MOVING TO MONACO AS AN EU CITIZEN

Exploring the Allure of Monaco

Monaco, a realm of chic casinos, dazzling events, and a reputation as a playground for the affluent, has ensnared the aspirations of many seeking a taste of the high life. From the iconic Casino de Monte-Carlo to the famed Monaco Grand Prix, this haven of opulence offers an unmatched lifestyle. It’s no wonder that the desire of EU citizens to call Monaco home is palpable.

LONG-TERM RESIDENCY

Embarking on indefinite residence in Monaco involves navigating a more intricate path. While EU citizens enjoy visa-free access for short stays, those planning to make Monaco their abode for over three months must apply for a Carte de Séjour (residency permit). This application process entails furnishing a valid passport, evidence of accommodation, and financial statements.

THE FINANCIAL BARRIER

Monaco’s alluring tax advantages have magnetized the global elite for years. With zero income tax for residents and accommodating corporate tax regulations, Monaco has become a haven for those aiming to optimize their financial standing. However, this favorability comes at the cost of an exorbitant living standard, and property prices that rank among the world’s highest.

EMBRACING THE LIFESTYLE

Beyond the veneer of extravagance, Monaco extends an unparalleled Mediterranean lifestyle. Boasting breathtaking beaches, world-renowned cuisine, and a pulsating social scene, the principality exerts an irresistible allure. Monaco’s compact dimensions ensure that convenience and luxury are within arm’s reach, ideal for those who seek both

SHORT STAYS (LESS THAN 3 MONTHS)

Visits under three months require nothing more than a valid passport or recognized identity document enabling entry into French territory. Bask in Monaco’s glamour during this interval without the need for supplementary permits.

RESIDING IN MONACO FOR OVER 3 MONTHS

For prolonged stays, EU citizens aspiring to call Monaco their haven must secure a residence permit from Monegasque authorities. To qualify, you must satisfy specific prerequisites:

Accommodation in Monaco

Establish suitable housing through options such as:

Ownership of a Monaco residence.
Directorship of a company owning Monaco properties.
Minimum 12-month rental of a Monaco dwelling.
Co-residing with a close relative, spouse, or partner

Demonstrating Financial Resources

Show financial solidity by:

Possessing a substantial salary as an employee or professional.
Having ample savings (typically around EUR 500,000) authenticated by a Monaco bank.
Receiving support from a co-residing relative, spouse, or partner.

Upholding Good Character

Submit a recent copy of your criminal record or equivalent documentation covering the past five years of residency in prior countries. This certificate should not be more than three months old when applying for residence.

Meeting Formal Requirements

Prepare and present the following documents:

Valid passport or identity card.
Birth certificate.
Marriage/divorce certificate (if applicable).
Passports or identity cards for children under 16 (if applicable).

Guided by the favorable Monaco-EU/EEA agreement, EU citizens can navigate the path to Monaco with relative ease. Armed with suitable accommodation, financial stability, and good character, you can savor the Mediterranean lifestyle and relish in Monaco’s opulence.