IMMIGRATION FOR ENTREPRENEUR

MONACO

MONACO: OUR MISSION

Monaco is known for its generosity to aspiring successful people. Full of opportunities tailored to the exceptionally affluent populations, Monaco is the perfect location to begin your next venture. Our Monaco Inimex Business Immigration team provides a complete range of highly specialized immigration services for our business clients, inviting foreign nationals from around the world to set up a business in Monaco.

In Monaco, we are currently handling two highly requested immigration paths to Monaco residency:

    1. A Residence Permit in Monaco for financially independent applicants and retired people;
    2. A Business Immigration Option for Entrepreneurs.

This page will provide you with the necessary information regarding the immigration option for entrepreneurs. For the option of financially independent applicants, please click on the dedicated page for wealthy individuals.

In collaboration with our colleagues in Monaco, ranging from accountants, tax lawyers, business advisers and consultants, our Monaco Business Immigration Service team at Inimex offers an outstanding relocation service for foreign businesspersons looking to settle down in this affluent city at the coast of the famous French Riviera region.

With our assistance, foreign investors and start-ups, as well as their families, can quickly and directly access our team member responsible for their immigration process.

Inimex offers clients the following services :

    1. Expert advice on legal questions relating to business visa and acquiring residency permit upon arrival;
    2. Assistance in creating a commercial company in Monaco;
    3. Registration with the tax authorities and the Minister of State;
    4. Application of the necessary documents and follows up with the local organisations (Direction de l’Expansion Economique) in order to establish a company in Monaco.

If you require more assistance with regards to the immigration process to Monaco via entrepreneurship, our Monaco office will be at your disposal for any question at : Tel/WhatsApp/Viber +377 607 933 859 (Monaco), Skype: Linimex.

MONACO: REQUIREMENTS

The following is a general list of requirements if you are about to establish a business in Monaco:

    1. Obtain preliminary authorization from Monaco authorities to create a business in the country that is deemed to be productive or supportive of the national economic future and sustainability;
    2. Justify sufficient financial funds to support yourself and your family during the initial period of Monaco residence;
    3. Present proof of accommodation in Monaco (long term lease agreement or purchase agreement in Monaco).

There are five (5) types of businesses you can set up in Monaco in order to qualify for the immigration program for entrepreneurs:

    1. SARL (société à responsabilité limitée), a limited liability company: minimum share capital of EUR 15,000, must have at least 2 partners and carry out commercial activities;
    2. SNC (société en nom collectif), a collective company: must have at least 2 partners, carry out commercial activities and every partner must be able to participate in trading;
    3. SCS (société en commandite simple), with both active and limited members: must have a least 1 active partner and a minimum of 1 limited partner;
    4. SAM (Société Anonyme Monégasque): minimum share capital of EUR 150,000, no trading activities required;
    5. Sole trader: you are the only active member of the company.

Regardless of the type of business you wish to set up, you would have to file for a permit in order to be granted preliminary approval by the relevant authorities in Monaco. Inimex will be able to assist you in obtaining the permissions.

MONACO: FAMILY MEMBERS

Your spouse and children under the age of 16 are included in the application and will obtain the same immigration status and residence card.

MONACO: LAWS AND REGULATIONS

Ordonance n. 3.153 du 19/03/1964 relative aux conditions d’entrée et de séjour des étrangers dans la Principauté.

MONACO: LIST OF DOCUMENTS

Please note that Monaco has a tendency to alter their legal clauses regarding businesses unexpectedly. The following information is for reference only and for the most up-to-date information, you are always welcome to contact our Monaco office, which would be glad to assist you.

Every business may require different kind of sets of documents. However, regardless of the business you wish to establish, these common documents have to be provided to the relevant authorities:

