Any individual aged above 16 years who is desirous of residing in Monaca for more than three months must obtained a residence permit from Monegasque authorities. The residence permit entitles the holder to, apart from reside in Monaco, move freely in the EU Schengen area.
Temporary Permit: Monaco Investor Residence
The Monaco temporary permit does not have any prior-residence requirements. It is issued to first-time residents as well. It is valid for a period of one year and is issued at a cost of €10.
The temporary permit must be renewed every year.
Ordinary Permit: Monaco Investor Residence
After residing in Monaco for three years, the resident can apply for an Ordinary permit that is valid for a period of three years. The requirements and procedure of application remain the same with the applicant required to submit proof of accommodation, financial resources, and good character.
Privilege Permit: Monaco Investor Residence
After residing in Monaco for a period of ten years, the applicant can seek a Privilege permit that is valid for a period of ten years. The ten year residency requirement may be reduced to one year in special cases at the discretion of the authorities.
If this permit is rejected, then the applicant can continue renewing the Ordinary permit after every three years.
Fees: Monaco Investor Residence
|Issue of Temporary Permit valid for one year||10 €|
|Issue of Ordinary Permit valid for three years||15 €|
|Issue of Privilege Permit valid for ten years||30 €|
Citizenship: Monaco Investor Residence
Any person who has been an ordinary resident of Monaco after attaining the age of 18 years for a period of at least ten years can apply to H.S.H the Sovereign Prince for naturalisation as a citizen of Monaco.
The H.S.H the Sovereign Prince may, at his discretion, dispense with the residence requirement. The applicant must fulfill these two basic conditions:
Any person who has been ordinarily resident in Monaco for at least ten years after reaching the age of eighteen may apply to H.S.H the Sovereign Prince for naturalisation as a citizen of Monaco.
H.S.H the Sovereign Prince may, however, grant a dispensation regarding this residency requirement when granting the Sovereign Ordinance of naturalisation.
Normally, the following factors are considered during the grant of naturalization:
- Whether the applicant has family ties to the Monegasque community?
- Whether the individual is well integrated into the economic, social or cultural life of the Principality?, and
- Whether the individual is deemed worthy of this favour by the Sovereign Prince?
- Whether the applicant is exempt from military service in his or her country of origin?
- Whether the applicant has renounced his or her previous nationality?
Citizenship will result in naturalization of all children of the applicant who are under the age of 18 years.Contact us to receive more information about this article.
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