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Non-EU residents must first obtain a long stay French visa as their initial step to obtainining Monaco residency. The visa must be obtained at the French consulate in your country of residence. For more information please see here.

In order to obtain a residency card in Monaco you will need to show your proof of accommodation. This can be done in the following ways: 

1. Real estate acquisition - this would mean investing in a Monaco apartment or villa. There are a variety of properties available at differing price points. Often there are more properties available off-market and agencies share these properties with each other via an internal networking system, meaning any agency can present you products that are listed with other agencies. To find out the current properties available, please contact us here.
2. Long-term rental contract - this is a popular option for those seeking to obtain a Monaco residency. Often clients of ours choose to rent first before buying so as to understand the market more thoroughly. The minimum duration of your rental contract should be 12 months in order to obtain residency and you must have enough bedrooms for the number of people wishing to obtain residency in your family. You will need to provide a copy of your rental contract to the authorities when making a submission. For more details of Monaco properties available to rent, contact us here.
3. Corporate ownership of property in Monaco - if you are acquiring a property through a company, you must then provide evidence that you are the beneficial owner of the company that owns the apartment or villa in Monaco. To understand corporate ownership in more detail, please get in touch.
4. Lodging (hébergement) with a close family member - this would mean that you have a written a written consent form from the owner to occupy the property. You also need to provide the rental contract or the title deed document for the property. The property would need to have the adequate number of bedrooms in order to house you.

Along with the status of your living arrangements in Monaco you will also need to provide proof of your financial situation so you will never have to rely on the Monaco state for support. There are multiple ways to prove your financial self-sufficiency. 

1. Monaco bank account - you can choose to set up a Monaco bank account and deposit €500,000 with one of Monaco’s trusted banking providers. For our recommendations please contact us here. The bank will hold this deposit in your account for the duration of your time in Monaco. The deposit amount may actually change dependant on the bank in question, as some set a higher level of deposit. The bank will then provide you with a proof of deposit which you will need to submit to the Department of the Interior. 
2. Monaco employment contract - if you have a valid Monaco paid employment contract, you will be able to use this as proof that you will not be requiring social aid whilst living in Monaco. This therefore acts in the same way as your banking deposit and should be presented to the authorities when making your application, along with a letter from the Monaco Government authorising the company to offer you such employment.
3. Registration of a company - you can prove financial self-sufficieny by forming a company that provides at least ten new jobs to Monaco citizens or residents. In order to start a company in Monaco you will need to ask the permission of the government. Then when you apply for residency you will need to provide the letter from the government granting your authorisation. 
4. Family support - in this way you must provide proof that a close relative is providing you with financial assistance during your residency in Monaco. This could be a direct relative or a partner with whom you are living.

You will need to pass a police background check and you will need to provide a police report from your current country of residence.

Between 3-5 weeks (on average) of submitting an application for residency you will be invited to a formal interview. During this interview you will present the aforementioned documents and also your birth certificate. You will be asked about your previous work experience and also about your family situation.

Before being granted the residency you will need to pay any costs such as the production and processing of the Monaco resident card application. This depends on the category of the resident card. It is €80 for a temporary card and spouses of Monaco citizens and €100 for general residents. You will also be charged on the renewal of the card when that date comes.

There may be a delay of between 9 and 12 weeks from the interview stage and the approval of your residency.

You may wish to use a consultancy service to assit you through the residency process, if this is the case please contact us for recommendations.