Becoming a Resident of Monaco: 

The Complete Guide to Relocation, Residency & Taxation

Relocating to the Principality is the culmination of a life project based on excellence, absolute security, and a privileged tax regime. PIRAS REAL ESTATE guides you step by step towards obtaining this prestigious status.

Obtaining the Monaco Residency Card (Carte de Séjour) is a structured process. This privilege, granted by the Direction de la Sûreté Publique (Public Security), is subject to strict criteria designed to ensure the quality of the neighborhood and the stability of the Principality. Whether you are an investor, entrepreneur, or retiree, this guide details the essential steps to make your change of residence a reality.

Why Choose Monaco Residency?

A Unique Fiscal Framework

The major attraction of Monaco lies in its "soft tax" regime. Residents (with the exception of French nationals governed by the 1963 bilateral convention) benefit from total exemption from personal income tax. There is also no property tax, no housing tax, and inheritance tax between direct heirs is zero.

Unrivaled Security and Quality of Life

Monaco offers a level of safety almost non-existent elsewhere, thanks to a benevolent police presence and a sophisticated surveillance system. Beyond security, the Principality excels in its educational offer (International School of Monaco), its state-of-the-art health infrastructure (Princess Grace Hospital), and its vibrant cultural and sporting scene (F1 Grand Prix, Monte-Carlo Ballets, Yacht Show).

Who Can Become a Resident? Administrative Prerequisites

Anyone aged 16 or over wishing to reside in Monaco for more than 3 months a year must apply for a Residence Permit. The procedure varies according to your nationality:
-EEA Nationals (European Economic Area): A valid identity card or passport is sufficient to begin the process locally.
-Non-EEA Nationals (UK, USA, Russia, Middle East, etc.): This is a crucial step. You must obtain a Long-Stay Visa (Type D) for Monaco before your arrival. This visa must be requested from the French Consulate in your current country of residence. Without this visa, the residency application will be rejected.

The 3 Pillars of Your Residency Application

To obtain resident status, you must satisfy three cumulative conditions: housing, financial resources, and good character.

1. Accommodation: Size Criteria and "Suitability"

This is the cornerstone of the process. You must prove you have a home in Monaco whose size is "appropriate to the composition of the household." The Public Security authorities are vigilant on this point:

A couple can reside in a large studio or a 1-bedroom apartment. A family with children must look for apartments with a sufficient number of bedrooms (minimum 2 or 3 bedrooms depending on the number of children).

You can prove this accommodation by:
-Buying a property (Property Title).
-Renting an apartment (Registered lease of at least one year).
-Free accommodation (Being hosted by a close relative who is a resident).

The PIRAS Expertise: We select properties for you that guarantee the validation of your file by the authorities, avoiding the risk of refusal for "unsuitable housing."

2. Financial Self-Sufficiency

You must prove that you can live decently in Monaco without being a burden on the State. Several options are available:

-Professional Activity: Presentation of an employment contract or authorization to practice a liberal/commercial activity.
-Savings (Without lucrative activity): You must open an account with a Monegasque bank. After checking your profile (compliance), the bank will issue a Bank Attestation certifying sufficient resources. Although no legal amount is published, banking custom generally requires a minimum deposit of €500,000 to €1,000,000 per main applicant.
-Support by a Third Party: Being financially supported by a third party (spouse, parent) who must provide proof of their own resources.

3. Good Character (Moral Standing)

A clean criminal record (or equivalent) covering your last five years of residence is required.

The Process: From Interview to Residence Card

Once the accommodation has been found with PIRAS REAL ESTATE and the bank account opened, you will submit your file to the Residents' Section. An interview will follow to verify your motivations.

The Different Types of Cards

Resident status is acquired progressively:
-Temporaire Card (Temporary): Issued to new arrivals. It is valid for 1 year and renewable 3 times.
-Ordinaire Card (Ordinary): Accessible after 3 years of residence. It is valid for 3 years and renewable.
-Privilégié Card (Privileged): The Holy Grail of the resident. Accessible after 10 years of continuous presence. It is valid for 10 years and testifies to a deep anchorage in the Principality.
-Conjoint de Monégasque Card: Issued to spouses of Monegasque nationals (valid for 5 years).

Note that to keep your card, you must physically reside in Monaco for at least 183 days a year (electricity/water consumption checks may be performed).

Trust Your Relocation to PIRAS REAL ESTATE

PIRAS REAL ESTATE is your natural ally in this transition. From selecting the ideal apartment meeting strict surface criteria to coordinating with our trusted banking and legal partners, Mauro PIRAS and Silvio PIRAS orchestrate your arrival so that your installation is as seamless as it is prestigious.

Contact our experts today to start your new life under the Principality's sun.