Notaries in Monaco: A Restricted Circle Ensuring Absolute Legal Security

One aspect often surprising to international investors is that, in the Principality of Monaco, the number of notaries is strictly limited. Unlike France or other European countries where notarial offices number in the thousands, Monaco has only three Notarial Offices.

This concentration is no coincidence. It ensures centralized records, perfect control of land ownership, and absolute legal security. PIRAS Immobilier introduces you to the guardians of Monégasque property law.

Three Offices for One Country: Excellence Through Rarity

In Monaco, notaries are public officers appointed directly by Sovereign Ordinance of the Prince. They hold a delegation of public authority, and their number is fixed by law (numerus clausus) at three notarial offices.

This unique organization allows notaries to maintain an almost exhaustive knowledge of the history of Monaco’s real estate assets. When a property changes hands, it is very likely that the same notary—or their predecessor within the same office—handled the previous transaction 10 or 20 years earlier. This provides an unparalleled level of traceability for property titles, virtually unmatched worldwide.

The Real Cost: Understanding the 6.25%

Monégasque notaries also act as tax collectors on behalf of the State. For a standard real estate acquisition (resale property), acquisition costs—commonly referred to as notary fees—amount precisely to 6.25% of the purchase price.

They are broken down as follows:
4.75%: Registration duties (tax paid to the Public Treasury)
1.50%: Notary fees (remuneration of the notarial office for drafting the deeds)

PIRAS Immobilier Insight:
For new properties or off-plan purchases (VEFA – Sale in Future State of Completion), this rate is reduced to 2.50% (1% registration duties + 1.5% notary fees), representing a major tax advantage for newly built real estate in Monaco.

Directory: The 3 Notarial Offices in the Principality

As there are only three, knowing their details is essential. Each office is located in a strategic district of Monaco:

1. Office of Maître Henry REY (and Maître Charles-Henri REY)
Profile: A historic and emblematic office located on the Rock, at the political and institutional heart of Monaco
Address: 2, Rue Colonel Bellando de Castro (Monaco-Ville)

2. Office of Maître Nathalie AUREGLIA-CARUSO
Location: Situated on a prestigious commercial avenue, close to the Casino
Address: 4, Boulevard des Moulins (Monte-Carlo)

3. Office of Maître Magali CROVETTO-AQUILINA
Accessibility: Located at the Condamine area.
Address: 31, Boulevard Charles III 

Can You Choose Your Notary?

Yes. The principle of free choice of notary also applies in Monaco. However, given the limited market, it is very common for the buyer’s and seller’s notaries to collaborate on the same transaction. The geographical and professional proximity of these three offices allows for remarkably smooth and efficient communication.

PIRAS Immobilier: The Essential Link

Within this highly structured legal framework, the role of the real estate agency is to prepare the groundwork. The PIRAS Immobilier team works daily with the clerks of all three notarial offices, preparing files well in advance so that everything is perfectly clear on signing day.

This trusted relationship allows our clients to complete transactions within optimized timeframes, whether signing with Maître Rey, Maître Aureglia-Caruso, or Maître Crovetto-Aquilina.

Do you have questions about the legal purchase process in Monaco ? Contact us.