Establishment in the Principality of Monaco

We assist and advise legal persons and natural persons to complete all of the administrative steps required for their establishment in the Principality of Monaco:

• Setting up companies: Monegasque limited company (S.A.M.), limited liability company (SARL),a limited partnership (S.C.S.),private company (S.N.C.), non-trading companies (S.C.I., S.C.P.)

• Establishing branches and administrative offices of foreign companies

• Establishing sole proprietorships

• Residency Card Applications

Setting up a company in Monaco

Except for Monegasque nationals, the carrying out of any business, trade, industry or profession in the Principality of Monaco is subject to the prior authorisation of S.E.M. the Minister of State, whether that the said activity is carried out in sole trader or partnership/company.

Some regulated activities may also require specific authorization (banking and financial activities, real estate, legal, accounting, etc.).

More information relating to setting up a company in Monaco

Our purpose is to offer our clients a bespoke service so that they can concentrate on the business aspects of their project’s development.

Regardless of the business being contemplated, we assist and advise our clients during the different stages of setting up a legal entity:

• Legal form

• Drafting of Articles of Association

• Definition of the corporate “purpose”

• Drafting of legal documentation

• Collection of the documents required for the application to be submitted to the Department of Economic Expansion, and where appropriate, any other authority at stake.

We also carry out all the “post-authorisation” steps required by Law:

• Registration at the Register of Trade and Industry

• Publication formalities

• Registration of the activity with the Tax Administration

• Registration with social organisations such as social security, etc.

If necessary, we work with different local professionals regarding the search for a registered office, the opening of a bank account, etc.

Regarding non commercial activity, it is worth noting that incorporating a Monegasque Civil partnership does not require a prior authorisation. Consequently, the formalities of incorporation are much simpler. Again, we offer our clients “turnkey” solutions for the development of personal projects relating to real estate, wealth, etc.

As part of the Extended Monaco program (e-government component), Law No. 1.483 of 17 December 2019 provides for the creation and attribution by the State of a digital identity to legal entities (registered in a public service register), and the possibility for persons in the private sector to create and attribute a digital identity to natural or legal persons.

It remains to be noted that the Direction de l’Expansion Économique (DEE) offers a trust service of electronic signature and electronic seal for Monegasque companies registered in the RCI (presumption of reliability on the Monegasque territory). We can act as a certification agent in order to manage the fleet of electronic certificates of your company during their life cycle (registration process including the control of the file and the identity of the holder, renewal and revocation process with the DEE).

Residency Card Applications

Any foreign individual (including EU nationals) older than 16 years old who wishes to have his/her domicile in the Principality of Monaco or who wishes to stay more than three months per year, must apply for a “Residence Card” from the competent authorities.

More information relating to the conditions to obtain the residency card in Monaco

To this end, we assist our clients to complete all of the administrative steps required, and in particular in:

• Obtaining any necessary long-term visas (“visa d’établissement”)

• Collecting all of the requested documents

• Filling out the application form

• Preparing for the preliminary interview

• Renewal of the residence permit after its expiry date.

We also assist the applicant (whose attendance is compulsory) during the interview with the inspectors of the residency department of the Monaco Police.

We ensure the subsequent follow-up of the application, we liaise with the administrative authorities, in particular by providing any potential additional requested information.

We can also refer our clients to real estate agents located in the Principality, when relating to the purchase/renting of a house/apartment, and to local banks relating to the opening of a bank account.

It should be noted that the regime applicable to the residence certificate was recently recast by Sovereign Order n° 8.372 of 26 November 2020. A distinction must now be made between requests for the issuance of a certificate of residence (made to the Public Security Department) “to fulfill a Monegasque administrative formality”, or “to fulfill a formality of a fiscal nature, in particular in the context of the reporting obligations introduced by Sovereign Order No. 6.208 of 20 December 2016″ (automatic exchange of information in tax matters on financial accounts).

Finally, as part of the Extended Monaco program, the Principality has deployed digital identity with probative value for residents. The digital residence card with an electronic memory, issued by the Director of Public Safety, constitutes for its holder both a residence permit and the digital identity medium that he or she can use on the MConnect Mobile application to complete online procedures.