Major challenges in Monaco: Prenuptial agreement

 January 8, 2020

The Principality of Monaco
The Principality of Monaco



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A marriage contract is almost a preference (requirement) when you open a bank account in Monaco.

The Principality highly respects your privacy, and the last thing the bank wants to do is to be in the middle of an international financial settlement fight, where they might be legally forced to disclose the assets of their respected clients.

Understanding some people might want to hide their assets under the Monégasque legislation, most banks are making precautionary steps and most of them prefer prenuptial agreements.

It is reasonable, since prenuptial agreements can be useful to protect your wealth and heritage, and waive the banks responsibility to disclose your financial indicators.

The number of people in a household is a key component in the calculation of the yearly living fund, and it can happen that you need to raise your original bank account opening amount to maintain your residency under these (new) circumstances if you are or become married.

Many banks calculate the basic living fund for the statement they provide to the government based on the number of people in the household. Therefore, banks need transparency on your family status.

This is also the reason why it is very difficult to get a residence permit for those who are in a middle of a divorce settlement. Most banks do not want to engage into these kinds of sensitive situations.

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