Covering just 2 km², the Principality of Monaco ranks as the second-smallest country globally and is also among the wealthiest. Contrary to popular belief, the requirements for obtaining residency in Monaco are not as stringent as one might assume; however, it is highly recommended to engage a consultant or lawyer to assist with the application process. To qualify for residency, applicants must demonstrate adequate financial resources to support their lifestyle, particularly concerning rental and real estate costs, which are comparable to those in major capital cities. This opportunity allows affluent individuals to make a substantial investment in the country and secure residency in Monaco.

Key Advantages of Monaco Residency

• Visa-free travel within Europe’s Schengen Area.
• Secure environment and appealing lifestyle at the intersection of the French and Italian rivieras.
• High standard of living in a multicultural society, complemented by superior sports, cultural, and educational facilities.
• Residency extends to the main applicant’s spouse or partner, as well as financially dependent children.
• Favourable tax system, with no income tax, capital gains tax, or wealth tax.
• Stable real estate market providing significant investment opportunities.
• Excellent connectivity via road, sea, and air, with proximity to the international airport in Nice.

Key Requirements for Monaco Residency

To qualify for residency in Monaco, applicants must meet the following criteria:

• Minimum age of 16 years.
• Police certificate demonstrating a clear criminal record.
• Proof of sufficient financial means to live in Monaco, typically provided through a bank attestation letter.
• Proof of accommodation, which can be demonstrated through a lease or purchase agreement for property in Monaco.

Process to Obtain Monaco Residence by Investment

Applicants who are not citizens of the EU, Liechtenstein, Norway, or Switzerland, or who do not hold a French residence permit, must first secure a long-stay (type D) visa from a French embassy or consulate. Once the visa is granted, the next step is to apply for a carte temporaire, a temporary residence permit valid for an initial period of three years, which can be renewed annually.

After three years, holders of the carte temporaire can transition to a carte ordinaire, which is also valid for three years. Upon completing three consecutive renewals of the carte ordinaire—totalling 12 years of residence—and if they have spent at least six months each year in Monaco, individuals may then be eligible to apply for a carte privilège, which is valid for a renewable period of 10 years.

Investors may only establish a company in Monaco after receiving their carte de séjour (French residence permit).

Monaco Citizenship

Gaining citizenship is a challenging process. Applicants must have held a Monaco residence permit for a minimum of 10 years as an adult (over the age of 21). They must also refrain from performing national service abroad and are required to submit an official letter to the prince, renouncing any other sovereign nationality they possess.