Monaco: Offshore Legal and Tax Regimes
Employment and Residence
This page was last updated on 27 February 2021.
Any non-French national wishing to take up employment in Monaco must obtain a work permit from the authorities, submitting a visa application, contract of employment and evidence of a fixed address in Monaco. There are no quotas on the hiring of foreign nationals and work permits are not hard to obtain, though priority is given to residents and nationals of Monaco.
Anyone wanting to reside in Monaco for more than three months must apply for a residence permit. Application rules were agreed with France in 1998; they distinguish between European Union nationals and others. The applicant must attend an interview at the local police station, bringing identity documents and a letter from their bank verifying that they are financially self-supporting. An applicant who has a conviction for a serious criminal offence will not be granted a residence permit.
A residence permit is usually issued within 45 days of the application. It is initially valid for one year and must be renewed annually for the next two years, after which it is granted for three-year periods. Once an individual has held a residence permit for nine years, they are entitled to a ten-year residence permit. This permit enables the applicant to apply for citizenship. Alternatively any person whose father is a national of Monaco can acquire Monégasque nationality by right.
There are no restrictions on foreigners or locals purchasing property in Monaco.