Business Formation and Operation
The Principality offers multiple business formation possibilities from a one person sole-trader to a multi-million Euro company. You can easily find a solution for every size of business, and the Monaco Welcome Office will gladly advise you for free regarding the possibilities and the involved benefits they offer.
People typically like formations such as “sole trader”. These businesses are typically run by a single person. Due to the importance of the privacy in the Principality, owners have the chance to choose a trading name instead of publishing their own name. For example, if Mr. James Bond registers a one-person company, he can advertise it as Global Spy Agency Monaco. It is a relatively efficient way to utilise the Monaco address.
There is the possibility to create limited liability companies, which Monaco calls S.A.R.L. (Société à Responsabilité Limitée). It is very interesting to see the economic boost effect of this change. A SARL is formed between two or more people with limited liability to the amount of their capital investment. There is a fixed minimum capital investment of 15,000 euros, which must be released to a bank account at a Monaco-based bank, opened for this purpose. Now days the S.A.R.L. represents one of the greatest benefit for new businesses.
The Principality also offers administrative offices and branches for foreign companies. Administrative offices are established by companies whose registered office is not in Monaco. Usually the sole purpose of this kind of set-up is for management, coordination, or supervision activity. They are perfect solutions for those residents who are not ready, or physically cannot relocate their businesses. These administrative office entities specifically help wealthy foreign business owners and residents.
Typical business types in Monaco
Alternative ways to operate as a business
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Monaco itself provides you with many added values, which you can easily capitalise on, since there are fundamental differences between Monaco and most of the countries in the European Monetary zone.
The names “Monaco” and “Monte-Carlo” are already well-positioned marketing tools for those who are ready to capitalise on their potentials.
In many cases, the sole reason why people open a business in Monaco is to utilise the brand. Having a company in the Principality of Monaco can be also considered as a door opener label, since most people immediately think about wealth and stability when they hear about a Monaco-based company.
It is also considered a great benefit that during the first two years, you have the possibility to operate your business venture from your home apartment, if your landlord accepts it. Usually these properties are labelled as Mixed Usage (Usage Mixte), which basically means that the landlord agrees and acknowledges that a company will be performing in the apartment. It is flexible and it ensures you the necessary timeframe to adjust your business to the local needs before you would invest into a new office. Therefore, many family-owned companies prefer this type of solution.
Administrative Assistance & Concierge Service
Anyone new to the Principality of Monaco might need guidance to navigate through Monaco’s administrative challenges.
The team and partners of Monaco Wealth Management have a full overview about every aspects of your needs. We can point you to the right professionals in all areas, such as estate planning, enrolling your child(ren) to school, they can help you with transportation, insurance and advice you on the best way to integrate with ease into the local community.
Monaco in Key Figures