COMPREHENSIVE GUIDE TO ESTABLISHING RESIDENCY IN MONACO

Are you considering relocating to Monaco to enjoy its prestigious lifestyle?
Renowned for its sophistication and attractive tax policies, the Principality offers numerous advantages to its residents.
Unlike Monegasque nationality, which is primarily acquired through lineage, obtaining residency in Monaco is subject to specific requirements.


Here is an overview of the process to obtain a Monegasque residence permit.

REQUIREMENTS FOR RESIDENCY IN MONACO

Any foreign national wishing to reside in Monaco for more than three months per year must obtain a residence permit. The issuance of this permit is based on several key criteria:

1. Securing Accommodation in Monaco

Applicants must provide proof of either renting or purchasing a property within one of the Principality’s districts.
Alternatively, they may demonstrate that they reside with a spouse or close family member who owns a property in Monaco.

2. Demonstrating Financial Self-Sufficiency

Applicants must prove their financial stability through one of the following means :

• A valid employment contract in Monaco;
• Sufficient income from independent business activities;
• A substantial financial capital, with the amount validated by a Monegasque bank;
• Financial support from a spouse or a family member.

3. Providing a Clean Criminal Record
Good character is a fundamental requirement for obtaining residency.
Applicants must present an official criminal record extract (or an equivalent document) issued within the last three months by the authorities of all countries where they have resided during the past five years.

TYPES OF RESIDENCE PERMIST IN MONACO

Monaco offers various categories of residence permits, tailored to the different needs of applicants:
• Temporary Residence Permit – Valid for one year and renewable annually for up to three years.
• Ordinary Residence Permit – Granted for three years and renewable three times
• Privileged Residence Permit – Designed for long-term residents, this permit is valid for ten years.
• "Spouse of a Monegasque Citizen" Residence Permit – Issued to individuals married to a Monegasque citizen and residing in Monaco for at least one year; valid for five years.

To obtain any of these permits, applicants must submit the required documents and undergo an interview with a representative of the Public Security Department. Following this assessment, the authorities will decide on the issuance of the residence permit.

STEPS TO OBTAIN E RESIDENCE PERMIT

Formerly known as a "Carte de Séjour," the residence permit is obtained by submitting an application to the Public Security Department, specifically the Resident Section.

A valid application file must include: :
• A copy of a valid passport;
• Proof of accommodation in Monaco, such as a rental contract or property deed;
• A proof of residence, such as a utility bill.

Once all documents are gathered, applicants must submit their application in person at the offices located in the Stade Louis II complex.

For applicants from outside the European Economic Area, an establishment visa must be obtained from the French consulate responsible for their last place of residence. This visa is mandatory before applying for a Monegasque residence permit.

FAVORABLE TAX SYSTEM FOR MONEGASQUE RESIDENTS

Monaco is known for its highly advantageous tax regime. Like Monegasque citizens, holders of a residence permit are not subject to personal income tax. However, an exception applies to French nationals, who, under a bilateral agreement between France and Monaco, must continue to declare their income in France and are subject to withholding tax, even if their primary residence is in the Principality.

This tax framework makes Monaco particularly attractive to entrepreneurs and self-employed professionals. Independent workers benefit from a complete exemption from taxes on business profits and financial transactions, further enhancing the Principality’s reputation as a prime business hub.

ACQUIRING MONEGASQUE NATIONALITY WITHOUT LINEAGE

With only 25% of its population holding Monegasque nationality, the Principality imposes strict regulations on naturalization. Individuals without Monegasque lineage may apply for citizenship under specific conditions.

The applicant must have resided continuously in Monaco for at least ten years after reaching adulthood. Additionally, they must be exempt from any military obligations in their country of origin and must renounce their previous nationality.

Monegasque nationality is granted at the sole discretion of the Sovereign Prince, who carefully evaluates each application based on the applicant’s background and character. It is not an automatic right but rather a privilege awarded by the state.

Marriage to a Monegasque citizen also provides a pathway to naturalization, but only after twenty years of marriage. Moreover, this option is only available if the Monegasque spouse did not acquire their nationality through a previous marriage.