EU and therefore EU directives do not apply for it.
It is often said, that Monaco is only for Millionaires. In order to fulfill the mandatory requirements for the residency program:
- The investor has to invest at least 1 million Euro in Monaco.
- From that 1 Million, 500,000 Euro must be kept as a deposit in one of the Monaco Banks. The remaining 500,000 Euro should be used for purchasing real estate and for obtaining the title deed.
- Besides that, the Investor must prove the Monaco Government that he/she has sufficient funds to support his/her family members during the time of residency in Monaco.
- The investor must have a clear criminal record, which will be checked by the immigration service. At the end, the immigration authority will have a private interview with the investor. In case of approval, the investor and his/her family members will obtain the permanent residency status.
- The investor and his/her family members are obliged to reside in Monaco, at least 6 months per year.
- As a Monaco Resident, the investor can establish his/her own enterprise in any business sector of the country. The most famous business sectors in Monaco are Ship management, financial services, Banks etc…
The time for granting residence permit is 1 month for EU nationals and 3 months for non-EU nationals. Monaco has its independent taxation policy, with no income, wealth, capital gain and local taxes. Monaco does not have double taxation treaties with other countries and VAT is 30 %.
The permanent residency is a way to obtain Monaco citizenship in future. The mandatory requirements for obtaining Monaco citizenship are as follows:
- The applicant must be residing for 10 years in the country
- He does not have to be a subject of mandatory military services
- The applicant must renounce his/her primary citizenship, as Monaco does not recognize dual citizenship
Located in the continent of Europe, Monaco shares land borders with only one country, France.
Euro (€) (EUR)
Unitary parliamentary constitutional monarchy
CET (UTC+1) | Summer (DST) CEST (UTC+2)
Reasons to choose Monaco?
- Luxury Lifestyle and safe atmosphere
- Business friendly
- Favorable Tax system as there is no income tax, no wealth tax, no local tax, no capital gains tax and very minimal inheritance taxes.
- Stable real estate market
- Fantastic weather all year around
- Perfect location with Nice International airport 10 minutes by helicopter/30 minutes by car
- Widely Spoken English
- Procedure time – 1 Month for EU nationals and 3 months for non-EU nationals
- Opportunity to get Monaco citizenship after 10 years of residing in the country
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Entry denied: Libya