Monaco: what to see and whether to move there

Is it worth moving to Monaco in 2026

Monaco is a tiny principality on the Riviera with no income tax for residents other than French citizens, no capital gains or wealth tax, and one of the highest levels of safety in the world. It is the world's most expensive city for housing, so moving suits wealthy people with capital and income who want to live in Europe without tax on personal income. Many of those who work in Monaco live in neighbouring France.

What it costs to live in Monaco

Prices come from two independent 2026 price databases, with euros converted at the European Central Bank rate of 5 October 2026. A square metre of a flat in the centre costs about $71,990-74,790, the highest housing prices in the world.

Where to live in Monaco: districts

• Monte Carlo - the casino, hotels and boutiques, the most expensive housing.
• Larvotto - a beach district with new buildings by the sea.
• La Condamine - the port, market and restaurants, the busy centre of daily life.
• Monaco-Ville - the old town on the rock with the Prince's Palace, little housing.
• Fontvieille - a reclaimed district with quiet streets, a stadium and a second port, popular with families.
• Moneghetti and Jardin Exotique - residential areas on the hillside with sea views, slightly cheaper.

How to get residence

Residence is granted for financial independence or a business in Monaco. In practice you place about €500,000, about $560,200, with a Monaco bank, private banks often expect more, and buy or rent housing suitable for your family for at least 12 months. Nationals from outside the European Union need a French long-stay visa. The first residence card is issued for a year, after 3 years for 3 years and after 10 years for 10 years. Bank and police checks take longer for Russian citizens. More on the Monaco residence page.

Taxes in Monaco

There is no income tax for residents other than French citizens, and capital gains, wealth and cryptocurrency are not taxed for individuals. Companies pay 25% on profits if more than a quarter of turnover is earned abroad, and new companies pay 0% for the first two years. VAT is as in France, 20% with reduced rates. Inheritance to children and spouses is untaxed, others pay 8-16%, and only on assets in Monaco. There is no double tax treaty with Russia. More on the Taxes in Monaco page.

Buying and renting

When buying a resale home, an individual or a transparent company pays 4.75% registration duty and about 1.5% to the notary, an opaque company 9.5%. In new builds VAT of 20% is paid instead, with about 2.5% to the notary. A deposit of about 10% is usually paid when signing the preliminary contract with the notary. There is no residence for purchase as such, but owned or rented housing is required for a residence card. Few flats are on the market, so many people rent across the border in France, in Beausoleil or Cap-d'Ail, where rents are noticeably lower.

Monaco or other countries without income tax

People choose Monaco for life in Europe without income tax and for safety, and on a smaller budget they more often look at the UAE or Cyprus.

Citizenship

Monaco does not grant citizenship by investment. Naturalisation is possible after 10 years of residence after age 18, by decision of the Prince, and previous citizenship is lost. In 2025, 21 people were naturalised. More on the Monaco citizenship page.

Life, schools and climate

The Mediterranean climate brings mild winters around 10-14 degrees and warm, dry summers. The language is French, and English and Italian are widely spoken in business. The city is compact enough to cross on foot in an hour, with public lifts and escalators between levels. State schools teach in French, and there is an international school with an English curriculum. The nearest major airport is in Nice, 30-40 minutes away, and there is also a helicopter link.

Work, healthcare and safety

The main employers are private banks and wealth management, the yachting industry, hotels, restaurants and the casino. Nationals from outside the European Union need a work permit through an employer, and citizens and residents of Monaco have hiring priority. Healthcare means the public Princess Grace Hospital and private clinics, and residents use the local social insurance system. Monaco has one of the largest police forces per capita in the world, with streets and public places under video surveillance, so street crime is almost non-existent.

Pitfalls

• The world's highest housing prices and few available flats.
• Long bank and police checks, especially for Russian citizens.
• French citizens are not exempt from income tax.
• Without permanent housing and funds in a Monaco bank the residence card is not renewed.
• No dual citizenship on naturalisation.

Murblz specialists prepare the file for the bank and police, find housing and support the residence card application.