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This information does not form part of any offer or contract. All measurements, areas and distances are approximate. The information and plans contained herein are believed to be correct, however, their accuracy is not guaranteed. The photographs show only certain parts of the property at the time they were taken. This offer is subject to change of price or other conditions without prior notice.
For more information visit:
Government website: www.gouv.mc
Tourism Office: www.visitmonaco.com
It is important to note that net profit attracts this tax. Principals in a business may draw out remuneration which will significantly reduce net profit. Whilst it is not possible in every situation to draw out such an amount as to extinguish all taxable profit, certainly the remuneration of principals will reduce exposure to this tax. There is no income tax in Monaco on the income in the hands of the principals.
Where a Monegasque business is providing services within a group, local practice is to agree that a percentage of Monegasque profits tax will apply only to strictly local running expenses (salaries, rent, etc.).
Conversely where royalties are derived by a company, in a number of circumstances the tax rules can be onerous.
Profit arising from the investment of personal wealth is not taxable in Monaco, whether such wealth is managed directly by an individual (in Monaco or elsewhere) or by intermediaries. Management of one’s private wealth (as opposed to that of others) does not constitute a commercial activity and so no business licence is generally necessary.
As a result, passive asset management companies often used by individuals to hold assets of all kinds (bank accounts, share portfolios, real estate, art collections, yachts etc), are generally not affected by any fiscal or regulatory legislation in Monaco.
For personal reasons, individuals may wish to consider setting up a private or family office to manage their wealth and depending upon the activity of that Office it will either be exempt from profits tax or if it is deliberately commercial in nature, subject to profits tax with the exceptions and deductions described.
Again, depending upon the profile of that office, it may be wholly free of any regulation or, alternatively, deliberately subject to local regulation (Financial Services, AMLR for example).
Suiss Courtage Insurance
12 quai Antoine 1er
t: +377 93 30 50 36
TV, Internet, Mobile, Landline
9 rue de Gabian
t: +377 99 66 33 00
22, quai Jean-Charles Rey
t: (+377) 92 05 74 77
Vet emergencies at night and public holidays:
Clinique St Augustin, Nice (24/24) 04 93 71 21 41
Vet Home service Adomvet (+33) 02 72 88 20 22
Veterinary Emergencies Delta (+33) 04 89 88 34 51
Monaco Taxi t: (+377) 93 15 01 01
Emergency phone numbers:
Medical emergencies t: 18 or 93 30 19 45
Princess Grace Hospital Centre Emergencies (+377) 97 98 97 69
Fire brigade t: 18 or 93 30 19 45
Police t: 17 or 112
Gas/Electricity t: 92 05 05 05
Doctor and All-night pharmacy: t: 141
Monaco Telecom: mobile lines, internet and television t: 99 66 33 00
Public Libary The Princess Caroline Library 1, bd Albert Ier
Toys and Games Section for children aged 3-13/10.
