Becoming a resident in Monaco in the context of setting up a business

To become a resident in Monaco in the context of setting up a business, we invite you to contact the  Monaco Welcome & Business Office to discuss your project and obtain useful advice and contacts. They will put you in touch with the Principality's public and private entities, which will facilitate your installation.

In addition, in order to have the details of the steps to follow to create a company in Monaco, you can go to on the government website.

Various legal forms

The main legal forms in Monaco are the following (some of which may be imposed by applicable regulations):

• the S.N.C., general partnership
• the S.C.S., limited partnership
• the limited liability company (S.A.R.L)
• S.A.M, a Monegasque limited company
• Own-account activity
• Administrative office

Some activities are regulated, so it will be necessary to determine whether a permit is required.

In Monaco, the creation and exercise of any self-employed professional activity is subject to prior authorisation by the Government of Monaco.

The permit is issued on the basis of various criteria. In particular, it determines the activities that may be carried out, the premises where they must be located and the conditions of operation.

The Economic Expansion Department makes available to everyone the formalities intended to centralise the procedures to be carried out after the authorisation has been issued.

The company will then have to be domiciled, in order to establish the company's registered office. Several domiciliation solutions are available:  

For persons of Monegasque nationality: State-owned premises.

For all others: Private premises :

At the farmer's home if :

• there is no legal, regulatory or contractual provision to the contrary;
• the commercial activity does not require the reception of customers or the storage or display of goods;
• no employees are hired.

For commercial activities carried out within the framework of an SNC, SCS or SARL, the registered office may only be located at the manager's domicile under the conditions set out above, at the start of the activity and for a limited period of one year, renewable once. However, it is necessary to hold a residential lease for mixed use (residential and office).

In administrative offices:

• In the case of intellectual work, as well as administrative services.
• If staff are hired and if there is customer reception.
• The activity must not be of a commercial, industrial or craft nature and no goods may be delivered or stored.
• The duration of the lease can be from 1 to 5 years maximum.

A minimum working area per employee must be respected (9m2 for 1 employee, 12m2 for 2 employees, 21m2 for 3 employees, 32m2 for 4 employees).
S.A.M.'s must respect a minimum total surface of 25m2 if there are no employees and contract an office lease exclusively.

Furthermore, for a domicile in private premises, the authorisation to carry out a professional activity in a flat must be subject to the prior authorisation of the syndic of the co-ownership in accordance with the building's specifications, and then to that of the owner.

In business centres, in shared or closed offices:

Under certain conditions, several formulas are offered depending on the legal form and the nature of the activity.

In commercial or industrial premises if the activity is commercial, industrial or craft.

• With commercial property, the lease will be concluded for a period of 3, 6 or 9 years. A key money deposit will be required prior to entry into the premises, unless the latter is the result of a takeover of the leasehold rights or the business.
  
  
• Without commercial property:
  
  

  With a precarious lease: maximum duration of 35 months. The tenant must leave the premises at the end of this period. Beyond this period, commercial ownership may be allowed.

  Management lease: the contract, for a fixed term, is governed by law n.546 of 26/06/1951 and is established with the operator of the business subject to the authorisation of the owner of the premises.

Once the authorisation has been obtained, or the Monegasque receipt for the declaration has been issued, the registration formalities must be carried out, the main stages of which are as follows:

• Carry out the publicity formalities and register the company in the Trade and Industry Register.
  
  
• Apply for a Statistical Identification Number from the Monegasque Institute of Statistics and Economic Studies (IMSEE).
  
  
• Declare the existence of the business or company to the Direction des Services Fiscaux.
  
  
• Joining social organisations :

Caisse d'Assurance Maladie, Accident et Maternité des Travailleurs Indépendants (CAMTI)
Caisse Autonome des Retraites des Travailleurs Indépendants (CARTI)
Create an employer file with the Employment Service