Right to a Bank Account – Documents to be provided for the opening of a deposit and payment account in Monaco

Ministerial Order n° 2020-664 of 5 October 2020 applies articles 3 and 4 of Law No. 1.492 of 8 July 2020 relating to the introduction of a right to an account (from 17 October 2020) [1].

It contains the list of documents to be provided by persons benefiting from the right to open a deposit account in a Monegasque credit institution, to the chosen institution and, in the event of refusal, to the Budget and Treasury Department.

It should be noted that additional documents may be required by the credit institution as part of its due diligence obligations under Law No.1.362 of 3 August 2009, as amended, on the fight against money laundering, terrorist financing and corruption, as well as the texts adopted for its application.

-> See in addition our publication : Monaco – The right to a bank account will come into force as of 17 October 2020

1] Published in the Journal De Monaco of 9 October 2020