Library t: (+377) 98 98 80 01 | Toy library t: (+377) 98 98 41 53
Louis Notari Place 8 rue Louis Notari – with the Reading area (Bibliothèque Louis Notari)
Villa Lamartine Place 19, boulevard Princesse Charlotte – with the Audiovisual area
Rive Gauche London – luxury Interior Design
5 Southampton Place, London, WC1A 2DA, United Kingdom
t: +44 7533 472 812
48 Beak Stret, Lonacon W1F9RL, United Kingdom
Boutsen Design – fine art of decoration 40 Rue Grimaldi
t: +377 93 30 84 46
Bo Concept 32 Boulevard des Moulins
t: +377 97 97 67 97
Habitat 7 Avenue Saint-Charles
t: +377 97 77 69 99
Fly C.C Carrefour, Fontvieille
t:(+33) 1 92 05 26 92
IKEA near Toulon, ZAC de Valgora, 83160 La Valette-du-Var, France
t:(+33) 9 69 36 20 06
Conforama ZI Route du Mont Gros 06500 Menton, France
t: (+33) 483 530 585
Ubaldi Boulevard Albert 1er
t: (+33) 825 33 33 33 1
Linea Cusine 148 Avenue Georges Guynemer, 06700 Saint-Laurent-du-Var, France
t: (+33) 4 92 07 04 30
Carrefour Electric Centre Commercial Fontvieille
t: (+33) 4 92 05 57 00
FNAC Le MÃ©tropole Shopping Center 17 avenue Des SpÃ©lugues
t: (+33) 825 02 00 20
Carrefour & Shopping Centre Avenue Albert II, Fontvieille
Marche U 30 boulevard Princesse Charlotte, Monte-Carlo
Bio supermarket 7 & 9 Rue Terrazzani, Condamine
Open-air market in Condamine Place d’Armes, Condamine
Open-air market in Beausoleil Rue du Marché, near Monte-Carlo
Online shopping http://www.houra.fr/| http://www.ooshop.carrefour.fr/
Tennis Monte Carlo Country Club
t: (+33) 4 93 413015
Athletics Federation Stade Louis II,
7 Avenue des Castelans
t: 92 05 41 09
Basketball AS Monaco Basketball Stade Louis II,
7 Avenue des Castelans
t: 92 0 5 41 11
Football AS MONACO FC Amateur Stade Louis II,
7 Avenue des Castelans
e: [email protected]
t: 92 05 40 67
Fencing Stade Louis II,
7 Avenue des Castelans
t: 92 05 40 78
Dance M.A.D Monaco Arts & Danse (Singing, Fitness, Arts for kids) 1,
Promenade Honore II, Monaco
t: 93 50 31 66
Cycyling Union Cycliste de Monaco 12 Avenue des Castelans
t: 92 05 74 40
Swimming AS Monaco Natation Stade Louis II,
7 Avenue des Castelans
t: 92 05 40 27
St Charles swimming pool 7 Avenue Saint-Charles
t: 92 16 04 22
Sailing Yacht Club of Monaco Quai Louis II
t: 93 10 63 00
Cheerleading Dolls Star Monaco
9 alle Lazare Sauvaigo
t: 06 12 60 04 01
Karting Fun-kart Plateau de la Sarree,
la route de Gourdon, le Bar Sur Loup, France 06620
t: +33 4 93 42 48 08
Martial Arts International Martial Arts Claude Pouget
t: 06 07 93 31 36
Karate Shotokan Monaco Gymnase de l’Ecole des Revoires
t: +377 93 30 47 74
Squash Stade Louis II, 7 Avenue des Castelans
t: 92 05 42 22
Rowing Societe Nautique de Monaco 3 Avenue J.F. Kennedy
t: 92 16 03 03
Rugby AS Monaco Rugby Stade Louis II,
7 Avenue des Castelans
t: 92 05 42 92
t: 06 59 97 25 30
Volleyball Federation Monegasque Stade Louis II,
7 Avenue des Castelans
t: 92 05 40 65
t: 06 82 07 98 63
12 Avenue d’Ostende
t: +377 93 25 36 81
open June to September
Chemin des PÃªcheurs
t: +377 93 25 36 81
Gym World Class 6 Avenue Marquet,
06320 Cap-d’Ail, France
t: +33 4 92 09 20 92
Sports Complex – gym, swimming pool etc.
