MonacoCompany formation, tax and banking
No personal income tax for residents, and world-class banks on the doorstep.
Monaco charges residents no income tax, no wealth tax and no capital gains tax. The exception is French citizens, who stay taxable in France under a 1963 agreement. For a family that genuinely moves there, it's still one of the cleanest personal tax results in Europe, with Schengen travel and top private banking close by.
It's a place to live, not a place for companies. Businesses there pay 25% if more than a quarter of their turnover comes from outside Monaco, so the value is in where the family lives, not where the company is.
Why people choose Monaco
- No income, capital gains or wealth tax for residents, unless you're French
- 0% inheritance tax between parents and children
- Around thirty banks, including major private banks, on your doorstep
- Schengen travel and Mediterranean life, a natural fit if you own a yacht
Where Monaco fits
- Personal residency
- Family offices
- Yacht ownership
Where Monaco fits in a structure
Typical role · Where the family lives
Monaco is where you and your family live, not where your companies sit. Residents other than French citizens pay no income, capital gains or wealth tax there, so it's the family's residence that does the work. Companies based in Monaco pay 25% if more than 25% of their turnover comes from outside Monaco.
What it depends onYou must genuinely live there, with a Monaco home, a bank confirmation of your deposit and real time spent there, and French citizens stay taxable in France under the 1963 agreement.
A simplified picture to explain the idea, not a recommendation. General information, not tax or legal advice.
Opening a bank account
Monaco has around thirty banks, including CFM Indosuez, Julius Baer, EFG, UBS and Barclays Monaco. To apply for residence you need a Monaco bank to confirm your deposit, usually EUR 500,000 or more. Banks there are conservative, personal and slow to take on new clients.
How tax works here
No income tax, no capital gains tax and no wealth tax for residents other than French citizens. Inheritance tax is 0% between parents and children, and up to 16% for unrelated heirs. Companies pay 25% on profits if more than 25% of turnover comes from outside Monaco. VAT is charged at French rates.
Real presence, and who can see the owners
You need to genuinely live there: a Monaco address you own or rent, proof you can support yourself, a clean criminal record and, in practice, real time spent there. The residence card is renewed every year for the first three years. The real owners of companies are registered privately with the authorities.
When to choose it
Choose Monaco when the goal is personal tax residence for a family with substantial cash and investments, when a yacht and Mediterranean life are part of the plan, and when the family can genuinely live there.
You get a written comparison, not a sales pitch.
Every Monaco recommendation comes as a written comparison with the alternatives — whether the setup will stand up to scrutiny, how easy banking will be, which tax treaties apply, who can see the owners, what it costs to run each year and the risk to your reputation — so you can see the trade-offs before you commit.
Considering Monaco? Get a written comparison first.
Answer six questions and our team will come back with a shortlist, rough costs and where you could bank.
Questions we hear on every Monaco intake.
- How much money do I need for Monaco residency?
- There's no official minimum, but banks usually want a EUR 500,000 to EUR 1m deposit before they'll issue the confirmation you need, plus a rented or owned home in Monaco.
- How long does Monaco residency take?
- Two to four months from applying, once your home, the bank confirmation and police clearance are in place.
- Does Monaco residency work for French citizens?
- Not for tax. French citizens living in Monaco still pay French income tax under the 1963 agreement, unless they lived there before 1957.
What we typically deliver in Monaco
Residency by Investment
Golden visas and residency in 13 countries — Portugal, the UAE, Malta, Greece and more.
AdvisoryFamily Office Set-up
Designing single- and multi-family offices: who decides what, written rules, and how it runs day to day.
BankingPrivate Banking Introductions
Personal introductions to top private banks in Singapore, Hong Kong, Monaco, Switzerland and London.
StructuresYacht & Aircraft Registration
Choose the flag, register and ownership setup for your yacht or private jet.
More Europe jurisdictions & related insights
United Kingdom
A respected base for trading companies, with the world's widest network of tax treaties.
Malta
An EU licence you can use across Europe for online gaming, funds and fintech.
Isle of Man
Aircraft, yacht and online gaming registrations under familiar British law.
Every engagement begins with a twenty-minute advisory call. The fee is in writing before any work begins. No hourly billing.