Monaco
Monaco is considered one of the most ideal places of residence for anyone wishing to reside in a safe European location with high-class leisure facilities, a pleasant climate, and a favorable tax system. Monaco residents benefit from no personal income tax, making the principality a main choice for high-net-worth individuals wishing to relocate to Monaco as their main place of residence.
Monaco Residency Overview
The principality of Monaco, widely regarded as the nation with some of the highest per capita incomes is an attractive residence for the High Net-worth Individual. It boasts of an excellent location along the French Riviera and some of the highest real estate values in the world.
Monaco provides for a great lifestyle and is closely linked to France. Although French is the common language, English is also spoken by most individuals. The main advantages provided by Monaco are that no taxes on Income and Capital are imposed on residents and Citizens of the state.
The process of application for a Residency Permit in Monaco involves many evaluations including the ability of the individual to sustain themselves in the expensive circumstances in Monaco. As such, careful preparation of the application is essential to ensure the success of the application.
Monaco Residency
The first Monaco residency card will be issued for a period of twelve months after which this card must be renewed. The card is called a Monaco Carte de Resident, Temporaire and is renewed each year for the first three years. In then fourth year of continuous Monaco residency the holder then will be issued with a three year card , known as the Monaco Carte de Resident, Ordinaire. These cards are valid for three years and must be renewed at expiry. In year ten, the holder of a Monaco residency may apply for a Carte Privilege which is granted at the discretion of the Monaco authorities. This is not automatically granted and if not granted the applicant will continue to receive the three year Monaco resident’s card.
Residency allows the applicant to live in Monaco as long as desired. After ten years in permanent residency status it is possible to apply for citizenship.
What are the requirements for Monaco Residency?
The minimum amount required by the Monaco government for a residency application is € 500,000 per the main applicant to be deposited in an account in the applicant’s name with a bank in Monaco and which must be held with the bank at all times during the residency period. If renting the lease must be for a minimum of 12 months and have sufficient bedrooms to accommodate the number of persons applying.
To complete the Monaco residency process, an official residency interview will be arranged during which all the required documents are submitted.
How to obtain a Monaco Residency?
Empire, a leading Professional Services & Advisory Firm focused on immigration and residency offers you a simplified path to apply for the Monaco Residency program and secure approvals within the shortest possible time. With our team of immigration experts, you are assured that your application is in informed hands. If you are interested in obtaining more information about this program, please complete the form. One of our representatives will be in contact with you. You can reach us by phone at +60350331665 or visit our website empireglobal.partners. We also look forward to your emails at info@empireglobal.partners. We offer clear written contract agreements mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.