    1. The completed form of “Application for permit to carry out a business activity in the Principality of Monaco”, which allows the officials to know your intent to create a business, the nature of the business and other relevant information that may potentially affect the outcome of other governmental bodies decisions;
    2. The “Personal Information” form, which would inform the Monaco government about your personal history;
    3. A civil-status document for each business partner that you wish to perform your business with in order to complete the relevant requirements for the satisfaction of the programme:
      i. A certificate of Monaco nationality or copy of his or her ID card in the country for Monaco citizen;
      ii. A photocopy of his or her residence permit for residents of Monaco;
      iii. A copy of the ID card or passport for foreigners who have not obtained Monaco citizenship not any Monaco residency;
    4. Birth certificate;
    5. Marriage certificate (and/or divorce certificate if applicable);
    6. A copy of the applicant’s criminal record, issued less than three months from the date of the application by relevant authorities in all regions that the applicant has resided for more than 1 year. This should be obtained from:
      i. The General Court Registry of Monaco for Monaco residents;
      ii. The national criminal records office for persons residing in France;
      iii. Local police offices of the country of origin for foreigners who are not residing in France at the time of the application;
    7. Proof of accommodation in Monaco;
    8. Proof of sufficient source of income to cover living expenses in Monaco;
    9. Motivation letter.

MONACO: PROCESS

The following is a sample process for you to move to Monaco through the investor immigration procedure. We understand that every businessman has different ideals and needs. Therefore, the following is for reference only. If you require any assistance or have any question regarding to any detail of the process, please contact our Monaco office or schedule an online consultation that can resolve any concern that may arise during your entire application process as an entrepreneur moving to Monaco.

    1. We suggest to begin by contacting Inimex, which can immediately help you by giving an all-inclusive consultation, discussing with you about your prospective immigration to Monaco, children’s education, family health care, administration procedures and much more, thus helping you formulate a concrete and well-informed decision;
    2. Inimex and you work hand-in-hand in order to assemble the best possible set of supporting documents and other credible sources required by Monaco authorities, in order to maximize the chances of your application being approved by all agencies in the fastest way possible;
    3. Our accredited translators meticulously convert all outgoing documents into French approved by the local authorities;
    4. You arrive in Monaco in order to obtain a relevant address that can be used in the application (if you are unable or unwilling to come to Monaco by any reason, we may, upon your direct approval, represent you by proxy);
    5. We assist you obtain a comprehensive health insurance that will cover all injuries and other daily medical care that you and your family may need during your initial prospective stay in Monaco;
    6. We help you apply for a business permit at Monaco Business Development Agency;
    7. Once approved, without the need of additional documents, within 90 days, the relevant governmental authorities issue you a business permit in accordance to you application so that you may begin to register and conduct the business and its relevant initiating and operating procedures;
    8. Once you have the permit, we help you begin or purchase your business, which involves the following:
      i. Complete the disclosure procedures to all necessary governmental bodies in order to obtain the legal standing ground for your business to operate as normal;
      ii. Register the business in the Trade and Industry Register so that it can be listed as a proper entity in the Principality of Monaco;
      iii. Apply for a Statistical Identification Number so that all of your business’s activities may be tracked and recorded as sanctioned per local economic laws;
      iv. Declare the business to the Department of Tax Services in order to make sure the proper taxation base is established for a healthy continuous operation without revenue disturbances;
      v. Register with social security organizations so that all potential insurance and legality incidents relating to said insurances do not arise without significantly damaging your economic prospects
    9. Once the company is legally official, we enclose the company relevant information into your immigration profile as a proof of your professional commitment as an entrepreneur eagerly and legitimately wishing to move to Monaco as an investor, and submit the application to Monaco authorities for reviews and final approval;
    10. You visa as an investor who has contributed significantly to the Principality of Monaco should be delivered to you in a few weeks after the submission of your application package for final approval;
    11. You arrive in Monaco thanks to your new visa, and apply for “Direction de la sureté publique”, which officially registers you and your family as legal residents in Monaco, and allows you and your family to perform certain activities such as opening bank accounts or obtaining a multitude of civil rights;
    12. You obtain the residence card – your legal residence status in Monaco, which symbolizes the first successful step in your relocation to the Principality;
    13. Any of your children under 16 years old obtain a travel document valid for up to five (5) years;
    14. You and your spouse’s first three residence permits are valid for a period of one (1) year, renewed annually, which will be assisted either by the Inimex team member or one of our trusted local contacts, along with a certified translator that works with us;
    15. We will assist you in exchanging your original driver’s license from your country of origin into a Monaco driver’s license that allows you to conduct in European Union without any legal complications;
    16. Upon the expiration of your third residence permit, which occurs after the third year of your residency in Monaco, we help you apply Monaco resident card “ordinaire”, which is the ordinary card that most other local residents possess. It is valid for three years, and is renewed for another three years upon expiration;
    17. Once you have resided in Monaco for a minimum of ten years, we will help you apply for permanent residence card “privilégié” at the relevant local authorities that are in charge of confirming and issuing these privileged type of residency, which is the equivalent representation of a permanent residency, and is valid for ten years;
    18. With the permanent residence card, we at Inimex congratulate you for reaching the one last triumphant step that is on your road to a bright new future in the breathtakingly marvellous nation named Monaco, which now you officially can call to be a member of. From this moment on, you can apply for Monaco citizenship any time of your choosing, should you ever decide to become a member of the Prince’s subjects.

