Monaco is an ideal place for all sorts of individuals. Its accessible European location coupled with world class facilities and pleasant climate make it a logical choice for entrepreneurs of all types to use as a base from which to continue their business activities, or for individuals retiring from business to establish themselves and enjoy their greater leisure time.
With its excellent local and international schools and a health care system considered second to none, Monaco caters well for residents of all ages.
The procedure for obtaining residence status is relatively straightforward, though some degree of control is exercised largely due to Monaco’s physical size. For any individual over 16 wishing to spend more than three months in Monaco, a residence card must be obtained. The process differs according to whether the individual is a national of an EEA state (ie the EU states plus Liechtenstein, Norway and Iceland) or Switzerland, or is resident elsewhere.
A non EEA/Swiss national must first obtain a long-stay visa from the French authorities before making an application in Monaco for a residence card. EEA and Swiss nationals do not need this visa and make an application for a residence card directly in Monaco.
The local process usually takes around two months and will require the applicant to provide various documents:
- Proof of his/ her civil status (eg a passport);
- Proof of accommodation in Monaco (eg a lease or title deeds if a property has been purchased);
- Proof that the applicant has sufficient means to live in Monaco (eg a Monaco bank attestation or employment contract);
- Proof of good character.
Where an individual does not intend to spend more than three months in twelve in Monaco, he does not need a residence card. Individuals may also rent or buy property in Monaco without being resident, without any consent to do so being required.