BECOME A RESIDENT IN MONACO
The Principality of Monaco is an exceptional place with an unequalled quality of life (security, advantageous taxation, economic prosperity). To settle in the Principality, a certain number of conditions must be met. Indeed, buying or renting an apartment does not automatically confer residency. Other requirements must also be met in order to become a resident of Monaco. Any person over the age of sixteen wishing to reside in Monaco for more than three months per year can apply to the Direction de la Sûreté Publique, Section des Résidents.
Find out about the compulsory documents and the steps to be taken to take up residence in the Principality.
Have proof of accommodation
Guarantee of sufficient financial resources
Prove the identity of the applicant
Prove good character by providing an extract from the criminal record
Also, the application form must be filled out, which is available at the Residents’ Section of the Public Security Department. The last step in the application process is an appointment with the Residents’ Section to discuss the application. During the interview, all documents are reviewed and verified. Questions regarding motivation will also be addressed. If the application is complete and approved, the card is usually issued within six to eight weeks.
It should be noted that, even if all the criteria are met, the Monegasque authorities may refuse to issue the resident card in the same way that they may decide to withdraw it at any time if there are problems. After obtaining the resident card and settling in the Principality, the applicant is obliged to reside in the Principality of Monaco for at least 6 months and 1 day per year in order to obtain a certificate of residence which justifies his or her effective residence in Monaco and thus allows him or her to become a Monegasque for tax purposes. At the same time, it will be necessary to take care of the steps to leave his former country of residence.
Our agency will assist you in all your administrative formalities in the Principality of Monaco.