Monaco Residence

With a land area of only 2 km², the Principality of Monaco is the second-smallest country in the world and one of the wealthiest. The requirements to become resident in Monaco are not as strict as commonly thought, but it is nevertheless advisable to employ a consultant or lawyer to handle an application for residence on your behalf. To acquire residence, you must be able to show sufficient means to be able to afford the lifestyle, in particular, the rent and prices for real estate, which are comparable to big capital cities. Under this offering, wealthy individuals can make a significant investment to the country and become Monaco residents.

Benefits of Monaco Residence

• Visa-free travel across Europe’s Schengen Area
• Secure environment and attractive lifestyle at the border of the French and Italian rivieras
• High standard of living in a multicultural society, with a high quality of sports, cultural, and education facilities
• Residence applicable to the main applicant’s spouse or partner and financially dependent children
• Favorable tax system, with no income, capital gains, or wealth tax
• Stable real estate market offering significant opportunities to investors
• Excellent access by road, sea, and air at the international airport of Nice

Requirements of Monaco Residence

Applicants must satisfy the following requirements:

1. Minimum age of 16 years
2. Police certificate of clear criminal record
3. Proof of sufficient funds to live in Monaco (bank attestation letter)
4. Proof of accommodation (lease or purchase agreement)

Procedures for Monaco residence by investment

Applicants who are not nationals of the EU, Liechtenstein, Norway, or Switzerland or holders of a French residence permit must obtain a long-stay (type D) visa from a French embassy or consulate. After the visa has been granted, applicants must apply for a carte temporaire, which is a temporary residence permit that allows residence for a total period of three years, renewed annually. Following the three-year period, a carte ordinaire is issued and is valid for a further three years. After three consecutive renewals of the carte ordinaire (that is, after 12 years of residence), if the holder spends at least six months per year in Monaco, they may be eligible to apply for a carte privilège, which is valid for a renewable period of 10 years. Investors may establish a company in Monaco only after they have received a carte de séjour (French residence permit).

Acquiring citizenship is difficult because, before qualifying, one must have held a Monaco residence permit for at least 10 years as an adult over the age of 21. Applicants are also not permitted to perform national service abroad and must submit an official letter to the prince renouncing any other sovereign nationality they hold.