Your relocation to Monaco, simplified.

Yes. Monaco does not levy any income tax on individuals, regardless of the amount earned. This applies to all residents except French nationals, who remain subject to French income tax under the 1963 bilateral convention. There is also no wealth tax, no capital gains tax, and no property tax for individuals in Monaco.

Monaco requires proof of financial self-sufficiency. You need to deposit a minimum of approximately €500,000 in a Monaco bank account, secure accommodation (rent starts around €3,000–5,000/month for a studio), and demonstrate you can sustain your lifestyle without relying on local employment, unless you already have a work contract in the Principality.

The residency process typically takes 4 to 8 weeks from the submission of a complete dossier to the Sûreté Publique. However, preparation — opening a bank account, finding accommodation, and gathering documents — can take 2 to 3 months. Overall, expect 3 to 6 months from first steps to receiving your carte de séjour.

Monaco is one of the most expensive places to live in the world. A one-bedroom apartment averages €3,500–6,000/month in rent. Groceries are 20–40% more than France. Dining out costs approximately €30–80 per person. However, there are no income or wealth taxes, which can offset the high cost of living for high-net-worth individuals.

Monaco does not impose a strict minimum-stay requirement like some other jurisdictions. However, to maintain residency status, you must demonstrate that Monaco is your primary and habitual residence. The authorities expect you to have genuine ties — an apartment, regular presence, and local integration. Extended absences may result in non-renewal of your residency card.

Monaco is increasingly crypto-friendly. There is no capital gains tax on cryptocurrency profits for individuals. The government has been developing a regulatory framework for digital assets. However, Monaco banks vary in their acceptance of crypto-sourced funds — our Bank Comparator tool helps identify which banks are most receptive to digital asset holders.