| MONACO PROPERTY – RESIDENCE | Before you look at investing in a Monaco property you should learn as much as you can about the different laws that apply.
As a European national you can obtain a Monaco residence permit or ‘carte de séjour’ in three different ways. These must all be supported by documents including evidence of accommodation (generally, a lease of title deeds).
Firstly, if the person has been offered employment in a Monegasque company, they must supply a contract certified by the authorities.
Secondly if the person wishes to set up a new business in Monaco, they must supply documentation to support this and the application depends on the business license applied for.
Thirdly, a retired person with no commercial or business intentions must provide bank statements to prove their financial means.
The application process usually takes four to six weeks with a ‘carte de séjour’ being issued initially for one year.
Foreign nationals will not find restrictions on purchasing a Monaco property and you do not need to be a resident to own or lease a property. Indeed, a considerable amount of Monaco property is purchased by foreign nationals for investment purposes.
Non European nationals wishing to apply for residency must apply for a French visa and then attend an interview with the Monegasque authorities. Once satisfied the authorities will issue a ‘carte de séjour’ and the process normally takes no more than four months.
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