The Principality of Monaco

Located at the heart of Europe, on the Mediterranean coast and at the foot of the Southern Alps, Monaco benefits from a pleasant climate all year round. It is ideally located within two hours’ flying time of all of Europe’s major cities, and just 20km from Nice-Côte d’Azur airport.

As well as its privileged location, the Principality, which covers just two square kilometres, benefits from high-quality facilities and infrastructure for healthcare, education, tourism, events and transport. These facilities are regularly enhanced by major development projects.

Monaco is an incredible melting pot of talent and energy from around the world. It is one of the world’s most cosmopolitan states, with almost 140 nationalities in residence.  While its official language is French, English and Italian are also widely spoken and the workforce is extremely multi-lingual.

The Principality boasts a vibrant cultural and sporting calendar, making it a unique, prestigious, place.

As an independent sovereign state governed by the same dynasty since 1297, Monaco’s 40,000 residents also enjoy a high-quality discreet and robust security structure.

The Principality is connected to the world through its participation in international bodies such as the United Nations and the Council of Europe, and it maintains bilateral relations with many States. Its voice is heard on the international stage, where it promotes its commitments, in particular in favour of the environment, marine protection and sustainable development.

With 6,357 businesses and more than 55,472 jobs^*, Monaco is proud to have a dynamic, diversified economy, focused on trade, banking, real estate, hotels and industry. Its per capita gross domestic product ranks among the highest in the world.

The Principality holds a sizeable asset portfolio and solid public finances: government revenue exceeds expenditure and it has no debt.

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An attractive tax policy

Its independence and favourable financial position mean that Monaco can offer its residents advantageous tax conditions:

• no income tax
• no wealth tax
• no local taxes
• no capital gains or real estate taxes
• minimal inheritance tax and gift taxes

N.B. Under the bilateral tax agreement between France and Monaco, particular tax rules apply to French citizens.

High-quality banking services and a strict regulatory framework attract many investors to Monaco.

As at 31 December 2022, Monegasque banks managed assets totalling €145.9 billion.

Strict regulations

Strict banking regulations and laws apply to credit institutions in Monaco. These rules are comparable to European regulations in terms of prudential operating rules, business conduct to ensure investor protection, anti-money laundering procedures and international cooperation in line with the guidelines set by the Financial Action Task Force (FATF).