MONACO: BUSINESS

SARL SAM SNC SCS Sole trader
Company name:  Followed by the initials “SARL” ;
May include the name of one or more shareholders
Followed by the words “société anonyme monégasque” or the initials “SAM” with a statement of the share capital;
May include the name of one or more shareholders
Must have Shareholders’ names only Name of one or more active shareholders Trading name only
Number of shareholders: At least 2 shareholders;
Managing Director must be a physical person, and may or may not be a shareholder;
Neither shareholders or directors are considered as traders
At least 2 shareholders;
No person may be a Member of the Board of more than 8 commercial companies having their registered office in Monaco
At least 2 shareholders;
May be a physical or legal persons;
All considered as traders
Must have 2 types: (i) active partners, considered as traders, and (ii) limited partners
At least 2 shareholders: 1 active partner and one limited partner;
Physical or legal persons
Physical person
Type of activities: Commercial Commercial or non-trading Commercial Commercial or non-trading Commercial or non-trading
Contributions: Contributions in cash and in kind (contributions in skills or services not permitted);
Contributions in kind must be fully paid up when the company is formed;
Cash contributions must be paid up when the company is formed and at least equal to the minimum capital;
The share capital must be fully paid up within 3 years
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital;
Contributions in skills and services
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital; Contributions in skills and services
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital;
Contributions in skills and services (only for active partners)
Share capital amount:  Minimum EUR 15,000;
Contributions in cash are paid into an account opened for this purpose with a credit institution established in the Principality, proof of which must be given when applying to be listed on the Trade and Industry Registry
Minimum EUR 150,000;
Subscription and payment of capital is recorded in a notarized deed
No minimum capital amount No minimum capital amount
Liability:  Shareholders only bear losses up to the amount of their contributions Directors are only liable for the performance of the mandate that they have received. They do not contract, as a result of their management, to any personal or joint and several obligation in respect of the company’s undertakings;
Shareholders’ liability is limited to the amount of their contributions
All shareholders are indefinitely jointly and severally liable for company debts in respect of all their assets Active partners are indefinitely jointly and severally liable for company debts;
Limited partners are liable up to the amount of their contributions
Held liable in respect of all their assets
Company formed by:  Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Official deed drawn up by a Monegasque notary;
The Memorandum and Articles of Association are published in the Journal de Monaco;
The Memorandum and Articles of Association approved by Ministerial Order are returned to the offices of the drafting notary. The authorization granted only produces its effects once the Memorandum and Articles of Association have been deposited in the official records of the drafting notary
Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Set-up costs: Registration tax;
Publication fees
Registration tax;
Publication fees;
Notary’s fees
Registration tax;
Publication fees
Registration tax;
Publication fees
Additional information: In practice, the SAM is managed by a Board, but there are no rules as to its functioning The Memorandum and Articles of Association may appoint one or more shareholders authorized to sign under the company name. In this case, the latter’s signatures alone bind the company The limited partner may not carry out any act of management, even by virtue of a power of attorney. If the partner does so, they may be subject to the same liability as the active partner Sales representatives and craftsperson applying for an authorization to work as a sole trader

MONACO: TAXATION

The lack of income tax dates back to an Ordinance by Prince Charles III in 1869. Taxation in Monaco is one of the benefits available to investors and wealthy individuals all over the world. In Monaco there is no wealth tax, annual property tax and council tax.

Monegasque nationals and foreign residents in the Principality (except French citizens) are not liable for income tax.

Tax on inheritance and gifts applies to assets that are located in the Principality of Monaco, regardless of the domicile, residence or nationality of the deceased person or donor.

