Monaco is a sovereign city-state located on the French Riviera, very well known for its superb weather, luxury lifestyle and for the most glamour Formula One Grand Prix in the world. However expats also decide to relocate to Monaco to benefit from a favorable tax environment in one of the safest country in the world.
If you are interested in relocating to Monaco and apply for Monaco residency, here is a comprehensive guide to inform you about all the steps of the relocating process.
1 – Our Monaco professional network and friends
First of all we would like to inform you that we have a very strong professional network here in Monaco. We work every day with bankers, legal advisors, interior architects, Notaries, etc. We will be delighted to answer any of your question if you need assistance in your business affairs. Your private life is also important to us since we believe that Monaco is not only a destination but your future new home. We are native from here and we will be glad to share friendly tips about living in Monaco.
2 – Are you a EU-citizen or a non EU-citizen?
You can live in Monaco up to 3 months without having to apply for Monaco Residency permit. EU nationals do not have to apply for any long term visa for Monaco.
However if you are a non-EU citizen and you would like to benefit from the ideal Monaco tax regime you must apply for a long-term Visa for Monaco in the French Embassy of your country of permanent residency.
Note that if you are a non-EU citizen and you have been living in France for more than one year, you can directly ask for a residency transfer from the French Embassy in Monaco.
The process requires that you first provide the French Consulate or Embassy with a Monaco rental lease or proof of ownership. Therefore you need to consider committing for an apartment in Monaco without knowing your Visa’s situation outcome.
3- Finding your apartment in Monaco
Finding a perfect but affordable home will be the biggest challenge for you when planning on moving to Monaco. With one of the highest density of population in the world and high real estate prices, Monaco has a very competitive real estate market. In order to apply for Monaco residency permit, your Monaco proof of accommodation will be one of the following :
Renting an apartment in Monaco
When you are moving to Monaco and you are not looking to buy an apartment, the only alternative is renting an apartment. We will help you to find your perfect new home as we offer a wide range of apartments for rent starting at 2000€ per month for a studio apartment to a unique triplex apartment facing the Casino Monte-Carlo of 200.000€ per month. We remind you that to apply for Monaco residency permit you will have to sign a twelve months rental lease minimum. In addition to the duration of the lease, the Monaco authorities also require that the apartment is adapted to the family. For example a family composed of both parents with two children (boy and girl) will have to rent a 2 to 3 bedroom apartment depending on the age of the children.
You can find our guide to renting an apartment in Monaco here.
Buying an apartment in Monaco
If you prefer to buy an apartment in Monaco and show a proof of ownership during your residency permit application, you must know that there a no legal barriers that obstruct foreigners from purchasing a property here. It is important to remind you that Monaco authorities also check that the apartment is big enough for the person applying for Monaco residency permit. Once again you are in good hands as we collaborate with all the real estate agencies in Monaco and can also offer you our off-market properties. Some of our owners have been our tenants in the past because they decided to rent an apartment to understand the Monaco real estate market better.
If you decide to purchase an apartment in Monaco through a Monaco real estate company, you will have to provide documents showing that you the beneficial owner. We can help you if you prefer to set up this type of real estate company for privacy reasons.
You can find our guide to buying an apartment in Monaco here.
Being officially hosted by a relative (Certificat d’Hébergement)
It is possible for you to apply for the residency permit in Monaco with a Certificat D’Hébergement. This document can be downloaded on the Monaco Government’s website and completed by a member of your family who can house you in his or her apartment. In addition to this official document you will need to provide his or her rental lease or proof of ownership of the apartment. As per the above two options, we remind you that the apartment must be big enough for you all.
4- Showing proof of finance situation
In addition to provide documents showing where you live in Monaco, you will also have to show the authorities proof of self-sufficient funds:
You are employed in Monaco
Showing to the authorities a valid work contract is a simple proof that you have a serious intention to live here in Monaco without taking advantage of the social housing. You will only need to open a standard bank account in Monaco. The minimum deposit requested will depend on the bank.
You are not employed in Monaco
If you are retired or without any work contract on the Monaco territory, you must deposit 500.000€ in a Monaco bank. The bank will issue a proof of deposit which you will have to submite to the Monaco authorities when applying for the Monaco residency permit. There a plenty of banks in Monaco and this deposit amount can vary if you choose to open an account in a retail bank or in a private bank. We can introduce you to the bank according to your requirements and needs (wealth management, mortage, etc).
You are supported by someone
As an example if your son or daughter would like to apply for Monaco residency but they are not working in the Principality, you will be able to act as their support and provide documents showing you have enough funds to take care of their life in Monaco. It could be given from a direct relative or from a partner living in the same apartment.
5- Attending a Police interview
Once you have found your new apartment in Monaco and you have opened your bank account, you will need to gather few documents requested by the Monaco authorities and submit your application online through the Service des Residents. This department of the Monaco authorities will get in touch with you in order to set up a formal interview. The interview goal is to introduce yourself explaining your work and family situation as well as answering questions about your life (studies, relatives, work experiences, etc). You should receive your Monaco residency permit Carte de Séjour in the newt 3-4 months.
We have helped thousands of family moving to Monaco and we know that each application is unique. If you are a professional athlete, a worker or a person moving to Monaco to enjoy retirement, we will be glad to assist you : our partners are specialized in international law, tax advisory and commercial activity authorization if you decided to set up a new business in Monaco.
You can learn more about the documents needed for the Monaco residency process and how to apply for Monaco residency permit here.
6- Organizing your healthcare & insurance in Monaco
Monaco requires residents to have a home insurance. It is now mandatory when you rent or own an apartment in Monaco to have a home and liability insurance policy. The price can vary if you need to cover expensive goods like art or jewelry.
The health care system is excellent in Monaco. The public Princess Grace hospital is under renovation and should be ready in 2026. There are also clinics with different specialties like cardiology, orthopedic surgery, etc.
If you are living in Monaco without an employment, we recommend that you have a private health insurance. If you are employed or self-employed in Monaco, you contribute to public health service called Caisses Sociales de Monaco, therefore healthcare is automatically covered.