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Monaco Residency Permit

Monaco Residency Permit overview

The Monaco Residence Permit lets non-citizens live in Monaco by depositing at least EUR 500,000 into a bank registered there and buying or renting a property for at least 12 months. The main applicant must be over 18 and hold a clean criminal record, but there is no education, work experience, or minimum net worth requirement. Non-EU, EEA, and Swiss applicants first obtain a type D visa for Monaco through a French embassy or consulate, then attend an interview with local authorities, with the permit issued 6 to 8 weeks later. The first card is a temporary residence card valid for 1 year. After 3 years you can apply for a 3-year ordinary card, and after 10 years for a 10-year privileged card. Holders get Schengen access of up to 90 days within any 180-day period, and can add a spouse and children under 18. There is no direct route to citizenship, which is available only through descent or marriage.

Monaco Residency Permit benefits

  • Pathway to a 10-year residence card
  • Step-by-step approach by the authorities: a 1-year temporary card (renewable), then a 3-year residence card after 3 years of residence (renewable), then a 10-year residence card
  • Right to live in Monaco (work permit required as applicable)
  • Attractive tax system
  • Competitive real estate market with no capital gains tax
  • Freedom of movement within the Schengen Area
  • Possibility to obtain a Tax Identification Number (TIN) after 6 months of residence
  • Accompanying dependents: spouse and children under 18

Monaco Residency Permit requirements

  • Provide supporting documentation and a clean criminal record
  • Proof of sufficient resources to reside in Monaco without any professional activities
  • For non-EU/EEA nationals, secure a "type D visa for Monaco" from a French Embassy or Consulate
  • Pass an individual interview with local authorities
  • Spend a reasonable amount of time in Monaco (at least 3 months every year)

Monaco Residency Permit investment options

  • Purchase or rent (and keep a rental on a yearly basis) a property in Monaco suitable for the main applicant and dependents
  • Deposit and maintain at least EUR 500,000 into a bank duly registered in Monaco (minimum deposit or asset under management checked on a case-by-case basis depending on the selected bank)

Monaco Residency Permit application process

Processing Time: 9-12 Month

  • Pre-vetting and due diligence checks
  • Lease or purchase a property
  • Select a Monegasque bank
  • Deposit the investment
  • Apply for a "type D visa for Monaco"
  • Upon visa approval, land in Monaco and apply for the temporary residence card
  • Personal interview with local authorities
  • Receive the temporary residence card

Frequently asked questions

What are the requirements for the Monaco Residence Permit?

The investor deposits at least EUR 500,000 into a bank registered in Monaco, though the selected bank may set a different minimum based on its own rules and the investor's profile. The investor also buys or rents a property in Monaco for at least 12 months and provides a clean criminal record.

Is there an age limit to apply for the Monaco Residence Permit?

The main applicant must be over the age of 18.

Which countries can a Monaco Residence Permit holder access without a visa?

A residency card holder can travel within the Schengen Area for up to 90 days in any 180-day period.

Can an applicant's family be included in the Monaco Residence Permit?

Yes, though a residence card is not issued to a minor under 16. A minor under 16 can instead apply for a "Travel document for minors" (document de circulation pour enfant mineur).

Can the applicant's parents be included in the Monaco Residence Permit?

No. Only the spouse and children under 18 can be accompanying members.

Is there any language requirement for the Monaco Residence Permit?

No, there is no language requirement for the Monaco Residence Permit

What is the validity of the Monaco Residence Permit card?

The first card is a temporary residence card valid for 1 year and renewable. After 3 years of residence, the holder can apply for an ordinary residence card valid for 3 years and renewable. After 10 years of residence, the holder can apply for a privileged card valid for 10 years.

Can a Monaco Residence Permit holder work in Monaco?

Yes, subject to conditions. A national priority policy applies to employment access, and a work permit is required.

Can a Monaco Residence Permit holder access education, healthcare, and other social benefits?

Yes. A Monegasque resident receives the same education benefits as a Monegasque citizen and can access public health coverage by paying social contributions to the Monegasque public health system.

Is it possible to apply for citizenship through the Monaco Residence Permit?

There is no direct path to citizenship. It is only possible through descent or marriage.

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Monaco Residency Permit

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