If you are planning to relocate your office in Monaco and wondering how to go about it, you’ve come to the right place. Here, we have encapsulated all the different requirements of office relocation, based on over 20 years of experience helping companies and business owners relocate into Monaco luxury real estate. The key to a successful move is good planning and accurate information. This document covers all aspects of the move, from selecting a property to rent in Monaco to changing the address on your letterhead. We’ve detailed the various stages of the move below.
- Plan the Move
Nobody chooses to relocate their office on a whim and we’re sure you’re no different. Whatever your reason for relocating – the expiry of your lease, planned expansion/downsizing, changes to company culture, etc – choosing a reputable real estate agency that can help you every step of the way will make this daunting process so much easier. Consider how much time you need for your move, what key features you need your new office to have and how much space you need.
- Choose a Property
Choose a property that is practical, accessible and secure. In Monaco, many properties are permitted for dual use, meaning that some Monaco apartments for rent can be used for business purposes too. Determine a timeframe to carry out the relocation and get the employees involved from the beginning. Hold regular meetings and keep everyone informed to limit any worries or concerns. A complete relocation might take anywhere between 3 to 6 months depending on the size of your company, so staff members should be kept informed throughout the entire process. Conduct a site survey and facility review of current and proposed locations to narrow down your options.
- Assess the Space of Your New Property
Once you have chosen your property, you will need to decide how to use the available office space efficiently. Create a floor plan for your new space that identifies workstations, equipment centres, offices, conference rooms, fixtures and other support spaces. Also, make a list of its shortcomings to anticipate potential problems. Hire an architect if needed for new construction, upgrades and/or build-outs.
Finally, create a budget for the relocation. A budget is an essential planning tool that will help you assess your costs, manage your expenditure throughout the process and measure the success of your move with regard to your business objectives.
Documents & Permits
Paperwork is an arduous but extremely important requirement, particularly when dealing with foreign authorities. Choose a moving company that knows the rules and regulations for Monaco businesses and ensure that you have all the required permits from the Monegasque authorities in place.
In order to change your company’s address, you need to provide an electricity report and hygiene inspection report. Both of these documents are required by the Direction de l’Expansion Economique of Monaco. In addition to changing your address at the electricity board and depositing your company’s updated file at the tax office, your chosen real estate company can help you obtain an official electricity declaration for your previous and new offices. Remember to change contracts with the Monegasque Government after moving into the new office.
The real estate company can also help you obtain a parking permit for the day of the move. A contract is usually drawn for a period of 5 years, which is payable every quarter. Be sure to negotiate the terms of your lease effectively to suit your needs and priorities.
It is critical that your customers and clients are notified about where you are moving to and how the business will operate during the move. We recommend letting your customer base know about the move as early as possible in the relocation process. During the move, make sure everyone carries out their tasks as required to ensure a smooth transition and total client retention.
The relocation doesn’t mean that the process has finished. There are various steps a company must take to re-establish its work environment. You can either retain your old number and get it transferred or order a new telephone number from Monaco Telecom. The same applies to Internet connections, which can be transferred or changed with Monaco Telecom.
Your chosen real estate agency can also suggest some skilled renovation specialists to make the transition smooth for you and your employees. They can help change the name plates, mailbox and buzzer system in the new office. Make sure to change the company address at the Post Office.
Update the address on your signature, website, letterhead and online citations. Announce the change digitally by publishing your new address and location on Google Maps and any business listings. Check on your employees and see if they are comfortable and happy in the new office. Finally, pop open some champagne and introduce yourselves to the neighbourhood!