23rd August 2017
There are many good reasons for you to consider becoming a Monaco resident. Investopedia cites “a pleasant climate, modern creature comforts, [and] glamour” as attractions of living in this French Riviera microstate, which is also “a short flight or drive to other European destinations”. You will need to have a certain amount of money to set up home in Monaco, but you shouldn’t necessarily feel daunted. Here is a quick and to-the-point guide to applying for residency of this city-state.
Who can apply for Monaco residency? In theory, anyone. In practice, however, you might find your application efforts hamstrung unless you can jump through various, often demanding, hoops.
For your application, you will need to be interviewed by Monaco’s local police – Sûreté Publique. You will need to show that you are sufficiently wealthy to support yourself in Monaco without becoming gainfully employed – unless you hold a valid work contract. You could open a bank account that has enough funds for the bank to vouch that you can indeed sustain yourself in the Principality.
You may also need to have a legitimate rental contract for Monaco accommodation. The lease would have to be for a rental period of at least 12 months.
You will need to show, with photos, a filled-in official Residency Application form and a recent – less than three-month-old – copy of your birth certificate. Also, you will have to present your Passports in colour copies and a finished document indicating that you have been put through a security check and hold no criminal record from wherever your home country has been over the previous five years. This document, too, must be less than three months old.
If it is not possible for you to supply any of the aforementioned information for a genuine reason, then the Princely Government of the Principality of Monaco asks you to consult its Residency Section. As the Government’s website explains, this department will review your situation.
Once this interview has happened and a document has been submitted, you will be faced with a wait – which could last as long as eight weeks – for your application to be approved. Should it actually be approved, you will be issued a Monaco Residency card called a “temporaire” card. This will remain valid for 12 months and can be renewed for three years in a row.
After you have received and used three consecutive “temporaire” cards, you could follow them up with an “ordinaire” card, which has three-year validity and is thrice renewable. After three of these cards have expired, you can have a “privilege” card, which will stay valid for a decade.
There is much more to say about this application process – and we can say it when we help you with relocating to Monaco. Our website includes further details about how we at Monaco Relocation Services can provide that valuable assistance.