Monaco residency by investment

Monaco may be one of the smallest countries in the world (second only to the Vatican City), however its status as the world’s most luxurious destination means it is the home of choice for an ever-growing number of high-net-worth-individuals, ultra-high-net-worth individuals, and billionaires.

The Principality’s multiple lifestyle benefits, tax advantages, and enhanced levels of political and economic security, means that more than 140 nationalities call Monaco home. There are several ways to gain Monaco residency and call the spectacular Mediterranean country of Monaco home. If you are thinking of moving to Monaco from the UK, or any other country, read on. Here, we explore Monaco’s residency requirements and how you can call the Principality home.

What are the benefits of Monaco residency?

There are many benefits to gaining Monaco residency, enabling you to permanently base yourself in the Principality. These include:

Tax: Monaco boasts a mild tax regime, with no direct income tax, property tax or wealth tax, offering a favourable destination to protect wealth for future generations.
Security: Monaco is consistently ranked as one of the world’s safest countries, according to the World Risk Index. Enforcing the Principality’s zero-tolerance on crime, the city-state boasts a 1 to 100 ratio of police to residents. The Principality is also monitored by a state-of-the-art 24-hour video surveillance system.
Lifestyle: Residents of Monaco enjoy an ultra-luxurious lifestyle that has been built around the needs and desires of the world’s wealthiest individuals. When you reside in Monaco you will enjoy immediate access to the world’s finest designer boutiques, Michelin-starred restaurants, lavish resorts and spas, and world-class service providers.
Strategic location: The Principality of Monaco enjoys an enviable location in the heart of the Mediterranean along France’s acclaimed French Riviera. Residents enjoy easy access to the Nice Cote d’Azur International Airport via Monaco’s heliport, which offers both domestic and international flights, as well as a private jet terminal.
Political & Economic Security: Monaco is considered a safe haven, with robust financial regulations in place and a vibrant economy. The real estate market is especially secure, boasting a superb return on investment and no restrictions on foreign ownership.

What are the eligibility requirements to obtain Monaco residency?

There are several ways to obtain Monaco residency, or a Monaco Golden Visa, and it’s important to note that conditions vary based on the applicant’s nationality.

However, the most common way to obtain residency is by:

Renting or buying Monaco property. The property must be large enough to accommodate everyone living there.
Providing proof of sufficient funds to live in Monaco, ordinarily by opening a bank account in Monaco and by depositing 500,000 Euros, which must be held by the bank throughout the residency period.
Providing a clean police certificate.

It’s important to note that Monaco residency is not the same as Monaco citizenship. Monaco residency offers the right to live and work in the country, however, you are still considered a foreigner. Citizenship offers you the opportunity to become a Monegasque and form a complete legal relationship with the Principality, including full political rights. However, as dual citizenship is not allowed, those wishing to become a citizen must relinquish all other passports held.

Read more about how to become a Monaco resident and start the process of making the city-state your permanent home.

Real estate, either by making a property investment or via a Monaco rental, is a key step for those wishing to secure Monaco residency. The process of buying real estate in Monaco is relatively simple, especially when you have the expertise of an experienced real estate agent to support you, such as the team at La Costa Properties Monaco. We can help make the process of securing the right Monaco property seamless by assisting those seeking to move and reside permanently in Monaco.

The Principality offers a wonderful selection of apartments to suit all individuals, including single professionals and families. Our collection of Monaco properties for sale as well as our Monaco rentals include elegant studios to 5-room plus apartments, as well as ultra-luxurious villas and penthouses in the Principality’s most sought-after residential buildings and districts. Many of our properties for sale and rent are located in modern residential buildings that boast excellent amenities, including concierge services, fitness suites, swimming pools, and private parking.

For those seeking to purchase a Monaco property, the real estate market has provided excellent returns in the past decade and is now the world’s most expensive property market. Indeed, according to the latest Monaco Real Estate Observatory Report, Monaco real estate prices have risen by just over 38% in the past decade, offering superb returns for investors.

The Monaco residency application process

If you are 16 and over and intend to reside in Monaco for more than three months in each calendar year, then you must apply for Monaco residency. The application process is as follows:

The first step to the Monaco residency application process is to fill in the official residency application form, which can be found on the official Monaco government website.
Supply any relevant property deeds or rental lease agreements, as well as a recent electricity bill as proof of accommodation in Monaco.
Supply proof of identification, including a valid passport, identity card, and birth certificate.
Supply a clean police certificate from countries you have lived in over the past five years
Supply proof of sufficient financial resources.
Once all the above requirements have been met you must book an appointment with the Resident’s Section for an interview, where you will be asked about your professional background as well as details about your family.

If your application is successful, a resident’s card is typically issued within a maximum time frame of six weeks and is valid for one year.

Living in Monaco

To live in Monaco is to enjoy life at its most luxurious, within a safe, secure, and ultra-exclusive community with other, like-minded individuals.
Every facet of Monaco has been designed to meet the needs of the world’s wealthiest individuals, from superb real estate investment opportunities to world-class service providers and magnificent events, such as the F1 Monaco Grand Prix and Monaco Yacht Show.

We can help individuals seeking to reside permanently in the Principality find their ideal property, one that aligns to their lifestyle and investment goals.

If you would like to learn more about Monaco residency and making a real estate investment, contact the team at La Costa Properties Monaco. We would be delighted to handpick a selection of Monaco properties that meet the residency criteria and your personal needs. Alternatively, you can browse our exclusive collection of Monaco properties for sale. We look forward to helping you to make a smooth transition to the Principality.