Monaco

Monaco Carte de Séjour Overview

The Monaco Residence Permit, known as the Carte de Séjour, is open to foreign nationals aged 16 and above who can demonstrate sufficient financial means and secure qualifying accommodation in the Principality. 

Monegasque law does not specify a minimum deposit amount; it requires only that applicants demonstrate financial self-sufficiency through a reference letter from a Monaco-licensed bank.

In practice, Monaco’s private banks set their own internal thresholds and typically require a minimum deposit of approximately €500,000 (approx. US$590,000) before issuing that letter, with some institutions requiring significantly more depending on the applicant’s profile.

The permit follows a tiered structure: an initial one-year temporary card, renewable annually; an ordinary three-year card after three years of continuous residence; and a privileged ten-year card after ten years of genuine residence. 

A spouse, partner in a long and durable relationship, dependent children aged 16 and above, and parents under certain conditions are all eligible for inclusion. Children under 16 are issued a separate Travel Document.

Eligibility Requirements

All applicants must meet the following conditions.

Accommodation

Applicants must demonstrate a right to live in Monaco through one of the following:

• Ownership of a residential property in Monaco in the applicant’s name
• A rental agreement for a property in Monaco with a minimum term of 12 months, registered with the relevant authorities
• Directorship or shareholding in a Monaco company that owns or rents residential property in Monaco
• A certified letter of accommodation from a close relative, spouse, or partner with whom the applicant will reside, accompanied by proof of that person’s property ownership or rental contract

Financial Self-Sufficiency

Applicants must demonstrate sufficient financial means to live in Monaco without relying on public assistance, through one of the following:

• A bank attestation from a Monaco-licensed financial institution confirming sufficient funds; in practice, Monaco banks require a minimum deposit of approximately €500,000 (approx. US$590,000), though the exact threshold varies by institution and applicant profile
• An employment contract with an employer established in Monaco
• Incorporation of a Monaco company creating at least 10 new jobs
• A certified support letter from a close relative, spouse, or partner who is already a Monaco resident and can demonstrate sufficient means to support the applicant

Character and Documentation

• Valid passport with sufficient remaining validity
• Clean criminal record from every country of residence in the five years prior to arrival in Monaco, issued within three months of application; documents not in French, English, or Italian must be accompanied by a certified translation
• Health insurance valid in Monaco

Visa Requirement

Non-EEA, non-Swiss, and non-Norwegian nationals must apply for a French long-stay visa (Type D) through the French consulate closest to their most recent country of residence before applying for the Carte de Séjour.

Permit Fees

• Temporary card (1 year): €80 for first issuance, €40 for renewal
• Ordinary card (3 years, issued after 3 years of residence): €100 for first issuance, €50 for renewal
• Privileged card (10 years, issued after 10 years of genuine residence): €160 for first issuance, €80 for renewal

Route to Citizenship

After three years of continuous residence, holders may apply for the ordinary card, valid for three years. After ten years of genuine and continuous residence, holders become eligible for the privileged ten-year card and may simultaneously apply for Monegasque citizenship.

Citizenship is granted by Sovereign Ordinance of the Prince of Monaco and is not automatic upon meeting the ten-year residence requirement. The application is assessed on the basis of genuine integration into Monegasque society, good character, and compliance with all conditions of residence throughout the qualifying period. In exceptional cases, the ten-year requirement may be reduced.

Monaco does not permit dual nationality; thus, applicants granted Monegasque citizenship are required to relinquish all prior citizenships. 

Mobility and Taxation

Mobility

Monegasque citizens can access approximately 175 destinations visa-free or visa-on-arrival, including the United States, the United Kingdom, all EU and Schengen member states, Japan, Australia, and Canada, ranking among the top ten passports globally. 

The Carte de Séjour grants holders the right to enter, leave, and move freely within the Schengen Area without requiring a separate Schengen visa, as Monaco operates within the Schengen framework under the Franco-Monegasque Neighborliness Convention. 

Holders benefit from Monaco’s strategic location on the French Riviera, with Nice Côte d’Azur International Airport approximately 30 minutes away by car and direct connections to major cities worldwide.

Tax

Monaco levies no personal income tax, no wealth tax, no capital gains tax, no inheritance tax between direct family members, and no local property tax on individuals, a position in place since 1869. 

This applies to all Monaco residents regardless of nationality, with one exception: French nationals residing in Monaco remain liable for French income tax on their worldwide income under a bilateral convention signed in 1963. 

Obtaining the Carte de Séjour and a Monaco tax residency certificate are two distinct processes; residents who wish to document their tax residency for treaty purposes must apply separately for a tax residency certificate from the Monaco tax authorities. 

How to Apply

The program is administered by the Public Security Directorate of the Government of Monaco. Applications are submitted online through theGovernment online portal or in person in Monaco. The process typically runs as follows.

• Step 1: For non-EEA, non-Swiss, and non-Norwegian nationals, apply for a French long-stay visa (Type D) through the nearest French consulate in the country of current residence, submitting proof of accommodation in Monaco and proof of financial means.
• Step 2: Secure qualifying accommodation in Monaco through purchase, a minimum 12-month registered rental agreement, corporate property, or a certified letter of accommodation from a qualifying relative or partner.
• Step 3: Open a bank account with a Monaco-licensed financial institution and obtain the mandatory bank attestation confirming sufficient financial means; allow adequate time for the bank’s KYC process, which may take several weeks.
• Step 4: Compile all required documents, including a valid passport, criminal record certificates from all countries of residence in the past five years issued within three months of application, proof of accommodation, bank attestation, health insurance, and four passport-style photographs; documents not in French, English, or Italian must be accompanied by a certified translation.
• Step 5: Submit the application to the Residency Section either online or in person and attend a mandatory in-person interview with the Public Security Directorate; processing typically takes 6 to 10 weeks following the interview.
• Step 6: Receive the temporary Carte de Séjour, valid for one year; renew annually while maintaining all qualifying conditions; after three years, apply for the ordinary card, and after ten years of genuine residence, apply for the privileged card and, if desired, Monegasque citizenship.