A thriving business center with world-class facilities, high standard of living, temperate climate, a favorable tax regime, Monaca offers Residence Permits without any onerous investment requirements or other conditions.
Monaco has traditionally been the residence of choice of the wealthiest and most famous individuals. The Principality is an independent sovereign state established since 1297 and a full member of the United Nations.
French is the official language, but Italian and English are widely spoken. Monaco has its own legal system but its law is to a large extent based on the French Civil Code.
Benefits of Monaco Residence Permit
Holding a residence permit in Monaco entitles the investor immigrant to the following benefits:
- Liberal Tax Regime
- Accessible location with sophisticated facilities
- A safe environment with a high standard of living and education facilities
- Visa-free travel within the Schengen Area, UK, USA, and other developed nations.
|Country Size||2 km2|
|GDP (billion current USD)||6.08|
|Earning per capita (current USD)||167021.0|
|Passport Meter||Click Here|
|Cost Of Living||Click Here|
Investment Requirements: Monaco Residence Permit
- There is no minimum investment requirement imposed on immigrants.
- Monaco requires applicants seeking Resident Permits to have significant wealth.
- The resident is required to have an account with a banking establishment in Monaco
. Theapplicant is required to own or rent an apartment in Monaco. Renting a one bedroom apartment in Monaco for five years may cost around 180,000 Euros. Renting a bigger home or buying property may involve additional investment.
Fees: Monaco Residence Permit
|Issue of Temporary Permit valid for one year||10 €||2 Renewals possible|
Processing Time: Monaco Residence Permit
|Processing Time||Residence permit will be available within six weeks of investigation and approval.|
Documents Required: Monaco Residence Permit
Document Required for Monaco Residence Permit
- Proof of residence
- Proof of sufficient financial resources
- Proof of good character
- Valid passport
- Birth certificate
- Marriage certificate
- Passport of each child aged below 16 years
- Proof of custody, adoption, and schooling as applicable
- Proof of student status
- Proof of divorce or legal separation
Application Procedure: Monaco Residence Permit
Every individual aged above 16 years seeking Residence Permit in Monaco is required to fill an application. A non-EEA national must obtain a long-stay visa for Monaco through the nearest French Consulate. EEA nationals can directly apply with the Residents section. Upon submission of the form and other documents, the same shall be investigated and residence permit shall be issued if the application is approved. The permit is initially valid for one year and can be renewed on an annual basis.
Click here to learn more about the government policies and procedures governing the issue of Residence Permits in Monaco.General Information: Contact us to receive more information about this article.
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