Monaco Business, Taxation and Offshore Information
Monaco is a coastal mini-state with an area of less than 2km2 of the French Riviera. Out of a population of 39,200 (April 2020 estimate), only about 16% are native Monégasque. Monaco is well connected by air from Nice airport, by rail and by road.
The Grimaldi family has ruled since 1297, under the protection of France and various other countries. The 1963 treaty with France created a monetary union, confirmed a constitutional monarchy with French responsibility for external affairs, and subjected most French residents in Monaco to tax. Prince Albert II is the equivalent to a chief executive of the elected council, which has little power. Monaco has adopted the euro, has a civil code judicial system and its official language is French.
With its economy largely based on banking, tourism and high-tech light industry, Monaco has no desire to be a tax haven and has no 'offshore' sector as such. Like other continental states, Monaco’s procedures tend to be bureaucratic and cumbersome for international businesses. More »