3, avenue des Castelans
t: (+377) 92 05 40 10
Thermes Marins 2 Avenue de Monte-Carlo
t: +377 98 06 69 00
Odeon Spa Sisley Oden Tower,
36 Avenue de l’Annonciade
t: +377 97 98 39 15
Gym Private Club 39
39 Avenue Princesse GrÃ¢ce
t: +377 93 25 39 39
The Forge gym 8 Avenue de Fontvieille
t: +377 97 77 37 22
Event & Congress Centre Grimaldi Forum 10 Av. Princesse Grace
t: +377 99 99 20 00
Event Centre in Fontvieille Chapiteau
5 avenue des Ligures
t: +377 92 05 26 00
Ballet de Monte-Carlo:Â http://www.balletsdemontecarlo.com/
Opera de Monte-Carlo Place du Casino
t:+377 98 06 28 00
Theatre Muses 45 Boulevard du Jardin Exotique
t: +377 97 98 10 93
Salle des VariÃ©tÃ©s 1 Boulevard Albert 1er
Dr Gael Sauser
1 avenue St Laurent Monaco
t: (+377) 93 15 03 03
Dr Virginie Perriquet
3 Rue Princesse Florestine Monaco
t: (+377) 99 90 37 70
Dr Nabil Sharara
3 Boulevard General Leclerc Beausoleil
t: (+33) 4 93 78 48 62
Dr Notari Marie-Gabrielle
10 Boulevard d’Italie Monaco
t: (+377) 93 50 09 87
Dr. Rodica Tolosano
Place Cremaillere Beausoleil
t: (+33) 4 93 78 40 46
Dr Thomas Blanchi
37 Boulevard des Moulins Monaco
t: (+377) 93 50 51 46
Dr Khaled Bohsali
9 Boulevard du General Leclerc 06240 Beausoleil
t: (+33) 4 93 78 37 50
Dr Amelia Fissore
3 avenue St Michel Monaco
t: (+377) 93 25 66 66
Dr Valerie Rossi
6 Boulevard des Moulins Monaco
t: (+377) 93 30 82 85
Dr Jean Marc Riss & Dr Philippe Berros
Athos Place 2 rue Lujerneta Fontvieille Monaco
t: (+377) 92 05 76 01
Dr Jean Regis Simbsler
3 boulevard General Leclerc Beausoleil
t: (+33) 4 93 78 57 25
Dr Francoise Meunier
Le Panorama 57 Rue Grimaldi Monaco
t: (+377) 99 99 99 30
8 Avenue des Papalins Monaco
t: (+377) 92 05 95 95
British Association of Monaco: http://www.bam-monaco.org/
Monaco USA: http://www.monacousa.org/
German International Club: https://www.cai-asso.com/
Monte Carlo Country Club – Tennis: https://www.mccc.mc/
Monte Carlo Golf Club: https://www.montecarlosbm.com/en/wellness/golf
Automobile Club de Monaco: https://acm.mc/en/accueil/
Yacht Club de Monaco: https://yacht-club-monaco.mc/en/home/
Monaco Ambassadors Club: http://www.monacoambassadorsclub.org/
Sports Club 39: https://www.39montecarlo.com/en/
Cours Saint Maur
33 bd des Moulins
t: (+377) 93 50 61 51
The International School of Monaco, a private school offering bilingual education, which falls within the competence of the International Baccalaureate Organization (IBO).
16 Quai Antoine 1er,
t: +377 93 25 68 20
Établissement François d’Assise Nicolas Barré
11 rue Princesse Marie de Lorraine
t: (+377) 97 97 10 50
More information: https://en.gouv.mc/Policy-Practice/Youth/A-privileged-educational-system
École des Carmes
33 bd du Larvotto
t: (+377) 98 98 86 68
École du Parc
32 bis bd de Belgique
t: (+377) 98 98 86 71
École de la Condamine
4 rue Saige
t: (+377) 98 98 86 65
École de Fontvieille
5 avenue des Guelfes
t: (+377) 98 98 47 65
École Saint Charles
11 avenue Saint Laurent
t: (+377) 98 98 86 70
École des Révoires
63 ter boulevard du Jardin Exotique
t: (+377) 98 98 86 83
Collège Charles III
Avenue de l’Annonciade
t: (+377) 98 98 86 75
Lycée Albert 1er
2, place de la Visitation
t: (+377) 98 98 44 00
Lycée Technique et Hôtelier de Monte-Carlo
7 Allée Lazare Sauvaigo
t: (+377) 98 98 86 72
More information :Â https://en.gouv.mc/Policy-Practice/Youth/A-privileged-educational-system
Business in Monaco may take various forms:
It is common for foreign companies to set up a branch in Monaco which is not permitted to trade in its own right or earn income for its own account.