The rate of taxation is 33.33 %, while capital gains from asset sales as part of business activities may, under certain conditions, be exempt if they are re-invested in the firm.

Firms created in the Principality and falling within the scope of corporate income tax that carry on a genuinely new business are exempt from tax for a period of two years and subsequently benefit from a favorable regime for the three following years, namely:

    1. 1st and 2nd year: no corporate income tax,
    2. 3rd year: the tax is calculated on 25 % of profit,
    3. 4th year: the tax is calculated on 50 % of profit,
    4. 5th year: the tax is calculated on 75 % of profit,
    5. 6th year: the tax is calculated on 100 % of profit.

MONACO: TESTIMONIAL

I have had a lot of businesses in many parts of the world and I have always heard of the great reputation to do businesses in Monaco. Thus, I have always wanted to open a new venture in Monaco and I believed with it, I could conquer a new world. I found Inimex and expressed my desires, and they quickly helped me find a local Monaco partner to work with. From calling the government agencies asking for permission to filing with the relevant authorities to get approval, they helped me a lot. We managed to finish the registration of the company within 6 months, and the moment I saw my company’s named published in Journal de Monaco, I was excited beyond belief. I probably would have never even dreamed of having a company without any help, and now look where I am! Inimex then helped me apply for a visa and get a residence card, all without any fuss.

My company now is doing phenomenally well, and because of that I have to travel quite a lot. The good name of Monaco businesses is widespread thanks to the robust banking system we get to enjoy at this place, as huge transactions would be approved within minutes. I really loved the fact that this very advantage brought me many clients in Asia and Africa, and now I got to buy a nice apartment facing the sea with fantastic views. Whenever the F1 race arrives in town, I do not even need to turn on my TV: I can watch the entire race from my window! I made many local friends in the prestigious social circle, and that was when I met my wife. She is from a historically famous local family, and it is the honor of my life to be able to have her by my side, for the rest of my life. Since I was already a local resident, the process was fast and easy. And truthfully, I could not have experienced this drastic improvement of my life if there is no Inimex. Thank you!

MONACO: OUR MISSION

Monaco is known for its generosity to aspiring successful people. Full of opportunities tailored to the exceptionally affluent populations, Monaco is the perfect location to begin your next venture. Our Monaco Inimex Business Immigration team provides a complete range of highly specialized immigration services for our business clients, inviting foreign nationals from around the world to set up a business in Monaco.

In Monaco, we are currently handling two highly requested immigration paths to Monaco residency:

    1. A Residence Permit in Monaco for financially independent applicants and retired people;
    2. A Business Immigration Option for Entrepreneurs.

This page will provide you with the necessary information regarding the immigration option for entrepreneurs. For the option of financially independent applicants, please click on the dedicated page for wealthy individuals.

In collaboration with our colleagues in Monaco, ranging from accountants, tax lawyers, business advisers and consultants, our Monaco Business Immigration Service team at Inimex offers an outstanding relocation service for foreign businesspersons looking to settle down in this affluent city at the coast of the famous French Riviera region.

With our assistance, foreign investors and start-ups, as well as their families, can quickly and directly access our team member responsible for their immigration process.

Inimex offers clients the following services :

    1. Expert advice on legal questions relating to business visa and acquiring residency permit upon arrival;
    2. Assistance in creating a commercial company in Monaco;
    3. Registration with the tax authorities and the Minister of State;
    4. Application of the necessary documents and follows up with the local organisations (Direction de l’Expansion Economique) in order to establish a company in Monaco.

If you require more assistance with regards to the immigration process to Monaco via entrepreneurship, our Monaco office will be at your disposal for any question at : Tel/WhatsApp/Viber +377 607 933 859 (Monaco), Skype: Linimex.

MONACO: REQUIREMENTS

The following is a general list of requirements if you are about to establish a business in Monaco:

    1. Obtain preliminary authorization from Monaco authorities to create a business in the country that is deemed to be productive or supportive of the national economic future and sustainability;
    2. Justify sufficient financial funds to support yourself and your family during the initial period of Monaco residence;
    3. Present proof of accommodation in Monaco (long term lease agreement or purchase agreement in Monaco).

