How to become a Monegasque resident?

Are you considering buying a property in Monaco? Renowned for its quality of life, luxury and sublime landscapes between sea and mountains, this small country of 40 000 inhabitants offers many advantages to its residents. If parentage remains one of the founding principles for obtaining Monegasque nationality, becoming a resident in the Principality requires only a few prerequisites. Here are the formalities to be eligible for the Monegasque resident certificate.

Conditions for living in Monaco

To live in Monaco, the Monegasque residence certificate is mandatory for any foreign person wishing to live in Monaco for a minimum of 3 months per year.

Certain criteria are necessary to obtain a residency in Monaco.

You must be able to prove that you have bought or rented a house or an apartment in one of the 7 districts of the Rocher. Another solution is to prove that one's spouse owns a property in Monaco.

It is also essential to prove economic self-sufficiency:

By his/her salary
By a sufficient income as a self-employed person
By sufficient capital, the amount of which must be validated by a Monegasque bank
By proof of maintenance from a spouse or a parent.

It is imperative to prove good character by providing a clean police record of less than 3 months or equivalent from the authorities of the country or countries in which you have resided for the last 5 years.

The different statuses of the residence certificate:

Several types of residence certificates exist depending on the applicant's situation.

The temporary residence certificate, valid for 1 year, renewable every year for 3 years.
The ordinary residence certificate, valid for 3 years, renewable once.
The privileged residence certificate, valid for 10 years.
Finally, the "Monegasque spouse" certificate is awarded to any foreigner who is the spouse of a Monegasque citizen and has been residing in Monaco for 1 year. It is valid for 5 years.

To obtain this residence certificate, after having provided all the required documents, an interview will be held with a member of the public security. Then the decision will be made whether or not to issue the residence certificate.

Formalities for obtaining a resident certificate in Monaco

Formerly called a "carte de séjour" (residence permit), the resident certificate can be obtained after filling out an application form at the Public Security Department at the Residents, Certifications and Lost and Found section.

Several documents are required to complete the application for nationals of the European Economic Area and third countries:

A copy of the valid passport
A copy of the lease contract or the property deed of your place of residence
A copy of a proof of residence in Monaco such as an electricity bill.

Once all the supporting documents have been gathered, the application can be sent to the Monegasque authorities by visiting the offices located at the Louis II Stadium or in digital format via the teleservice.

For nationals from outside the EEA, it is necessary to apply for a settlement visa at the French Consulate closest to their last place of residence before submitting the application for a residence certificate.

Tax benefits for Monegasque residents

As for Monegasque citizens, individuals who have obtained their resident certificate do not pay taxes on their personal income. Only French citizens must declare their income in France and are subject to withholding tax, even if they have established their main residence on the Rocher.

However, Monaco is the ideal place of residence for self-employed people, as the tax on earnings and exchanges is taxed at 0%.

Obtaining Monegasque nationality without filiation

The Principality has only 25% Monegasque citizens in its population. To obtain Monegasque nationality without filiation, it is possible to apply to the Sovereign Prince for naturalization under certain conditions:

To have his usual residence in Monaco for at least 10 years after his/her majority
Be exempt from military obligations in his/her country of origin
Lose their previous nationality

Naturalization is granted by the Sovereign Prince who also judges the reputation of the applicant.