Why choose Monaco
Setting up in the Principality
Why set up in Monaco?
The decision to set up a business in Monaco is a personal choice - to opt for an exceptional quality of life in a Principality whose international reputation has truly global dimensions.
The decision to set up a business in Monaco is a professional choice - to become part of a dynamic economy which is resolutely turned towards the international world.
In both cases, it is to benefit from a moderate tax system:
- No income tax – except for French and American residents
- No property tax or council tax - No business tax
- No tax on profits for companies if more than 75% of their turnover is made in the Principality
- Vat at 19.6% or 5.5%, the same as in France.
Read foreigners testimonials entrepreneurs settled in Monaco
How do you set up a business in Monaco?
In a personal capacity
Documents required by the Sûreté Publique to obtain a residence permit (carte de séjour):
- Title deeds of property, rental agreement or written proof of accommodation in Monaco
- Work permit from the Principality’s Service de l’Emploi, or bank affidavit proving sufficient means to live in Monaco
- For citizens of countries that are not members of the Schengen area, the international procedures vary depending on their nationality and country of origin. In all cases they need prior agreement from the French authorities. More information is available from the residents section of the Sureté Publique department. Tel: +377 93 15 30 17.
In a professional capacity
Any business activity needs prior authorisation from the Monaco Government.
Some activities are governed by regulations, such as:
- Law n° 1144 from 26 July 1991 relating to certain economic and legal activities
- Law n° 1331 from 8 January 2007 relating to companies
- Law n° 1338 from 7 September 2007 relating to financial activities
- Law n° 1339 relating to Mutual Funds
French regulations apply to Monaco’s insurance sector.
Documents for applying to set up a company are available on the Government website.
There are several ways to set up a company or business
- As an individual (au nom personnel)
- General partnership (SNC - Société en nom collectif)
- Limited partnership (SCS - Société en commandite simple)
- Limited company (SARL - Société à responsabilité limitée)
- Monegasque limited company (SAM - Société Anonyme Monégasque)
- Limited company with shares – (SCA - Société en commandite par actions)
More information on legal forms.
Administration offices and branches require an administrative authorisation.
Government assistance is available with: setting up, prospecting for business, innovation, recruitment, training, industry grants, and through the Eureka network and SACDE (Société d’aide à la création et au développement – helps companies set up and develop).