 

There are five (5) types of businesses you can set up in Monaco in order to qualify for the immigration program for entrepreneurs:

    1. SARL (société à responsabilité limitée), a limited liability company: minimum share capital of EUR 15,000, must have at least 2 partners and carry out commercial activities;
    2. SNC (société en nom collectif), a collective company: must have at least 2 partners, carry out commercial activities and every partner must be able to participate in trading;
    3. SCS (société en commandite simple), with both active and limited members: must have a least 1 active partner and a minimum of 1 limited partner;
    4. SAM (Société Anonyme Monégasque): minimum share capital of EUR 150,000, no trading activities required;
    5. Sole trader: you are the only active member of the company.

Regardless of the type of business you wish to set up, you would have to file for a permit in order to be granted preliminary approval by the relevant authorities in Monaco. Inimex will be able to assist you in obtaining the permissions.

MONACO: FAMILY MEMBERS

Your spouse and children under the age of 16 are included in the application and will obtain the same immigration status and residence card.

MONACO: LAWS AND REGULATIONS

Ordonance n. 3.153 du 19/03/1964 relative aux conditions d’entrée et de séjour des étrangers dans la Principauté.

MONACO: LIST OF DOCUMENTS

Please note that Monaco has a tendency to alter their legal clauses regarding businesses unexpectedly. The following information is for reference only and for the most up-to-date information, you are always welcome to contact our Monaco office, which would be glad to assist you.

Every business may require different kind of sets of documents. However, regardless of the business you wish to establish, these common documents have to be provided to the relevant authorities:

    1. The completed form of “Application for permit to carry out a business activity in the Principality of Monaco”, which allows the officials to know your intent to create a business, the nature of the business and other relevant information that may potentially affect the outcome of other governmental bodies decisions;
    2. The “Personal Information” form, which would inform the Monaco government about your personal history;
    3. A civil-status document for each business partner that you wish to perform your business with in order to complete the relevant requirements for the satisfaction of the programme:
      i. A certificate of Monaco nationality or copy of his or her ID card in the country for Monaco citizen;
      ii. A photocopy of his or her residence permit for residents of Monaco;
      iii. A copy of the ID card or passport for foreigners who have not obtained Monaco citizenship not any Monaco residency;
    4. Birth certificate;
    5. Marriage certificate (and/or divorce certificate if applicable);
    6. A copy of the applicant’s criminal record, issued less than three months from the date of the application by relevant authorities in all regions that the applicant has resided for more than 1 year. This should be obtained from:
      i. The General Court Registry of Monaco for Monaco residents;
      ii. The national criminal records office for persons residing in France;
      iii. Local police offices of the country of origin for foreigners who are not residing in France at the time of the application;
    7. Proof of accommodation in Monaco;
    8. Proof of sufficient source of income to cover living expenses in Monaco;
    9. Motivation letter.

MONACO: PROCESS

The following is a sample process for you to move to Monaco through the investor immigration procedure. We understand that every businessman has different ideals and needs. Therefore, the following is for reference only. If you require any assistance or have any question regarding to any detail of the process, please contact our Monaco office or schedule an online consultation that can resolve any concern that may arise during your entire application process as an entrepreneur moving to Monaco.

