- Favourable tax system for Monaco Residents
- Reside in Secure environment
- Excellent location with Nice International airport Thirty Minutes by car/10 minutes by helicopter
- Mediterranean Climate
- Worldwide environment
- Company friendly
- English widely spoken
- The Cote d'Azur and Italy on the doorstep
Ways to get Monaco Residency
To get Monaco Residency there are particular requirements for each applicant to fulfil. The requirements for making an application for residency in Monaco are as follows:
Relocation Monaco are an approved Relocation Services provider by the Monaco Chamber of Commerce and Economic Development. Relocation Monaco are based in Monaco, their website has lot of information reaarding monaco residency as well as general Monaco banking and property advice.
Lease or buy a property in Monaco
If renting the lease should be for a minimum of 12 months and have adequate bedrooms to accommodate the variety of persons using. For instance, in order for this to get approved for Monaco residency, a couple must rent a one bedroom apartment at least and for a household of 4 a minimum if two bed rooms. This lease is usually automatically at the end of each lease period.
Each applicant must provide a police certificate stating that each adult applicant does not hold a criminal record in the country where they have resided during the previous 5 years. In Monaco an adult is any one over the age of sixteen years of age for this purpose. This certificate should not be more than 3 months old at the time of application for the residency.
In addition, the following documents need to be sent for each candidate when applying for Monaco residency.
- Legitimate passport
- Birth certificate
- Marriage certificate(s)
- Any previous divorce certificate (or death certificate if the candidate has a partner who is deceased.)
- The Police certificate as above
- The registered lease for the Monaco apartment
- The new electrical power contract for the Monaco apartment
- The official Monaco residency application forms finished and properly signed
- Health report for candidates of 70 years and over
To finish the Monaco residency process, an official residency interview will be organized throughout which all the required documents are sent. Following this the Monaco residency application will certainly be processed and licensed. This will take around 8 weeks for EU passport holders and sixteen - twenty weeks for non EU passport holders as they need to initially apply for a unique Visa from the French Embassy in their country of residence which once authorized and issued (up to sixteen weeks) will then allow the applicant to finish the Monaco procedures within three-four weeks, when the residency card will certainly be issued also referred to as the Carte de Sejour).
The requirements for making an application for Monaco residency are reasonably uncomplicated and as long as the candidate can offer all of the needed documents, then there is no general reason that the applicant need to not be given Monaco Residency and receive theirs Monaco resident's card.
The first Monaco residency card will certainly be released for a period of twelve months after which this card have to be restored. The card is called a Monaco carte de resident temporaire and is renewed each year for the first 3 years. In then fourth year of constant Monaco residency the holder then will be issued with a 3 year card, called the Monaco Carte de resident ordinaire. These cards stand for three years and must be restored at expiry. In year 10, the holder of a Monaco residency may apply for a carte Privilege which is provided at the discretion of the Monaco authorities. This is not automatically granted and if not provided the applicant will continue to get the 3 year Monaco citizen's card.
The cost of applying for residency in Monaco truly lies in the cost of renting an house added to the basic cost of living in Monaco. Unlike other nations providing residency programs, obtaining residency in Monaco does not need the candidate to "invest" a defined amount of cash in Monaco nor is it obligatory to purchase a property as a leasing suffices.
It is a really favourable place to become a local and enjoy the many benefits which becoming a citizen of Monaco gives.