It simply acts as the administrative headquarters of an international group of companies and receives sufficient funds from its parent organisation to pay its local expenses. Its activity is limited to providing administrative services to its parent organisation in whose name it conducts its business.
From a tax point of view, provided the branch has no profits of its own, the usual profits tax rate of 33.33% will apply but the branch will be taxed on a notional profit calculated by applying a percentage to its total local expenses in the accounting year.
This percentage is usually agreed with the Monegasque tax authorities when the business is set up and can be renegotiated at any subsequent time.
Banking activities are regulated both by the Monegasque authorities and by the Bank of France (AutoritÃ© de ContrÃ´le Prudentiel) which means that consent from the Bank of France will be required before such an activity can be carried on in the Principality.
Certain capital requirements must also be met and the business must be carried on in the form of a limited liability company (SAM) or as a branch of a foreign bank. Subsequently, Monaco credit institutions are regulated by the Bank of France to ensure that banking activities enjoy top flight regulation.
Monegasque laws of 2007, replacing legislation of 1997, provide that such activities must be carried on independently through a SAM. Minimum capital requirements must also be met.
Financial services activities are approved and subsequently regulated by a special Commission (the CCAF) distinct from the standard Monegasque Government licensing authority. Financial activities are also conducted by local credit institutions. In such a case a Monaco credit institution is regulated by the Bank of France (for banking operations) and by the CCAF (for its asset management activity).
Compliance is an important issue for the regulated investment services providers and credit institutions located in Monaco, In particular Monaco strengthened its anti-money laundering legislation in 2009 and reinforced the role of the governmental body in Monaco responsible for monitoring professionals in relation to the fight against money laundering, terrorist financing and corruption (the SICCFIN).
Also in 2009, a new law on Data Protection was passed, embracing international standards on Data Protection and creating a supervisory independent authority (the CCIN). The implementation of Monegasque legislation in this area has been widely applauded, reflecting Monacoâ€™s desire to attract serious asset management, private equity and fund business to the Principality.
The regulation is real and serious but the regulator is approachable and the industry appreciates the form of regulation which operates.
The Principality of Monaco has become known as a centre for privately owned shipping operations. This is recognised as a field for which Monaco provides an ideal base and the existence of many shipping family interests attests to Monacoâ€™s role as an international ship management centre.
Successful businessmen and women may wish to continue an activity, either in an advisory or an investment role, once they become resident in Monaco. Such an activity if commercial, professional, industrial or artisanal will require a licence if carried out in the Principality.
But activity which is personal or passive, for the entrepreneurâ€™s own account, will not require a business licence. It is important to raise an enquiry with the authorities to avoid misunderstanding. It may be appropriate for an individual entrepreneur to seek administrative office (bureau administratif) status; alternatively, it may be worthwhile seeking incorporation of a SociÃ©tÃ© Anonyme MonÃ©gasque with civil status, as a Private or Family Office as a medium through which staff can be employed locally.
There are a number of Family or private offices in Monaco ranging from small offices with very limited staff, to larger offices employing greater numbers of people, the business form differing from office to office to suit the particular family concerned.
The authorities in Monaco are very keen to welcome private and family offices with the right profile.
Law 887 concerns houses that were built before 1st September 1947. If you buy an apartment in Monaco that is subject to Law 887, you have a right to lease it to the following individuals:
Lease contracts must be concluded for a period of 6 years. They can be terminated at the end of each year, solely at the leaseholderâ€™s initiative. There is no ceiling on the rent paid and it can be fixed at the owners discretion. An additional clause about rent indexation can be included in the lease contract.