    1. We suggest to begin by contacting Inimex, which can immediately help you by giving an all-inclusive consultation, discussing with you about your prospective immigration to Monaco, children’s education, family health care, administration procedures and much more, thus helping you formulate a concrete and well-informed decision;
    2. Inimex and you work hand-in-hand in order to assemble the best possible set of supporting documents and other credible sources required by Monaco authorities, in order to maximize the chances of your application being approved by all agencies in the fastest way possible;
    3. Our accredited translators meticulously convert all outgoing documents into French approved by the local authorities;
    4. You arrive in Monaco in order to obtain a relevant address that can be used in the application (if you are unable or unwilling to come to Monaco by any reason, we may, upon your direct approval, represent you by proxy);
    5. We assist you obtain a comprehensive health insurance that will cover all injuries and other daily medical care that you and your family may need during your initial prospective stay in Monaco;
    6. We help you apply for a business permit at Monaco Business Development Agency;
    7. Once approved, without the need of additional documents, within 90 days, the relevant governmental authorities issue you a business permit in accordance to you application so that you may begin to register and conduct the business and its relevant initiating and operating procedures;
    8. Once you have the permit, we help you begin or purchase your business, which involves the following:
      i. Complete the disclosure procedures to all necessary governmental bodies in order to obtain the legal standing ground for your business to operate as normal;
      ii. Register the business in the Trade and Industry Register so that it can be listed as a proper entity in the Principality of Monaco;
      iii. Apply for a Statistical Identification Number so that all of your business’s activities may be tracked and recorded as sanctioned per local economic laws;
      iv. Declare the business to the Department of Tax Services in order to make sure the proper taxation base is established for a healthy continuous operation without revenue disturbances;
      v. Register with social security organizations so that all potential insurance and legality incidents relating to said insurances do not arise without significantly damaging your economic prospects
    9. Once the company is legally official, we enclose the company relevant information into your immigration profile as a proof of your professional commitment as an entrepreneur eagerly and legitimately wishing to move to Monaco as an investor, and submit the application to Monaco authorities for reviews and final approval;
    10. You visa as an investor who has contributed significantly to the Principality of Monaco should be delivered to you in a few weeks after the submission of your application package for final approval;
    11. You arrive in Monaco thanks to your new visa, and apply for “Direction de la sureté publique”, which officially registers you and your family as legal residents in Monaco, and allows you and your family to perform certain activities such as opening bank accounts or obtaining a multitude of civil rights;
    12. You obtain the residence card – your legal residence status in Monaco, which symbolizes the first successful step in your relocation to the Principality;
    13. Any of your children under 16 years old obtain a travel document valid for up to five (5) years;
    14. You and your spouse’s first three residence permits are valid for a period of one (1) year, renewed annually, which will be assisted either by the Inimex team member or one of our trusted local contacts, along with a certified translator that works with us;
    15. We will assist you in exchanging your original driver’s license from your country of origin into a Monaco driver’s license that allows you to conduct in European Union without any legal complications;
    16. Upon the expiration of your third residence permit, which occurs after the third year of your residency in Monaco, we help you apply Monaco resident card “ordinaire”, which is the ordinary card that most other local residents possess. It is valid for three years, and is renewed for another three years upon expiration;
    17. Once you have resided in Monaco for a minimum of ten years, we will help you apply for permanent residence card “privilégié” at the relevant local authorities that are in charge of confirming and issuing these privileged type of residency, which is the equivalent representation of a permanent residency, and is valid for ten years;
    18. With the permanent residence card, we at Inimex congratulate you for reaching the one last triumphant step that is on your road to a bright new future in the breathtakingly marvellous nation named Monaco, which now you officially can call to be a member of. From this moment on, you can apply for Monaco citizenship any time of your choosing, should you ever decide to become a member of the Prince’s subjects.

