In order to run a business in Monaco, whether in trade, industry, crafts or as a freelancer, as a sole trader or as a company, those without Monégasque nationality must acquire a business permit issued by the Minister of State.
One of the most important pre-condition to be granted by the administration is the good morality and a clean criminal record.
The permit is issued according to the following criteria:
- Professional reputation: The professional reputation is assessed according to any criminal or judicial record on the part of the entrepreneur and following an official inquiry.
- Professional qualifications: Professional qualifications must be held in the entrepreneur’s own name. Some activities are subject to specific entry conditions (certificates, nationality, guarantees, etc.)
- The creation of a stable business activity: Authorization is only granted if the operational structure is appropriate to the nature and size of the business.
The conditions for issue of the permit, processing of the application and retaining the licence are laid down by Law n. 1.144 du 26/07/1991, except where a specific law governs the profession.
Persons of Monégasque nationality must send the Minister of State a declaration of business activities unless the activities envisaged are subject to entry conditions defined by a specific regulation or where they are creating a société anonyme (SAM) or a société en commandite par actions (SCA).
Setting up a société anonyme or a société en commandite par actions is subject to specific conditions (authorisation to set up the business, approval of the Memorandum and Articles of Association, share capital of 150,000 €, etc.) ( Ordonnance du 05/03/1895 sur les sociétés anonymes et en commandite par actions and Code de Commerce ).
Do you have a question?
Monaco Wealth Management is working with the some of the most experienced advisors in the Principality of Monaco.
Since 2010 we gained a member base of 9,000 Monaco residents, and our trusted partner, VK*P business advisors have over 3,000 people informed and guided on business and residency matters. If you have any questions about Monaco residency, business formation or business development we are happy to assist you in English, French, Italian and Spanish. Please feel free to contact us.
Selected UHNW Business Club Members
Networking for UHNW Industry Leaders
The UHNW Business Club by Monaco Wealth Management brings together leaders in the HNW and UHNW industry for the purpose of expanding and growing key relationships within this niche market.
UHNW Business Club is running exclusive bespoke networking events designed to connect, educate and expand global business relationships.
To become a member of the UHNW Business Club, we charge an annual membership application of €599.00.
UHNW Business Leaders Networking Evening in London, UK (22 January 2020)
Join us for a wonderful evening at the exclusive Vault Bar and connect with leaders from the UHNW industry from Monaco and London.
22 January 2020 (Wednesday)
18:30 - 21:00
The Vault, Revolution Bars
Live demonstration of the YAMBA platform and a case study on Walt Disney's data transformation.
28 January 2020 (Tuesday)
18:00 - 19:30
CREM (Foreign Residents' Club of Monaco)
1, Avenue Princesse Grace
UHNW Business Club Evening in Monte-Carlo, Monaco (17 April 2020)
Welcome to Monte-Carlo. Join UHNW industry leaders and UHNW business owners for an interactive networking evening in Monaco.
17 April 2020 (Friday)
17:30 - 21:00
TV Art Live Gallery
Rue du Berceau
UHNW Business Club Newsletter
Interested to learn more about the Principality of Monaco?
Monaco: The Essential Relocation Guide
“Monaco: The Essential Relocation Guide” This comprehensive book is dedicated to all current and future residents of the Principality of Monaco.
In this book, contributing authors André C Perry, Charlotte Easterbrook and Zsolt Szemerszky have compiled the most important and vital information required to help guide you through the process of relocating to the Principality of Monaco. Being independent experts, they also spiced up the chapters with their personal knowledge on the relocation process to create this in-depth and essential relocation guide.
Living in Monaco
Living in Monaco book is a professional relocation itinerary written by Zsolt Szemerszky.
A comprehensive, objective and brutally honest book about the Principality of Monaco and its living environment. The author intended to hunt down the myth around Monaco and to go beyond gossips.
It is not a travel book, it is an ultimate guideline to those who are aiming to get a glimpse about the real Monaco and who have the desire to relocate their personal or business life to the Principality.