Becoming a resident
All you need to know about getting your resident's permit and the benefits you will get
Benefits of living in Monaco
With a wide range of fiscal and financial incentives, Monaco offers an idyllic lifestyle and one of the most resilient and fast-growing real estate market.
No Income Tax
Low Corporation Tax
Highly connected country
Shenghen Zone visa-free
High Standard of living
Strong Real Estate Market
Process & Conditions
Becoming Monaco resident is easy and straight forward. There are requirements to meet which our team can help you with.
Requirements to become a resident
Before you ask for a residency permit, you must be able to prove you have the following
Accommodation in Monaco which is large enough to accommodate those living there, through:
Being the owner of a house or apartment; or
Being the director or unit holder of a company which owns a house or apartment; or
Renting a house or apartment; or
Staying with a close relative, your spouse, or partner with whom you are living as a couple
Sufficient financial resources, by means of:
A salary; or
Professional income (independent commercial activity or through a company); or
Sufficient savings of €500k (c. £400k eq.) on a bank account; or
Being supported by a relative, spouse or partner with whom you are living as a couple
Monaco Residency Rules
First Time Applicant
Once an application for a residency permit has been submitted, a ‘temporary’ card valid for one year may be issued, for which there are no particular length of residency requirements.
Timing of renewal will depend on how long you have been a resident
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' (temporary resident's card) and is renewed each year for the first three years of your residency. In the fourth year of continuous Monaco residency, you will then be issued with a three-year card, known as the 'Carte de Resident Ordinaire' (ordinary resident's card). 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. Note that regardless of how often you have to renew your residence permit, you will still enjoy all the benefits of living in Monaco.
We are here to help
With over 20 years of experience in Real Estate, and 350 successful transactions, we are a partner of choice to accompany you in your relocation project.
At Blu Properties, we can help you:
Find your dream property thanks to our exclusive access to landlords in the Principality. As a family business, we will offer a tailored approach and will not waste your time with properties that do not fit your investment criteria.
Become a Monaco resident by putting you in touch with our trusted expert network. We can help with everything from tax and savings to logistics and your children's education.
To find out more, contact us to schedule an introductory call