Monaco residence

How Monaco residence works

Monaco does not sell residence for investment. The decision rests with the principality's police, who look at three things: whether you can live without working in Monaco, whether you have housing here and whether there are security risks. Money in the bank is neither a fee nor an investment: it stays yours but shows you are self-sufficient. Working in Monaco requires a separate basis, for example your own company.

It also matters that a resident genuinely lives in the principality. Monaco checks actual residence, and without it the card will not be renewed and a tax residence certificate will not be issued.

Requirements

Dollar amounts use market rates, rounded up: 1.1229 dollars per euro on 20 October 2026 and 1.21 dollars per franc on 17 October 2026.

What it costs

The main cost is housing: rent and purchase prices in Monaco are among the highest in the world, so we build the budget from the flat, not the fees.

Documents and where to get them

• A passport and, for citizens from outside the European Union, a French long-stay visa.
• A 12-month lease or purchase documents for housing in Monaco.
• A Monaco bank letter on the account and its balance.
• Police certificates from the countries of citizenship and residence, apostilled and translated into French.
• A health insurance policy.
• Marriage and children's birth certificates for family members.
• A form and an explanation of the source of funds, which we prepare with you; the bank and the police check it in detail.

Step by step

1. Preliminary check of the profile and source of funds, before approaching a bank.
2. Opening an account in a Monaco bank and placing the funds: the bank's check usually takes weeks, longer for Russian citizens.
3. Finding housing and signing a lease or purchase.
4. A French long-stay visa for living in Monaco, at a French consulate where you live.
5. Entry and filing with the residents' section of the Monaco police, with an interview.
6. A 1-year resident card and annual renewal.

The whole path usually takes several months, longer for citizens from outside the European Union and especially Russians because of bank and police checks.

Resident cards

The first temporary resident card is issued for 1 year and renewed annually. After 3 years of residence you can obtain an ordinary 3-year card, and after 10 years a privileged 10-year card. At each renewal they check that you still live in Monaco and keep housing and funds in a local bank. Renewal is filed in advance, before the card expires, with updated bank letters and the housing contract.

How to get approved the first time

• The bank does not open an account or closes it after checking the source of funds.
• The housing does not fit the family or the lease is shorter than 12 months.
• There is no French long-stay visa or it was refused.
• The police see risks: a criminal record, sanctions links or incomplete information in the form.
• The applicant does not plan to genuinely live in Monaco.

Taxes for residents

Monaco residents pay no income tax, except French citizens. Individuals are not taxed on capital gains, wealth or crypto. Inheritance tax is not charged to children and spouses, while other heirs pay 8-16%, and only on property in Monaco. There is no double tax treaty with Russia, and Monaco is on Russia's list of offshore jurisdictions, so we calculate Russian taxes before the move. See taxes in Monaco.

For citizens of sanctioned countries

Russian citizens are not excluded, but their applications take longer: banks and the police carry out additional sanctions compliance checks. A Monaco bank account is the hardest step, so we start by preparing a source-of-funds file and only then approach the bank. Those with a second citizenship of a country outside the sanctions regime usually find the procedure easier.

A business in Monaco as a basis

If you want to work rather than only live in Monaco, your own company can be the basis. Its creation is approved by the principality's government, and the business must be real: an office, activity, taxes.

Who it suits and who it does not

Monaco suits wealthy people who want to live by the sea in a safe place, pay no income tax and are ready to keep a large sum in a local bank and pay for housing at the principality's prices. It does not suit those seeking status without moving, those hoping for a quick European Union passport or those who need a low cost of living. Monaco is not in the European Union, and citizenship here is granted rarely and after many years of residence.

A Monaco bank: the hardest step

A Monaco bank looks not only at the amount but also at the history of the money: where the capital comes from, how it was earned and what taxes were paid. Banks often offer not just a deposit but management of part of the funds, and the minimum varies from bank to bank. The check takes weeks, longer for Russian citizens. The money must stay in the bank for as long as you are resident, so we plan its placement around your investment goals.

Housing in Monaco

A purchase or a lease of at least 12 months works, but the size must suit the family: a studio will not do for a couple with children. On a purchase an individual pays 4.75% duty and an opaque structure 10%. The rental supply is small and good flats go quickly, so we start the search in parallel with opening the account.

Family

A spouse and financially dependent children receive their own resident cards with the applicant. They need proof of relationship, apostilled and translated into French, and the housing must accommodate the whole family. Residents' children attend Monaco schools or an international school, and a place is worth arranging before the move.

What changes in 2026

The thresholds have not changed, but checks on applicants from Russia, Belarus and Iran take longer in 2026: banks and the police carry out additional sanctions compliance checks. Allow several extra months for this stage.

The tax residence certificate

Many move to Monaco for tax reasons, but what matters to the previous country is not the resident card but proof that you really live in the principality. A Monaco tax residence certificate is issued to those who live here: housing, bills for it and actual presence are confirmed. Without such proof the previous country may keep treating you as its tax resident, so we track days and keep records of life in Monaco from the first month.

Where to start

Send us in the chat your family composition, an approximate housing budget and a description of the sources of your capital. We assess how the Monaco bank and police will see your profile, suggest which bank suits your amount and draw up a plan with honest timelines. If the procedure is too long for your citizenship or the budget does not add up, we suggest Switzerland, Austria or another country.

Alternatives to Monaco

What we do

Murblz specialists assess your profile before approaching a bank, prepare the source-of-funds file, help with the bank, housing, the French long-stay visa and filing with the Monaco police, and then with annual renewals. If Monaco does not fit the budget or timeline, we suggest another country. A consultant will calculate the cost in the chat.

Benefits of a Monaco residence permit

How to get a Monaco residence permit: step by step

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