Live in Monaco

Monaco is internationally known for its quality of life, stability and distinctive tax environment. However, moving to the Principality does not simply mean “paying no tax”. The outcome depends on factors including nationality, genuine tax residence, the nature of a person’s income and any continuing obligations in other jurisdictions. These are the main points to understand before relocating. 1. How does personal taxation work in Monaco? As a general rule, Monaco does not levy personal income tax, wealth tax, property tax or a residential occupancy tax on individuals. The absence of personal income tax applies to people who are genuinely and effectively established in the Principality and does not override tax rules that may apply in other countries. A major exception concerns French nationals. Under the 1963 Franco-Monegasque tax convention, most French citizens residing in Monaco remain subject to French income tax, subject to the specific exceptions and circumstances provided for by the applicable rules. Inheritance and gift duties may apply to assets located in Monaco, with rates depending on the relationship between the parties and ranging from 0% to 16%. VAT also applies in Monaco on the same basis and at the same rates as in France. 2. What are the main requirements for obtaining residency? Foreign nationals over the age of 16 who intend to live in Monaco must complete the formalities required to obtain a residence permit. Applications are reviewed by the Monegasque authorities and require evidence of a genuine establishment in the Principality. Have suitable accommodation in Monaco for the household, whether as an owner, tenant or, where applicable, hosted resident. Demonstrate sufficient financial resources, which may derive from employment, income or adequate bank assets depending on the applicant’s circumstances. Provide the required identity and civil-status documentation and satisfy the relevant good-character and background checks. Complete the procedure with Monaco’s Police Department and attend the interview required as part of the application. Administrative residence and tax residence should not be confused. For certain tax-related residence certificates, Monaco’s administration refers to criteria including spending more than 183 days per year in Monaco, having the principal centre of activities there, spending the longest period of the year there or, failing those tests, having one’s home in the Principality. 3. What are the main advantages for individuals and investors? For many international residents, Monaco’s principal tax attraction is the absence of Monegasque personal income tax and wealth tax. This sits alongside an international business environment, a strong private-banking and wealth-management sector and one of the world’s most sought-after residential property markets. Real-estate investors should nevertheless look beyond personal taxation alone. Acquisition prices, registration duties, transaction costs, service charges, rental yields, the legal regime of the property and taxation in other relevant jurisdictions all need to be considered. 4. What should you check before moving to Monaco? Review your current tax residence and the consequences of leaving your country of origin. Check the tax treaties and rules applicable to your nationality, income and assets. Prepare suitable accommodation and the financial evidence required for the residency application in advance. Plan the property budget carefully: Monaco is a premium market and availability varies significantly by district and property type. Obtain qualified tax and legal advice on the cross-border, estate-planning and wealth implications before making a final decision. House & Co: supporting your move to Monaco Securing the right property is a central part of establishing residence in Monaco. House & Co assists clients with both rentals and acquisitions, taking into account residency needs, budget and wider property objectives. This article is provided for general information only and does not constitute tax, legal or financial advice. The applicable rules may vary according to nationality, personal circumstances and international agreements.

Against a global backdrop of economic uncertainty, geopolitical tensions and an increasing focus on stability, Monaco continues to hold a distinctive position among High-Net-Worth Individuals (HNWIs) and Ultra-High-Net-Worth Individuals (UHNWIs). More than a prestigious destination, the Principality has developed into an international wealth and lifestyle ecosystem, combining security, institutional stability, quality of life and one of the world's most exclusive real estate markets. Monaco: stability and security at the heart of Europe One of Monaco's greatest strengths is its unusual combination of political stability, economic resilience and a high level of security. As international investors increasingly seek to diversify not only their assets but also their geographical exposure, the Principality represents an attractive environment in which to establish part of their personal and financial interests. Its strategic location on the French Riviera, international accessibility and sophisticated infrastructure further reinforce its appeal to a global clientele. Quality of life alongside investment Monaco's attractiveness extends well beyond financial considerations. The Principality provides an exceptional lifestyle, with immediate access to the Mediterranean, premium services, international education, healthcare infrastructure, fine dining, major sporting and cultural events, and a significant concentration of professional services catering to international clients. For many HNWIs, Monaco therefore offers the possibility of combining residency, lifestyle and long-term wealth strategy within a single location. Monaco real estate as a wealth asset Real estate plays a particularly important role within this environment. Purchasing property in Monaco does not necessarily follow a short-term rental-yield strategy. For some international investors, ownership instead forms part of a broader approach to long-term wealth preservation and diversification. Properties offering prime locations, exceptional views, substantial outdoor areas or addresses within prestigious residences are especially sought after. The value of Monaco real estate therefore derives not only from the property itself, but also from the difficulty of replicating its location. Scarcity: a structural characteristic of the market Monaco occupies an exceptionally limited territory while attracting real estate demand from an international clientele. This geographical constraint creates a structurally limited supply, particularly for properties meeting the highest standards of the luxury market. Although new developments can periodically increase Monaco's residential stock, available land remains inherently scarce. The relationship between constrained supply and international demand is therefore one of the defining characteristics of Monaco's property market and has historically contributed to supporting the value of its highest-quality assets. Diversification beyond financial markets For UHNWIs, diversification increasingly extends beyond allocating capital between equities, bonds, private equity and cash. It can also involve owning scarce real assets located within stable jurisdictions. Monaco brings several of these characteristics together: limited territory, international demand, a secure environment and an exceptionally selective property market. This combination continues to position the Principality as a major destination for international investors seeking to bring together wealth, residency and quality of life. House & Co assists an international clientele with acquisitions, sales and rentals in Monaco, providing in-depth knowledge of the Principality's real estate market.

