Buying Property in Monaco: Everything you Need to Know

Buying property in Monaco has its exclusive perks. People purchase homes in the country for its high quality of life, long-standing political and economic stability, and attractive tax environment, including no personal income or capital gains tax for residents. Limited land availability keeps demand strong and values high, which make Monaco a secure choice for wealth preservation, luxury living, and long-term security on the French Riviera.  

This article will explain everything you need to know about buying property in Monaco, including the benefits, a step-by-step guide on the purchasing process, costs, property taxes, and the best places to buy a home. 

Buying Property in Monaco: Key Takeaways  

• Foreigners can buy property in Monaco with no nationality restrictions. 
• Property prices are among the highest in the world, and most purchases are completed in cash. 
• All property transactions must go through a notary, who conducts legal checks, prepares contracts, and registers the sale. 
• Buyers usually pay a deposit of around 10% upfront, with notary and registration fees totaling about 6–7% for resale properties. 
• Monaco does not charge annual property taxes, personal income tax, or capital gains tax for residents, and inheritance tax is very low for close family members. 
• Buying or renting property can help qualify for a Monaco Carte de Séjour, the official residence permit. 

01/ Tax efficiency for residents

Monaco does not charge residents personal income tax or capital gains tax, and inheritance tax is very low for close family members. Many buyers purchase property to help qualify for residency, which can make their long-term tax costs much lower than in most other European countries. 

02/ Security and legal certainty

Monaco has one of the highest police-to-resident ratios in the world, extremely low crime, and a stable constitutional monarchy. Property ownership is protected by a strict laws and clear land registry system, giving buyers long-term certainty over their assets.  

03/ Strong wealth preservation despite low supply

Monaco has less than two square kilometres of land and strict building limits, creating a permanent shortage of properties. This limited supply, combined with steady international demand, keeps property values high and helps the market stay stable even during global downturns. 

04/ A lifestyle few countries can match

Property owners gain access to Monaco’s top-tier healthcare system, high-performing international schools, clean public spaces, and world-class infrastructure. Daily life is efficient, safe, and discreet, which is a key reason many ultra-high-net-worth individuals choose Monaco. 

05/ Prestige and international standing

Owning real estate in Monaco places buyers in one of the most exclusive property markets globally. It is regarded as a symbol of financial success and global mobility, and it is often used as a central base for international families and entrepreneurs. 

06/ Strategic access to Europe and beyond

Monaco is minutes from Nice Côte d’Azur Airport, with direct flights to major global hubs. This makes it easy for residents to travel across Europe, the UK, and the Middle East while maintaining a stable home base in the Principality. 

Monaco does not offer a direct residency-by-investment program, but buying or renting property can help you get a residence permit. The Monaco Carte de Séjour also known as the Monaco Residence Permit is required for foreigners staying more than three months and is issued locally by the Monaco Immigration and Residence Department. Non-EU/EEA/Swiss nationals must first obtain a French long-stay visa (Type D) before applying. 

There are three types of residence cards:  

• The Temporary Card (1 year, renewable) 
• The Ordinary Card (3 years, after several renewals) 
• The Privileged Card (10 years, similar to permanent residency). 

 Applicants must show financial self-sufficiency, valid health insurance, accommodation in Monaco, and a clean criminal record. After ten years of continuous residency, holders may become eligible for citizenship. 

Here is a step-by-step guide on the purchasing process for Monaco real estate that is also friendly foreign nationals  

Step 01/ Define your budget and objectives 

Start by setting a clear budget and purpose for the purchase. Buyers usually consider lifestyle use, long-term wealth preservation, or meeting Monaco residency requirements. Property prices are among the highest in the world, and most transactions are all-cash. 

Step 02/ Appoint a Monaco real estate agent 

Work with a licensed Monaco real estate agency. Property listings in Monaco are often discreet and off-market, so local agents are important to access the best opportunities and navigate pricing. 

Step 03/ Secure a Monaco bank account (recommended) 

While not legally required, most buyers open a Monaco bank account to facilitate the transaction, pay deposits, and demonstrate financial standing. This is also useful if you plan to apply for residency. 

Step 04/ Make an offer on the property 

Once you select a property, your agent submits a written offer to the seller. If accepted, the property is reserved while legal checks begin. 

Step 05/ Appoint a Monaco notary (Notaire) 

A Monaco notary is mandatory and is appointed by the buyer or jointly. The notary conducts legal due diligence, verifies title, checks debts or charges, and ensures the transaction complies with Monaco law. 

Step 06/ Sign the preliminary contract and pay the deposit 

You sign a preliminary sale agreement (compromise or reservation agreement) and pay a deposit of around 10% of the purchase price into the notary’s escrow account. 

Step 07/ Notary due diligence period 

The notary carries out all legal and administrative checks. Unlike some countries, Monaco does not require government approval to buy property, regardless of nationality. 

Step 08/ Sign the final deed of sale 

Once checks are completed, you sign the final deed (acte de vente) at the notary’s office. The remaining balance, notary fees, and registration taxes are paid at this stage. 

Step 09/ Pay purchase costs and taxes 

Buyers pay registration and notary fees of approximately 6–7% of the purchase price for resale property (lower for new builds). These costs are paid in full at completion. 

Step 10/ Property registration and ownership transfer 

The notary registers the sale with Monaco authorities. Ownership officially transfers on completion, and you receive the keys. 

Step 11/ Register utilities and property management 

After completion, you arrange utilities, insurance, and, if needed, property management or concierge services. 

Step 12/ Use property for Monaco residency (optional) 

Owning or renting suitable accommodation is a key requirement for Monaco residency. Once you own property, you can apply for a Monaco Carte de Séjour, provided you also meet financial, insurance, and background requirements. 

Monaco is one of the few countries with no property taxes.  Residents also benefit from no wealth tax, and inheritance or estate tax generally only applies to non-direct heirs, while direct family members like children, spouses, or parents are usually exempt. Additionally, residents do not pay capital gains tax when selling property, though non-residents may be subject to taxes in their home country. 

Fontvieille 

Fontvieille is one of Monaco’s most modern districts, built on reclaimed land. Properties are mainly newer apartments with features like parking, concierge services, gyms, and sometimes pools. Buyers like this area for its calm atmosphere, marina views, family-friendly feel, and easy access to shops and offices. 

Jardin Exotique 

Jardin Exotique sits on higher ground and is known for its open views over Monaco and the Mediterranean. Homes here are often larger apartments or penthouses, sometimes at slightly better value than central districts. Buyers are attracted by the space, views, and long-term investment potential. 

La Condamine 

La Condamine offers a more traditional and local Monaco lifestyle. The area has older buildings, renovated apartments, local markets, and a strong community feel. People often choose it for authenticity, proximity to Port Hercule, and everyday convenience rather than ultra-luxury. 

Larvotto 

Larvotto is Monaco’s prime beachfront district. Properties here include luxury apartments and high-end residences along Princess Grace Avenue, many with sea views and direct beach access. Its attractive to those looking for prestige, waterfront living, and proximity to beach clubs and restaurants. 

Monte-Carlo 

Monte-Carlo is the most famous district and the heart of Monaco’s luxury lifestyle. Properties range from historic buildings to prestigious residences close to the Casino Square. Buyers value walkability, access to designer shopping, fine dining, and strong resale demand in one of Monaco’s most prestigious locations.