Monaco: Your Exclusive European Retreat
Monaco is a small but world-famous principality on the French Riviera, known for its beauty, safety, and sophisticated lifestyle. Many people choose Monaco for its warm Mediterranean climate, clean streets, and peaceful atmosphere. Although small in size, Monaco has a lot to offer, such as world-class healthcare, international schools, and a strong financial sector that attracts professionals and families from around the world.
The country is also known for its security, with one of the lowest crime rates in Europe. Monaco’s multicultural environment, luxury services, and easy access to France and Italy give residents a high quality of life in a central European location.
Why Choose Monaco?
Monaco is a small but famous principality on the Mediterranean, known for its safety, warm climate, and beautiful coastal scenery. Life in Monaco feels calm and very high quality.
The country is also one of the most tax-friendly places in Europe, with no personal income tax for residents. Its location is another major advantage, you can reach France and Italy in minutes, and the international airport in Nice is close by.
Monaco Residence Permit
The Monaco Carte de Séjour is a residence permit for foreign nationals who want to live in Monaco for more than three months a year or make it their primary home. It is not an investment program. Approval is based on having accommodation in Monaco, sufficient financial means, and a clean background.
The Monaco residence permit allows holders to live in Monaco and enjoy visa-free travel throughout the Schengen Area for short stays, up to 90 days within any 180-day period. The tax benefits are also one of Monaco’s biggest attractions. Residents do not pay personal income tax, and there is no wealth tax, property tax, or housing tax. The only exception is French nationals, who remain taxable in France under the 1963 convention.
Monaco Residence Permit Financial Requirements
Applicants must show they have enough money to live in Monaco, but there is no official minimum amount. Local banks decide what is sufficient and issue a reference letter after reviewing your finances. In most cases, banks ask for a deposit of around €500,000 for a single applicant, though this can vary.
Your income does not need to be passive. Both active income, such as a salary or business earnings, and passive income, such as savings or financial support, are acceptable as long as they are stable and well documented.
Mónaco Residence Card Categories
The entry-level permit is issued to first-time applicants with no prior residence in Monaco. It is valid for one year and is renewable.
Granted after three renewals of the temporary card, meaning you can qualify once you have lived in Monaco for three years.
Issued after 10 years of continuous residence and commonly referred to as the equivalent of Monaco permanent residency. The residence card also requires a stronger demonstration of genuine ties to Monaco.”
What You Get With GCS
We discuss your goals, motivations, and timeline to determine if Monaco residency is the right option for you.
We guide you through program requirements, explain necessary documents, and prepare you for the application process, including whether you need a French long-stay visa (Type D).
We help you gather all necessary documents, including passports, certificates, proof of funds, accommodation, health insurance, and a detailed CV. We organize your file and prepare it for submission to the Residents Section of the Monaco Government.
We manage the submission, official interview, and communication with Monaco authorities. Applications typically take 2–5 months, depending on nationality and complexity.
Once approved, you receive your Monaco residence card. We guide you on renewal, upgrading to a 3-year card, or eventually the 10-year privileged card for permanent residency.
We’ll Help You Navigate
Yes. Buying or leasing property in Monaco satisfies the accommodation requirement for obtaining a residency permit.
To become a resident of Monaco, you need to provide proof of accommodation, sufficient funds, health insurance, clean criminal record, and for non-EU citizens, a French long-stay visa.
There is no official minimum set by Monaco law, but most banks require a deposit of around €500,000 to issue the reference letter for residency. The exact amount may vary by bank and applicant profile.
No, Monaco is not a member of the European Union, but it has a customs and monetary agreement with France, and residents can benefit from EU market access.
No, individuals genuinely residing in Monaco are not subject to personal income tax. However, French nationals living in Monaco remain taxable in France under the 1963 convention.
Let's Talk About Your Next Move
Whether you’re seeking second citizenship or residency, planning a relocation, or building a cross-border mobility strategy, we’ll help you take the next step.