On the French Riviera stands Monaco, a sovereign city-state loved for its excellent weather, luxury lifestyle, and delicious cuisine. But that’s just one part of the picture: with its favorable business environment, optimal financial services, and profitable tax regime, Monaco is attracting high-profile expats from all over the world. Indeed, becoming a Monaco resident has a host of benefits. Monaco residence by investment has become an excellent option to gain residency providing you with all the benefits that the city-state has to offer.
If you are also interested in acquiring Monaco residency, this guide is for you. You will receive detailed information on:
- An introduction to Monaco
- Why Monaco?
- Residency by investment in Monaco
- Benefits of Monaco residency
- Tax benefits
- Process to obtain residence in Monaco
- Residency requirements
- Step-by-step guide
- How to obtain Monaco citizenship
- Practical information about Monaco
An introduction to Monaco
Monaco, nestled in the south-eastern corner of France, is the second smallest country in the world. The city-state provides very good tax benefits for expats, an incredible climate, and is perfect if you are looking to live a truly luxurious and glamorous lifestyle.
Monaco accounts for 2% of the world’s luxury real estate, which is a pretty incredible feat when you consider the small size of the country. Many expats choose to live in Monaco and purchase a property, with there being many magnificent luxury options that attract investors from the world over. The extravagant homes make Monaco a wonderful place to live.
While Monaco boasts luxury, the city-state is also one of the safest countries in the world. With low crime rates and a police force that is well-known for its efficiency, if you are looking to live in Monaco, be rest assured that you are in safe hands.
On top of this, Monaco has a typical Mediterranean climate, sunny and warm — an additional reason why living in Monaco, if you have the finances in order, is an excellent idea.
As the result of its excellent investment facilities, economic and political stability, and that supply outweighs demand in terms of real estate investments, there are many reasons why Monaco is an ideal investment location. Investors that want to place their money in luxury real estate have the world at their fingertips when it comes to Monaco.
Outside the investment sphere, the quality of life is also excellent. With a strong focus on sustainable development and environmental performance, and very good freedom and happiness levels, it is a very good place to live. Indeed, several of the rich and famous have property in Monaco, where they can enjoy a luxurious lifestyle.
Monaco residency by investment
Immigration investment is possible in Monaco. The investment requirements for a Monaco residency permit are:
- To purchase a property or rent a property in Monaco
- To deposit and maintain at least EUR 500,000 into a bank that is duly registered in Monaco and in an account that is under the applicant’s name. This will need to be held with the bank during all times of the residency period.
How can I get Monaco residency?
As per the Monaco residency rules, If you want to stay more than three months in Monaco, you will need to apply for a Monaco residence card. You are able to become a resident in Monaco if you are:
- Self-employed, or the manager, director or holder of a company in Monaco
- Setting up a business in Monaco
- Employed in Monaco
- Have self-sufficient funds
- Being supported by someone
In addition to providing documents that prove your status, you’ll also have to show proof of accommodation in Monaco, evidence of self-sufficient funds, and proof of good character. Non-EU citizens have to bear in mind that it takes around four to six months to acquire Monaco residency.
Note that in order to maintain the validity of the residence card, you will need to reside in Monaco for at least 183 days per year. This is the Monaco residency minimum stay.