Do I need to spend a minimum number of days in Monaco?

Monaco does not publish a statutory minimum stay requirement. However, your residency card is issued on the basis that Monaco is your primary residence. In practice, most residents spend at least 183 days per year in Monaco to maintain genuine residency status and to benefit from tax residency. Your home country may also have exit tax or deemed residency rules that require you to spend sufficient time outside that country.

Can I work in Monaco as a resident?

Residency and the right to work are separate. A Carte de Résident does not automatically grant the right to work in Monaco. To work for a Monaco employer, you need a work permit (Autorisation de Travail). Self-employed individuals and company directors of Monaco-registered companies have a different pathway. EU nationals have somewhat easier access to the Monaco labour market.

Is Monaco in the EU or Schengen Area?

Monaco is not a member of the European Union, but it has a customs union with France and uses the Euro. Monaco is de facto part of the Schengen Area — there are no passport controls at the French border. However, Monaco issues its own residence permits, which are separate from Schengen residence permits.

What happens to my tax residency in my home country?

Establishing Monaco residency does not automatically end your tax residency elsewhere. Most countries have specific rules about when you cease to be tax resident — often requiring you to spend fewer than 183 days in your home country and to have genuinely severed ties. You should take specialist tax advice in your home country before and during the transition. This is particularly important for UK, US, and French nationals.

Can my family also become Monaco residents?

Yes. Spouses, civil partners and dependent children can apply for Monaco residency as family members of a primary applicant. Each family member must submit their own application with supporting documents. Children under 16 are typically included on a parent's application.

How long does the whole process take from start to finish?

The timeline depends primarily on how quickly you can secure a property and open a bank account. Property searches can take 1–6 months; banking onboarding 4–12 weeks. Once you have both in place and your dossier is complete, DSP processing takes 2–4 months. A realistic total timeline from decision to residency card is 6–18 months.

Do I need a lawyer or agent?

The application process itself is straightforward and does not legally require a lawyer. However, given the complexity of the property market, banking requirements, and the importance of getting the dossier right first time, most applicants work with a specialist adviser. We can provide introductions to qualified professionals.

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The Residency Guide

How to Become a Monaco Resident

A practical, step-by-step guide to the Monaco residency process — from eligibility and property to banking, documentation and the DSP application.

6 steps·6–18 months typical timeline·Independent information

Minimum stay

No statutory minimum

Application fee

€80

Initial card validity

1 year

Processing time

2–4 months

The Process

The Six Steps to Monaco Residency

The process is structured and well-defined. Understanding each stage — and the common pitfalls — makes the difference between a smooth application and a lengthy delay.

011–2 weeks

Confirm Eligibility

Monaco residency is open to most nationalities. There is no minimum income requirement, but you must demonstrate sufficient financial means to support yourself without working in Monaco (unless you have a Monaco work permit). French nationals face additional requirements under the 1963 Franco-Monégasque Convention.

What you need

Valid passport
No criminal record
Proof of financial means (bank statements, investment portfolio)
Not a French national (or meet the additional Franco-Monégasque criteria)

Note

There is no minimum net worth threshold published by the authorities, but in practice, private banks and landlords expect substantial assets.

021–6 months

Secure a Qualifying Property

You must have a genuine residential address in Monaco before applying. This means either purchasing a property or signing a long-term rental agreement. Short-term lets and hotel stays do not qualify. The property must be your primary residence.

What you need

Signed rental agreement (minimum 1 year) or property purchase deed
Property must be in your name (or your company's name with you as beneficial owner)
Must be a genuine primary residence — not a pied-à-terre

Note

The Monaco property market is among the most expensive in the world. Rental prices for a qualifying 1-bedroom apartment typically start at €4,000–€8,000/month.

034–12 weeks

Open a Monaco Bank Account

You must open a bank account with a Monaco-based bank and deposit a minimum sum. The amount is not fixed by law but is set by the individual bank — typically €500,000 to €1,000,000 or more, depending on the institution. This account demonstrates financial ties to Monaco.

What you need

Passport and proof of address
Source of wealth documentation
Minimum deposit (varies by bank — typically €500k+)
Compliance interview with the bank

Note

Banking introductions take time. We recommend beginning this process in parallel with your property search, not after.

042–4 weeks

Prepare Your Dossier

The residency application is submitted to the Direction de la Sûreté Publique (DSP). You must compile a complete dossier of supporting documents. Incomplete applications are returned and restart the clock.

What you need

Completed application form (Demande de Carte de Résident)
Passport (valid for at least 1 year)
Birth certificate (with apostille)
Criminal record certificate from your country of origin (with apostille)
Proof of Monaco address (rental agreement or property deed)
Proof of financial means (bank statements, portfolio statements)
Monaco bank account confirmation letter
4 passport photographs
All documents in French or officially translated

Note

Documents from non-French-speaking countries must be officially translated by a sworn translator. Apostilles are required for most foreign documents.

051 day

Submit to the DSP

The completed dossier is submitted in person at the Direction de la Sûreté Publique on Boulevard des Moulins. You will receive a receipt confirming submission. You cannot submit on behalf of someone else — the applicant must attend in person.

What you need

All documents from Step 4
Application fee (currently €80)
Personal attendance required

Note

The DSP is open Monday to Friday. Appointments are recommended. The office is located at 3 Boulevard des Moulins, Monaco.

062–4 months

Background Check & Approval

The DSP conducts a background check in coordination with Interpol and the applicant's home country authorities. If approved, you will be notified to collect your Carte de Résident. The card is valid for 1 year initially, then renewable for 3 years, then 10 years.

What you need

No action required during this period
Remain available for any additional information requests
Do not leave Monaco for extended periods during processing

Note

Processing times vary. Straightforward applications typically take 2–3 months. Complex cases or incomplete documentation can extend this significantly.

Realistic Timeline

From Decision to Residency Card

Phase 1

Preparation

Months 1–6

Property search
Banking onboarding
Document gathering

Phase 2

Application

Month 6–8

Dossier compilation
Translation & apostilles
DSP submission

Phase 3

Approval

Months 8–18

Background check
DSP review
Card collection

Key Requirements

What You Need to Qualify

Monaco Property

A genuine primary residence — purchased or rented on a long-term basis. Hotel stays and short-term lets do not qualify.

Monaco Bank Account

An account with a Monaco-based bank with a substantial deposit. Typically €500,000 minimum, though this varies by institution.

Financial Means

Demonstrated ability to support yourself without working in Monaco. Bank statements and investment portfolios are the primary evidence.

Clean Criminal Record

A criminal record certificate from your country of origin (and any country where you have resided for 5+ years), with apostille.

Valid Passport

Valid for at least 12 months beyond the date of application. Some nationalities may require additional documentation.

Discuss Your Situation

Not sure if you qualify or where to start?

We offer a structured consultation to review your situation, timeline and requirements before you begin the process. Confidential and without obligation.

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Common Questions

Frequently Asked Questions

Ready to Begin?

Start Your Monaco Residency Journey

Whether you are at the research stage or ready to begin, we can help with property introductions, banking referrals and a structured consultation.

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