Monaco Residency Permit
The Monaco residency permit provides a unique opportunity for individuals seeking to live in one of the world’s most exclusive and luxurious locations. Known for its stunning Mediterranean coastline, vibrant culture, and favorable tax environment, Monaco attracts a diverse range of residents.
Monaco Residency Permit Benefits
Residency and Family Inclusion
- Pathway to a 10-year residence card;
- Step-by-step approach by the authorities who will first issue a 1-year temporary residence card (renewable); then after 3 years of residence the authorities will issue a 3-year residence card (renewable); then the 10-year residence card;
- Right to live (work permit required as applicable
- Possibility to obtain a Tax Identification Number (TIN) after 6 months of residence.
Travel and Quality of Life
- Independent and sovereign state.
- Member of the UN and the Council of Europe.
- Secure and stable leadership in the heart of Europe since 1297.
- Strong legal system and infrastructures.
- Freedom of movement within the Schengen Area.
Ease of Access
- Favorable tax system.
- Competitive real estate market with no capital gain tax.
- Easy renewal of the residency permit if the applicant has spent more than 6 months of the year in Monaco.
- Possibility to apply for Permanent Residency after 9 years.
Monaco Residency Permit Requirements
- Provide supporting documentation and a clean criminal record.
- Proof of sufficient resources to reside in Monaco without having any professional activities.
- For non-EU/EEA nationals, secure a long-stay visa from France
- Pass an individual interview.
- Spend a reasonable amount of time in Monaco.
- Purchase or lease a property for at least 12 months;
- Depositing at least EUR 500,000 into a Monegasque bank account;
- Maintain a minimum residence of 3 months every year.
Monaco Residency Permit Investment Options
Real Estate
Rent (and keep a rental on a yearly basis) or purchase a property in Monaco (a suitable property for the main applicant and dependent).
Bank Deposit
Deposit and maintain at least EUR 500,000 into a bank duly registered in Monaco (min. deposit or asset under management to be checked on a case-by-case basis depending on the selected bank).
Monaco Residency Permit Process
Processing time 9-12 Months
Due Diligence And Application
- Provide supporting documentation and a clean criminal record.
- Proof of sufficient resources to reside in Monaco without having any professional activities.
Approval And Investment
- Lease or purchase a property;
- Select a Monegasque bank;
- Deposit the investment;
- Apply for a “type D visa for Monaco” at the French Consulate/Embassy of the applicant’s place of residence;
Residency
- Upon visa approval, landing in Monaco and apply for the temporary residence card;
- Attend an in-person interview with local authorities.
Request Program Details &
Price Breakdown
With over 30 years of immigration experience, each of Harvey Law Group’s lawyers carefully studies each client’s needs, resources and determines the immigration solution that best aligns with our client’s vision and values.
Frequently Asked Questions
What are the Monaco residency requirements for obtaining a residence permit?
Monaco residency requirements include proving financial self-sufficiency with bank deposits of at least €500,000, having accommodation in Monaco, and demonstrating clean criminal records. The Monaco residence permit process also requires health insurance and proof of no outstanding tax obligations. Harvey Law Group, with over 30+ years of expertise since 1992, specializes in navigating these complex Monaco citizenship requirements, ensuring all documentation meets the Principality's strict standards for successful residency applications.
How much does Monaco residency by investment cost and what are the financial requirements?
Monaco residence by investment requires substantial financial commitment, typically starting from €1 million in property investment plus €500,000 in bank deposits. The Monaco residency by investment pathway doesn't offer a traditional golden visa program like other countries, but focuses on proving financial independence. Harvey Law Group's experienced team helps clients structure their investments optimally to meet Monaco's stringent financial requirements while maximizing tax benefits.
Can anyone live in Monaco and how do you become a resident of Monaco?
