Monaco Residency Cost 2026: The Real Numbers

The Real Cost Breakdown

The total cost of establishing Monaco residency can be broken down into several components. The most significant is the bank deposit — while no official minimum exists, banks typically require €500,000 to €1,000,000 as an initial deposit to issue the attestation bancaire needed for the carte de séjour application. This is not a fee or investment; it remains your money in your account, available for use.

First-Year Budget by Profile

Housing: The Largest Expense

Housing costs represent the largest ongoing expense. A modest one-bedroom apartment rents for €3,500-5,000 per month, a two-bedroom for €5,000-10,000, and a family apartment for €10,000-25,000. Buyers can expect to pay €1.5-3 million for a studio, €3-6 million for a two-bedroom, and €8-20+ million for a larger family apartment. The security deposit for rentals is typically three months' rent.

Tax Savings vs Cost of Living

The realistic first-year budget for a single person establishing Monaco residency is approximately €600,000-800,000 (including the bank deposit that remains yours), dropping to €80,000-150,000 in annual ongoing costs for housing, insurance, and living expenses. For a family, the first-year total is €800,000-1,500,000 with ongoing annual costs of €150,000-350,000. These figures assume a comfortable but not extravagant lifestyle. The tax savings for most qualifying individuals far exceed these costs within the first year.