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How can you be a resident in Monaco?



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There are multiple companies offering their supporting guidance for you and your family regarding the relocation in the Principality.

Any foreigner, except French subjects, who wishes to live in Monaco for a period longer than three months or establish a residence in the territory of the Principality of Monaco must be the holder of a settlement visa.

Supplied with this visa, every foreigner over sixteen years of age is required to request within eight days of his arrival in the Principality of Monaco a resident’s card (Carte de Resident) or residence permit (Carte de Sejour) from the Foreigners’ Section of the Directorate of the Police Service. Do not be confused because the resident’s card and residence permit are actually the same things but many people refer to them with both names.

The residency permit is usually granted for one year only. After the expiration of the one year period you need to request the extension. If the extension is accepted you will receive a new residency permit for further three years.

Until you do not exceed the ten years of continuous residency in the Principality of Monaco you are entitled for three years of residency extensions. After ten years you might be granted a permit for long term residency. In my previous sentence the focus is on the “might” word because there are no guarantees that you will be eligible for the long term residency even if you have spent over tens years in the Principality of Monaco.

Usually there are three ways to relocate in the Principality of Monaco:

  • By getting a job in Monaco
  • By opening a new business entity in Monaco
  • By having the ideal (requested) wealth to afford the living quality in Monaco

Once you are able to successfully acquire your residency permit, which is granted for you and your family, you will have many great benefits in the Principality. However one of the most important thing, which you need to consider is the way of proving that you are actually living for more than six months a year in the territory of Monaco from the date of the issuing of your permit.

Since Monaco offers a zero personal income tax the Government does not check the period of your stay during the first ten years. Obviously they have no reason to do that, since it does not matter how much time you spend in the territory of the Principality of Monaco your personal wealth is tax free.

However in many cases your country of origin requests hard evidences regarding the days you spend in Monaco.

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The rest of this area is exclusively reserved for our registered members. In order to proceed further and see more please login or register a new account.

As a member you can access to our authorised Monaco businesses directory, including detailed personal profiles and access to our Who's Who in Monaco database. Furthermore you will be also eligible to see our Monaco know-how articles and case studies in relocation, business formation and investment in the Principality of Monaco.

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.

E-mail: hello@vkp.mc

Website: http://vkp.mc

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