In terms of size, Monaco is one of the smallest states in the world: barely two square kilometres nestled between the rock and the Mediterranean. And it is precisely this compactness that makes it one of the most surprising destinations to explore unhurriedly, one step at a time. Within minutes, one moves from the timeless charm of the Rock, home to the Prince's Palace and the Cathedral, to the cosmopolitan energy of Monte-Carlo, with its famous Casino and luxury hotels overlooking Place du Casino. A little further on, Fontvieille harbour shelters glittering yachts, while the Mareterra district, the Principality's newest extension into the sea, reveals Monaco's most contemporary face, with avant-garde architecture and gardens designed to blend with the seaside landscape. It is no coincidence that this human scale is one of the qualities most valued by those who choose to live or invest in the Principality. There is no need for long car journeys to move from a scenic walk to a museum, from a haute couture boutique to a Michelin-starred restaurant: everything is close by, everything can be reached on foot, and it is precisely this proximity that makes the Principality unique, including from a real estate perspective, where every property is, in effect, just steps away from everything. Visit Monaco City Walk, the New Digital Guide to Explore the Principality The Monegasque Government has recently unveiled Visit Monaco City Walk, a digital platform offering six walking routes across Monaco's different districts, from the Rock to Mareterra. Through an interactive map and dedicated signage along the routes, the service suggests stops, distances and points of interest, while also encouraging more efficient parking management in favour of pedestrian mobility. The initiative confirms a trend already well established in the Principality: discovering the city increasingly happens on foot rather than behind the wheel. A Principality to Be Lived In, Even Before Being Called Home Whether it is a first visit or a daily stroll through one's own neighbourhood, Monaco continues to prove that its human scale is one of its most valuable qualities, now even more accessible thanks to tools like this one. For those considering purchasing a property in the Principality, this proximity between places is not merely a practical advantage: it is an integral part of the very value of living in Monaco, where every address also tells the story of its position relative to the sea, the Casino, the gardens or the harbour. Our team is on hand to guide you through the Principality's most exclusive properties, in every district these new walking routes will help you discover.

Monaco is much more than one of the world's most exclusive real estate markets. It is a unique destination where business, luxury, sport, gastronomy, culture and privacy come together within just over two square kilometres. For ultra-high-net-worth individuals, living in the Principality is not simply about owning a prestigious address. It is about enjoying an exceptional quality of life built around efficiency, security, convenience and exclusive access. A Lifestyle Designed Around Efficiency One of Monaco's greatest strengths is its compact size. In a single day, residents can: Attend a business meeting in Monte-Carlo. Enjoy lunch at a Michelin-starred restaurant. Train with a personal coach in a private club. Meet with a family office advisor. Spend time aboard a yacht. End the evening with fine dining, a cultural performance or an exclusive private event. Luxury hotels, world-class restaurants, marinas, international schools, private medical facilities and cultural venues are all located within minutes of one another, creating one of the most efficient luxury lifestyles in the world. Morning: Business, Wellness and Daily Routine For many residents, the day starts early. Morning routines often include: Personal training sessions. Wellness appointments. Medical check-ups. A walk or run along the Larvotto seafront. Monaco's pedestrian-friendly layout, beautiful gardens and Mediterranean coastline make outdoor activity an effortless part of everyday life. Wellness as a Lifestyle Health and wellness play a central role in Monaco's lifestyle. Many residents regularly enjoy: Private fitness clubs. Personal trainers. Luxury spa facilities. Preventive medical care. Beauty and wellness treatments. The Thermes Marins Monte-Carlo, together with the wellness centres of Monaco's luxury hotels, perfectly illustrates the Principality's commitment to health, comfort and premium services. Midday: Restaurants, Meetings and Networking Lunch in Monaco is often both a social occasion and a business opportunity. Professional meetings frequently take place in: Luxury hotel restaurants. Private clubs. Elegant terraces. Fine dining establishments. Monaco offers an exceptional culinary scene, ranging from relaxed Mediterranean cuisine to internationally acclaimed gourmet restaurants. Restaurants Beyond Dining For many residents, restaurants are far more than places to eat. They serve as spaces for: Networking. Family gatherings. Client meetings. Confidential business discussions. Monaco's gastronomy reflects the city's identity: international, refined, elegant and tailored to a demanding clientele. Afternoon: Private Clubs, Yachting and Exclusive Appointments Life in Monaco is closely connected to the sea. The Yacht Club de Monaco is one of the Principality's most iconic institutions and plays a central role in the international yachting community. Afternoons may include: Meetings with yacht captains. Discussions with brokers. Visits to shipyards. Family office consultations. Time spent aboard a yacht or at the marina. The Monaco Yacht Show Every year, the Monaco Yacht Show brings together: Superyacht owners. Shipyards. Brokers. Luxury brands. International investors. It perfectly embodies the intersection of luxury lifestyle and global business. Evening: Gastronomy, Culture and Sophisticated Nightlife Evenings in Monaco are elegant rather than extravagant. Residents often choose between: Michelin-starred dinners. Private receptions. Opera performances. Cultural events. Casino evenings. Exclusive nightlife venues. The Casino de Monte-Carlo, the Opéra de Monte-Carlo, the Hôtel de Paris, Jimmy'z and numerous private clubs create a unique atmosphere where entertainment, culture and business naturally come together. For many residents, one of Monaco's greatest advantages is the ability to move effortlessly from a business dinner to a cultural performance or a private gathering within just a few minutes.