Monaco is a highly accessible, in the heart of Europe and offers an exceptional quality of life. Monaco's residents enjoy numerous advantages contributing to this high standard of living:
Monaco offers a very high level of security and an outstanding quality of life
Uninterrupted growth and healthy public finances ensure that Monaco has a diverse economy, focusing on the future.
The Principality's cultural radiance is worthy of the great European capitals and offers a complete and diverse calendar of social events throughout the year.
A unique international hub of 130 nationalities living and working together in harmony, making Monaco the most cosmopolitan country in the world.
The International airport of Nice Côte d'Azur is only twenty kilometres away from the Principality and is easily accessible by helicopter (under 6 minutes).
A key factor of Monaco's attractiveness is its sustainable tax system that emphasizes on indirect taxes (VAT) rather than direct taxes (taxes on personal income).
Monegasques and foreigners residing in the Principality are not liable to income tax, with the exception of French nationals (governed by the Franco-Monegasque bilateral convention of 1963).
However, income tax exemption for individual persons applies only to those residents actually living in the Principality.
The only direct tax levied in the Principality is tax on the Business profits of enterprises generating 25% or more of their turnover, directly or indirectly, outside the Principality (rate: 33.33%).
To summarize, in Monaco there is no wealth, income, estate, housing or inheritance tax for direct filiation.
Installing your permanent Residency in Monaco
Anyone over the age of 16 years, wanting to stay in Monaco for more than three months per year or wishing to establish their residence must apply for a residency permit delivered by the Monegasque authorities.
The terms for foreigners to set up residency in Monaco are based on various conditions that differ depending on the nationality of the applicant.
However in all instances, one must be able to prove:
Adequate housing that is of a reasonable size, adapted to the needs of those living there. That is to say, the owner, administrator, tenant or shareholder of a housing corporation that owns a property.
A close relative, spouse or a person with whom you live as a couple can also house the applicant.
Sufficient financial resources in the form of a salary, income from employment (independent business or through a company),
sufficient saving (in a Monegasque bank which will provide a declaration) or finally being supported by a parent, spouse, or the person with whom you live as a couple.
Proof of good morality by providing a criminal record (or equivalent documentation) issued by the authorities of the last two (2)
or more countries where the applicant has resided over the last five (5) years prior to arriving in Monaco.