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Monaco does not run an investment migration programme, and it is worth saying that plainly before anything else. There is no minimum investment amount fixed in law, no government contribution, and no donation requirement. What Monaco requires is proof that an applicant can support themselves financially and has suitable accommodation in the Principality, assessed against banking-sector practice rather than a published government threshold. That distinction matters for anyone comparing Monaco against the Golden Visa programmes in Portugal, Greece, or Malta, since the underlying legal structure is genuinely different.
As immigration lawyers advising on Monaco alongside several EU residency routes, we position Monaco correctly from the outset: a residence permit governed by a bilateral agreement with France, not a golden visa scheme, and priced by the banking sector rather than a fixed government schedule.
Why This Isn't Really an "Investment" Programme
The Monaco residence permit, known locally as the carte de séjour, is available to anyone aged 16 or older who can demonstrate accommodation in Monaco and sufficient financial resources, whether through salary, professional income, savings, or documented support from a relative, spouse, or partner. There is no government-set capital figure to meet. Where the savings route is used, Monaco's private banks generally expect a deposit in the region of €500,000 to €1,000,000 before issuing the bank reference letter that supports the application, but this figure is set by individual banks based on the applicant's financial profile, not by Monegasque law.
This makes Monaco closer to an "independent means" residency route than a golden visa, and we describe it to clients in exactly those terms rather than borrowing the investment-programme language that fits Portugal or Greece but does not accurately describe Monaco.
Two Agreements, One Ordinance
Entry and residence conditions are set out in Sovereign Ordinance no. 3.153 of 19 March 1964, adopted alongside the Convention Franco-Monégasque de Voisinage of 18 May 1963 between France and Monaco. Monaco administers its own residence-permit system through the Residents' Section of the Police Department, but Monaco issues no entry visas of its own: non-EEA, non-Swiss nationals generally depend on the French consular network for the entry visa or residency transfer that precedes a Monaco application.
Proving You Can Support Yourself, and Where You'll Live
Two conditions sit at the centre of every application: accommodation and financial self-sufficiency. Both must be satisfied; there is no route that substitutes one for the other.
| Requirement | What It Involves |
|---|---|
| Accommodation | Ownership of a Monaco property, a registered lease of at least 12 months, accommodation held through a Monaco-incorporated company provided the applicant's shareholding and right of occupation are properly documented, or documented cohabitation with a close relative, spouse, or partner. The accommodation must be large enough for everyone included in the application, and must remain genuinely available for as long as residence is claimed on that basis. |
| Financial self-sufficiency | Most commonly demonstrated through a Monaco bank account and deposit, typically €500,000 to €1,000,000 depending on the bank, though financial support from a close relative, spouse, or partner, or proof of employment and salary within Monaco, can also satisfy this requirement. |
Practical Note: The Bank Account Route
Because the financial threshold is set by the bank rather than by law, the actual figure a client needs varies by institution and by the client's overall profile. Private banks conduct full know-your-customer and anti-money-laundering due diligence before opening an account, and this review, not the residency application itself, is often the longer step in practice. We recommend engaging with a Monaco bank early, since the account and bank reference letter typically need to be in place before the residence application can be filed.
Not Sure Which Route Fits Your Situation?
Our legal team will review your circumstances and confirm the accommodation and financial documentation your application will need, at no obligation.
Get in Touch Call Us: +90 532 132 92 33From French Visa Step to Residence Card
The sequence differs depending on nationality. EU, EEA, and Swiss nationals skip the French step entirely; most other nationals need a French visa or residency transfer first, since Monaco issues no entry visas of its own:
- Non-EEA, non-Swiss nationals generally apply for a French long-stay Type D visa at a French consulate, or, if already resident in France for more than a year, for a transfer of residency through the French Embassy in Monaco
- Secure accommodation in Monaco, through purchase, a registered lease of at least 12 months, or documented cohabitation
- Open a Monaco bank account and obtain the bank reference letter confirming financial self-sufficiency, where this route is used
- Prepare supporting documents: passport, a criminal record certificate from the last country of residence in the five years before arrival in Monaco, and other civil-status documents as applicable
- Submit the residence permit application to the Residents' Section
- Attend the administrative interview addressing the applicant's background and reasons for relocating to Monaco
- Approval and issuance of the residence card
Application Timeline
The residence permit stage itself typically takes 2 to 5 months from a complete submission to card issuance. Non-EEA applicants should plan additional time for the French visa or residency-transfer step, which generally adds several weeks before the Monaco application can even be filed, and for bank account opening where that route is used, which depends on the individual institution's due diligence timeline. The first card issued is the temporary residence card, valid for one year and renewable; holders generally progress to an ordinary card after several years of continued residence, and eventually to longer-validity categories, with the exact thresholds and conditions confirmed case by case with the Residents' Section.
What a Monaco Residence Card Actually Gives You
- The right to live in Monaco, with the temporary card valid for one year and renewable, progressing to longer-validity categories with continued residence
- Short-stay travel within the Schengen Area without needing a separate Schengen C visa, since the residence permit itself serves that function for the card holder
- No personal income tax, capital gains tax, or wealth tax for most residents, with French nationals a significant exception, addressed below
- No language or history knowledge requirement for the residence permit itself
- No published day-count minimum stay formula for the initial permit, though renewal generally requires evidence that Monaco is the holder's genuine residence or main centre of activity
- Access to Monaco's healthcare and, for children, its school system, alongside the security and lifestyle Monaco is generally known for
Who Can Apply, and Who Needs France's Visa First
Applicants must be at least 16 years old and hold a clean criminal record; health-coverage documentation may also be requested depending on the applicant's circumstances. Family members can generally apply in parallel or on a linked family basis, but each person aged 16 or older requires their own residence permit and supporting documentation, and the declared accommodation must be large enough to accommodate everyone included.