MONACO: BUSINESS

SARL SAM SNC SCS Sole trader
Company name:  Followed by the initials “SARL” ;
May include the name of one or more shareholders
Followed by the words “société anonyme monégasque” or the initials “SAM” with a statement of the share capital;
May include the name of one or more shareholders
Must have Shareholders’ names only Name of one or more active shareholders Trading name only
Number of shareholders: At least 2 shareholders;
Managing Director must be a physical person, and may or may not be a shareholder;
Neither shareholders or directors are considered as traders
At least 2 shareholders;
No person may be a Member of the Board of more than 8 commercial companies having their registered office in Monaco
At least 2 shareholders;
May be a physical or legal persons;
All considered as traders
Must have 2 types: (i) active partners, considered as traders, and (ii) limited partners
At least 2 shareholders: 1 active partner and one limited partner;
Physical or legal persons
Physical person
Type of activities: Commercial Commercial or non-trading Commercial Commercial or non-trading Commercial or non-trading
Contributions: Contributions in cash and in kind (contributions in skills or services not permitted);
Contributions in kind must be fully paid up when the company is formed;
Cash contributions must be paid up when the company is formed and at least equal to the minimum capital;
The share capital must be fully paid up within 3 years
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital;
Contributions in skills and services
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital; Contributions in skills and services
All shareholders must make a contribution;
Only the contributions in cash and in kind are taken into account in the share capital;
Contributions in skills and services (only for active partners)
Share capital amount:  Minimum EUR 15,000;
Contributions in cash are paid into an account opened for this purpose with a credit institution established in the Principality, proof of which must be given when applying to be listed on the Trade and Industry Registry
Minimum EUR 150,000;
Subscription and payment of capital is recorded in a notarized deed
No minimum capital amount No minimum capital amount
Liability:  Shareholders only bear losses up to the amount of their contributions Directors are only liable for the performance of the mandate that they have received. They do not contract, as a result of their management, to any personal or joint and several obligation in respect of the company’s undertakings;
Shareholders’ liability is limited to the amount of their contributions
All shareholders are indefinitely jointly and severally liable for company debts in respect of all their assets Active partners are indefinitely jointly and severally liable for company debts;
Limited partners are liable up to the amount of their contributions
Held liable in respect of all their assets
Company formed by:  Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Official deed drawn up by a Monegasque notary;
The Memorandum and Articles of Association are published in the Journal de Monaco;
The Memorandum and Articles of Association approved by Ministerial Order are returned to the offices of the drafting notary. The authorization granted only produces its effects once the Memorandum and Articles of Association have been deposited in the official records of the drafting notary
Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Privately-signed or official deed;
A transcript of the Memorandum and Articles of Association is published in the Journal de Monaco
Set-up costs: Registration tax;
Publication fees
Registration tax;
Publication fees;
Notary’s fees
Registration tax;
Publication fees
Registration tax;
Publication fees
Additional information: In practice, the SAM is managed by a Board, but there are no rules as to its functioning The Memorandum and Articles of Association may appoint one or more shareholders authorized to sign under the company name. In this case, the latter’s signatures alone bind the company The limited partner may not carry out any act of management, even by virtue of a power of attorney. If the partner does so, they may be subject to the same liability as the active partner Sales representatives and craftsperson applying for an authorization to work as a sole trader

MONACO: TAXATION

The lack of income tax dates back to an Ordinance by Prince Charles III in 1869. Taxation in Monaco is one of the benefits available to investors and wealthy individuals all over the world. In Monaco there is no wealth tax, annual property tax and council tax.

Monegasque nationals and foreign residents in the Principality (except French citizens) are not liable for income tax.

Tax on inheritance and gifts applies to assets that are located in the Principality of Monaco, regardless of the domicile, residence or nationality of the deceased person or donor.

The rate of taxation is 33.33 %, while capital gains from asset sales as part of business activities may, under certain conditions, be exempt if they are re-invested in the firm.

Firms created in the Principality and falling within the scope of corporate income tax that carry on a genuinely new business are exempt from tax for a period of two years and subsequently benefit from a favorable regime for the three following years, namely:

    1. 1st and 2nd year: no corporate income tax,
    2. 3rd year: the tax is calculated on 25 % of profit,
    3. 4th year: the tax is calculated on 50 % of profit,
    4. 5th year: the tax is calculated on 75 % of profit,
    5. 6th year: the tax is calculated on 100 % of profit.

MONACO: TESTIMONIAL

I have had a lot of businesses in many parts of the world and I have always heard of the great reputation to do businesses in Monaco. Thus, I have always wanted to open a new venture in Monaco and I believed with it, I could conquer a new world. I found Inimex and expressed my desires, and they quickly helped me find a local Monaco partner to work with. From calling the government agencies asking for permission to filing with the relevant authorities to get approval, they helped me a lot. We managed to finish the registration of the company within 6 months, and the moment I saw my company’s named published in Journal de Monaco, I was excited beyond belief. I probably would have never even dreamed of having a company without any help, and now look where I am! Inimex then helped me apply for a visa and get a residence card, all without any fuss.

My company now is doing phenomenally well, and because of that I have to travel quite a lot. The good name of Monaco businesses is widespread thanks to the robust banking system we get to enjoy at this place, as huge transactions would be approved within minutes. I really loved the fact that this very advantage brought me many clients in Asia and Africa, and now I got to buy a nice apartment facing the sea with fantastic views. Whenever the F1 race arrives in town, I do not even need to turn on my TV: I can watch the entire race from my window! I made many local friends in the prestigious social circle, and that was when I met my wife. She is from a historically famous local family, and it is the honor of my life to be able to have her by my side, for the rest of my life. Since I was already a local resident, the process was fast and easy. And truthfully, I could not have experienced this drastic improvement of my life if there is no Inimex. Thank you!