Law 1291 refers to houses that were built before 1st September 1947 and states that the rent is regulated and can only be fixed by the Housing Administration, which is authorized to lease this type of property to the following groups of people in the following order of priority:
According to the order of priority, a citizen of Monaco will have an advantage over a person residing in Monaco for more than 40 years. Thereby, citizens will have a preferential right to lease an apartment. Lease contracts must be concluded for a period of 6 years with the option of termination at the leaseholderâ€™s initiative.
The lessor may give the leaseholder a term that is rent free if any of the following conditions apply:
Demolition of an old building in order to construct a new one with the same or superior living space and on the same site; erection of a superstructure in the building; reconstruction of the building for the extension of existing living space; work for improvement of living conditions (hygiene, health) and public safety. In the case where any of the last three conditions apply, the entirety of the premises occupied by the leaseholder will be deemed uninhabitable for the duration of the building works.
In the above mentioned cases, as well as the case whereby the entirety of the premises occupied by the leaseholder is deemed as uninhabitable for the duration of construction work, the regulations of Article 1.564 of Civil Code apply. Moreover, in the case where the building is subject to demolition according to the terms and conditions of existing legislation and regulations or in the case that the building is considered a public health or safety hazard, lease contracts currently in force are liable to termination.
An additional clause about rent indexation can also be included in the lease contract.
Nevertheless, the annual rent cannot exceed the average level of the Consumer Price Index (excluding tobacco goods), as calculated for the entirety of households in France for a period of a year and published by the French State Institute of Statistics and Economic Analysis.
An application for a long stay visa is generally lodged with the French Consulate in the territory where the individual resides and will take about three months to obtain. EEA and Swiss nationals do not need to apply for a French long stay visa, and they make an application for a residence card directly in Monaco. The process takes approximately one and a half months.
In order to obtain a long stay visa (where necessary) and/or a Monegasque residence card, the appropriate authorities will request various documents:
The first residence card (carte de rÃ©sident) obtained is valid for one year and is renewed twice, after which it is replaced by a card valid for three years. This is also generally replaced twice at intervals of three years, after which a ten-year residence card is issued. If a person holds a one-year or a three-year residence card, they are expected to spend at least three months in each year in the Principality for the purpose of renewing their residence card.
Where a person seeks a ten-year residence card, they will have to show that their â€œusual and effectiveâ€ place of residence is Monaco, which generally means six monthsâ€™ residence a year is required.
It may be important for holders of a residence card to seek formal proof of residence (e.g. in discussions with a foreign revenue authority). For these purposes, a certificate of residence (certificate de rÃ©sidence) may be available but care has to be taken within the original residence application at the outset if this certificate is to be available subsequently.
Anyone wishing to work in Monaco as an employee must obtain a work permit from the Monegasque authorities. Such permits are not difficult to obtain, provided the job in question is not one for which suitable staff could be recruited locally.
Directing or running a business in Monaco does not require a work permit; rather a business licence must be obtained. It should be stressed that obtaining a residence card in no way confers Monegasque nationality on the holder.
Only after ten yearsâ€™ residence (and very exceptionally after five years), may a resident apply for Monegasque citizenship. This is a jealously guarded privilege and is bestowed only very rarely. It is not a right.
Where the individual does not yet wish to become a Monaco resident, they may stay in Monaco for up to three months without a break. There is nothing to prevent non-residents from buying or renting a property in Monaco nor are any consents required to do so and many non-residents have invested in real estate in the Principality.
One of Monacoâ€™s foremost attractions is the level of security afforded to its residents due largely to the presence of a highly efficient police force.
Monacoâ€™s sporting facilities and sporting calendar, which includes the Formula 1 Grand Prix, the Monte Carlo Tennis Open and the Monaco Yacht Show, are legendary. On the cultural plane, excellent museums, opera, dance, theatre, film, music, circus, exhibitions and other events are available throughout the year at a consistently high international level.
State of the art forms of communication and transport are taken for granted. Medicine and other professional services such as banking, accounting, law and investment enjoy a strong reputation.
Monaco also enjoys an envied reputation for being both a gastronomic and a health destination.