Not everyone can move to Monaco - the Principality has strict residency requirements. Can anyone live in Monaco? The answer is no - you must demonstrate financial self-sufficiency, secure accommodation, and pass background checks. The process to get Monaco residence involves multiple steps including documentation, interviews, and waiting periods. Harvey Law Group, operating across 20+ offices worldwide since 1992, streamlines this complex process, leveraging over 30 years of experience to help qualified individuals successfully obtain residency in Monaco.
How to get Monaco citizenship and what's the difference between Monaco residence and citizenship?
Monaco citizenship by investment isn't available - citizenship requires birth, marriage to a Monégasque citizen, or exceptional circumstances. However, Monaco residence offers significant benefits including tax advantages and EU access. To become a Monaco citizen through naturalization is extremely rare and requires decades of residency plus special contributions. Harvey Law Group, recognized internationally as a pioneer in the citizenship and residency by investment industry, focuses on securing Monaco residency, which provides most benefits clients seek without the near-impossible citizenship requirements.
What is the Monaco residency process timeline and how long does it take?
The Monaco residency process typically takes 3-6 months for initial application review, with additional time for document preparation and property acquisition. Moving to Monaco requires careful planning and proper documentation to avoid delays. The Monaco immigration process involves multiple government departments and strict verification procedures. Harvey Law Group's proven methodology reduces processing times through proper preparation and established relationships with Monaco authorities, ensuring efficient residency applications.
How to live in Monaco - what are the requirements to live in Monaco permanently?
Requirements to live in Monaco include maintaining physical presence for at least 183 days annually, keeping financial deposits, and renewing residence permits regularly. The Monaco population is carefully controlled, making residency in Monaco highly selective. Living in Monaco requires ongoing compliance with residency conditions and tax obligations. Harvey Law Group provides comprehensive support for long-term Monaco residents, ensuring continued compliance and successful permit renewals.
Does Monaco offer a Monaco golden visa program and how does Monaco residency by investment work?
Monaco doesn't have a traditional Monaco golden visa program like Portugal or Spain, but offers residency through demonstrating financial independence. The Monaco residency by investment approach focuses on property ownership and substantial bank deposits rather than specific investment amounts. Unlike other golden visa programs, Monaco emphasizes personal wealth over business investments. Can I move to Monaco? Yes, Harvey Law Group explains these unique requirements and helps structure client finances to meet Monaco's distinctive residency criteria for those wanting to move to Monaco.
Can I move to Monaco and what accommodation options are required for Monaco residence permit?
Yes, you can move to Monaco if you meet residency requirements, including securing appropriate accommodation through purchase or long-term lease. Monaco residence permit requirements mandate proof of housing, whether owned or rented for minimum terms. Property options range from studios to luxury apartments, with prices reflecting Monaco's exclusive market. Harvey Law Group assists with property selection and acquisition, ensuring accommodation meets Monaco residence permit requirements while optimizing investment potential.
What are Monaco citizenship requirements and can you get a Monaco passport?
Monaco citizenship requirements are extremely restrictive - citizenship is primarily by birth or marriage to Monégasque nationals. Obtaining a Monaco passport through naturalization requires exceptional circumstances and is rarely granted. How to become a Monaco citizen is nearly impossible for most people. How to become monaco citizen through investment is not available. Most residents maintain their original citizenship while enjoying Monaco residence benefits. Harvey Law Group focuses on maximizing residency advantages rather than pursuing the virtually impossible citizenship path, ensuring clients achieve their tax and lifestyle objectives through strategic residency planning.
How to get residency in Monaco and what documents are needed for Monaco immigration?
To get residency in Monaco requires extensive documentation including financial statements, criminal background checks, health certificates, and accommodation proof. Monaco immigration authorities conduct thorough due diligence on all applicants. The Monaco residence permit requirements and documentation must be apostilled and translated, meeting specific Monaco immigration requirements. Harvey Law Group manages the entire documentation process, ensuring all paperwork meets Monaco's exacting standards and avoiding common pitfalls that delay applications.