Anyone can apply to become Resident in Monaco and once successfully approved results in the person receiving a ‘Carte de Resident’. Monaco Relocation Services are very experienced with the application process and here to make things go as smoothly as possible for you (and your family).
Applying for Monaco residency is an administrative process which revolves around an interview with the local Police (Sûreté Publique). MRS can help and guide you through this process which includes an applicant;
Demonstrating they are wealthy enough to support themselves in the Principality without engaging in gainful employment (unless they have a valid work contract) by opening a bank account with enough funds in your account for the bank to issue an ‘attestation bancaire’, a guarantee which shows a Resident can support themselves in the Principality. The monetary sum required on deposit varies greatly from bank to bank but generally ranges from €100,000 to upwards of €2 million per adult (MRS have strong relationships with Monaco banks).
Have a valid rental contract for accommodation or the deeds to a property owned in Monaco. To qualify for Residency, a lease must be for a minimum 12 month rental period and be of a suitable size for all members of an applicants family.
Various documents must be presented at interview including;
A completed official Residency Application form along with photos
A recent copy of your birth certificate (less than 3 months old)
A colour copy of your Passports
A completed security check document showing you have no criminal record from the country in which you
have resided during the last 5 years. This also needs to be under 3 months old.
A colour copy of your marriage certificate where applicable
A health certificate for those over 70 years of age.
After the interview has taken place and document submitted, an application will be processed and normally takes up to 8 weeks for approval.
There are three types of Monaco Residency card that relate to how long a person has lived in the Principality;
Temporaire – first card issued, valid for 12 months and renewable for three consecutive years.
Ordinaire – follows 3 consecutive ‘temporaire’ cards, valid for 3 years and renewable 3 times.
Privilege – follows the above ‘Temporaire’ and ‘Ordinarie’ cards and is valid for 10 years.
There is no charge from the Police for submitting a Residency Application, the main true costs of Residency relate to the Property requirements and funds deposited on a bank account.
MRS have helped numerous families and individuals successfully gain Residency in the Principality – we would be delighted to help ensure you get through this process.