Service Monaco

Please note that the information herein is of a general nature and you should not act or refrain from acting on it without professional advice on the specific facts of your case. Taxation and law are complex subjects and the information herein is intended only for general information. Nothing herein constitutes financial advice. You should consult a suitably qualified Independent Financial Adviser if you have any investment questions.

Q. Are there any controls on entering Monaco?

A. No you can enter from France by road, air or sea without any formalities.

Q. How long can you stay in Monaco?

A. Three months after which you must obtain a Monegasque residence card.

Q.How do I get this?

A. If you are a national of the EU you apply directly to the authorities in Monaco. You need to provide your birth certificate and passport, evidence you have accommodation in Monaco such as a lease or flat title deeds and proof you have sufficient income from investments or employment to live in Monaco. You must also show you have not been convicted of a criminal offence and are in good health.

Q. What residency card is granted?

A. You usually get a card valid for one year which can be renewed twice after which you get a 3 year card. You are expected to spend at least 3 months in each year in Monaco.

Q. Can you get a longer residency card?

A. Yes. After the 3 year card has been renewed twice you can apply for a 10 year card which usually means you are expected to spend 6 months a year in Monaco.

Q. What about Monegasque citizenship?

A. As you would expect difficult to obtain and completely discretionary. Normally you have to be resident for 10 years.

Q. What about buying a property in Monaco?

A. There are no controls or residency requirement. You would of course only be entitled to stay in the property personally for periods of 3 months.

Q. Why would I use a lawyer to apply for a residency certificate?

A. There is no need. The value of a tax lawyer is in dealing with the UK Revenue and establishing that you are not UK resident which is a main factor connecting you to the UK tax net. The fact that you are regarded by Monaco as resident there does not mean you are automatically not resident in the UK. The UK does not have a tax treaty with Monaco so you will not have the same protection you have in France against double taxation.