- Main applicant, aged 16 or older
- Spouse or partner
- Dependent children
EU, EEA, and Swiss nationals may apply directly with an identity card or valid passport; no visa is required. Most nationals of other countries must first obtain a French long-stay Type D visa from the French consulate closest to their most recent place of residence before a Monaco application can be filed. Applicants who have already been resident in France for more than a year generally apply instead for a transfer of residency through the French Embassy in Monaco. Either way, immigration into Monaco runs through the French consular network under the 1963 Franco-Monegasque agreement, since Monaco itself issues no entry visas.
The Zero-Tax Reputation, and the French Exception
Monaco genuinely levies no personal income tax, capital gains tax, or general wealth tax on most residents, a position dating to an 1869 ordinance. This does not mean no taxes apply at all: registration duties, property transaction taxes, VAT, and business profit tax for companies earning a significant share of turnover outside Monaco can still arise depending on the transaction or activity. There is one significant, and frequently overlooked, exception to the personal zero-tax position: under the 1963 Franco-Monegasque tax treaty, French nationals resident in Monaco generally remain liable for French income tax on their worldwide income, treated in substance as though still resident in France, with only narrow historical exceptions tied to residence in Monaco before the early 1960s. This is not a minor technicality for a French client; it changes the entire tax analysis, and we flag it before any French national commits to relocating on the assumption of zero tax.
For most other nationalities, Monaco's zero-tax position applies without this carve-out, though individual circumstances, including any tax obligations in the applicant's home country that continue regardless of Monaco residence, such as U.S. citizenship-based taxation, should always be reviewed with a tax adviser rather than assumed from Monaco's general reputation.
Ten Years, After Turning 18, With No Guarantee
Monaco does not recognise dual citizenship for naturalised citizens. Naturalisation may be requested once an applicant has been ordinarily resident in Monaco for at least 10 years following their eighteenth birthday, though the Sovereign Prince may grant a dispensation from this residency requirement. Assessment also considers family ties to the Monegasque community and integration into its economic, social, or cultural life. Even where the residence period is met, the decision rests entirely with the Sovereign Prince as a matter of discretion, and an application may be refused without stated reasons and without a right of appeal. Naturalisations are granted in small numbers each year. Before the Sovereign Ordinance of naturalisation can be signed, the applicant must be exempt from military service obligations in their country of origin and must have renounced their previous nationality.
Acquisition by marriage follows separate rules and does not require the same renunciation of nationality. Since 1 July 2022, the spouse of a Monegasque national may acquire Monegasque nationality by declaration 20 years after the marriage, provided the couple is still living together and other statutory conditions are met; this period remains 10 years for marriages registered before 1 July 2022. Given the general renunciation requirement for standard naturalisation and the genuinely low acceptance numbers, most long-term residents who value keeping their existing nationality remain on residence status rather than pursuing naturalisation, and we discuss this trade-off with clients rather than presenting citizenship as a routine next step after ten years.
Monaco Against Other European Residence Options
Monaco is not a like-for-like comparison with EU golden visa programmes, since it sits outside the EU and prices residency through banking practice rather than a government fee schedule.
No Fixed Investment Figure
Unlike Portugal, Greece, or Malta, there is no government-set minimum amount, only a banking-driven financial threshold.
Genuine Zero-Tax Position
For most non-French nationalities, Monaco's absence of personal income tax is unusually complete, extending to capital gains and wealth.
Schengen Travel Without EU Membership
The residence card lets holders travel within the Schengen Area without a separate short-stay visa, despite Monaco itself not being an EU member state.
No Fixed Stay Formula
Monaco publishes no simple investor-style minimum-stay rule, though renewal generally expects Monaco to be the holder's genuine residence.
Small, Security-Focused Jurisdiction
Monaco's compact size and security infrastructure appeal to clients prioritising personal safety and privacy.
Honest Limits on Citizenship
Naturalisation is genuinely difficult and discretionary, a factor worth weighing against jurisdictions with a defined citizenship timeline.
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Start Your Application [email protected]Why Clients Bring Their Monaco File to Us
With over 40 years of senior legal experience, Ketenci & Ketenci advises on Monaco alongside the EU residency-by-investment programmes we handle, which is why we describe Monaco accurately rather than folding it into the same golden-visa language that fits our other programmes.
- Correct framing from the outset: we do not market Monaco as an investment programme when it is not one
- French visa coordination: we manage the French Type D visa step for non-EEA nationals alongside the Monaco application itself
- Banking introductions: we help clients approach the right Monaco bank for their profile, since the account is often the longer step in practice
- French tax exception flagged upfront: we identify French nationals' distinct tax position before, not after, a relocation decision
- Multilingual support: assistance available in English, Turkish, Arabic, French, and Mandarin
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This page is provided for general informational purposes only and does not constitute legal advice. Financial and accommodation requirements are set in part by individual Monaco banks and are subject to change. For advice specific to your circumstances, please contact our legal team directly.