Permanent residency in a series of countries that are the preferred destination of people interested by an economical or investment based permanent residency.

1. Permanent Residency in Monaco
In this series of posts we will review the conditions of permanent residency in a series of
countries that are the preferred destination of people interested by an economical or investment
based permanent residency. Do not hesitate to contact me at corporate@offshorepremium.com if
you need more information in relation to this matter.
Visa Requirement
For Non EU resident you will need to apply for a long stay visa prior to start the process of
application of the resident visa in Monaco. We can assist you with the process. This first step
will be done with French Embassies.
This is not required from EU and Swiss citizens.
Minimum Investment Requirement
Contrarily to a common misconception Monaco residency is not subjected to any conditions of
minimum investment.
What you will need to apply for Monaco residency is a Certificate issued by a bank that you have
the necessary resources to live in Monaco.
Now there is no minimum amount required for a bank to issue said certificate. Depending of the
bank and the personal circumstances of the applicant banks have issued the certificate based on
deposit from 75,000 Euros (big retail bank) up to 5,000,000 Euros (private banks). Note that
banks are free or not to issue said certificate and the fact that a bank has once offered a certificate
based on a very reasonable amount of deposit does not mean that it should do so again or that
this example can be used with a private bank to request them to reduce the minimum amount.
This matter is strictly on a case per case basis.
Property
Here again and contrarily to another misconception you don’t need to purchase a property in
Monaco to become a resident. Renting a property may be sufficient. The size of the property
must be adapted to the size of your family.
Tax Benefits
The tax benefits mentioned below are not applicable to French citizens that remain subjected to
French taxes.
Monaco does not have personal income tax, does not have capital gain tax and does not tax
wealth as well. There is no inheritance tax when inheritance is in direct line of descendance
(from parents to children)

2. May Monaco Citizenship be obtained?
It is possible after 10 years of residence to apply for citizenship. But the application is subjected
to the acceptation of the Prince of Monaco currently Albert II and acceptation are made on a
discretionary basis.
How long does it takes? How much does it cost?
For EU national or Swiss our fees would be in the range of 4500 to 5000 Euros for a person and
7000 Euros for a couple. The timeline to complete the file would be around 3 to 4 months.
For Non EU national our fees would be in the range of 5000 to 6000 Euros for a person and 8000
Euros for a couple. Our fees includes assistance with the process of long stay visa with French
authorities. The timeline to complete the file would be around 6 to 7 months.