MonacoTop · Relocation guide
Residency in Monaco — the 2026 guide
How to become a Monaco resident: requirements, costs, timeline and the property route to a carte de séjour.
Monaco grants residency to applicants of any nationality who can house and support themselves in the Principality. Residency — not citizenship — is what draws most international families: a Monaco resident pays no personal income tax (French nationals excepted under the 1963 treaty), no wealth tax and no capital-gains tax on a main home. The process is administrative and predictable, and owning or renting a Monaco home is the foundation of it.
Who can become a resident
There are no nationality restrictions. An applicant over 16 must show a place to live in Monaco (owned or rented), sufficient financial means, private health cover and a clean criminal record. EU/EEA nationals apply directly to the Monaco authorities; non-EU nationals first obtain a long-stay visa through the French consulate, as Monaco sits within the Schengen area via France.
What you need to qualify
Accommodation: title deeds or a lease (typically 12 months) for a Monaco property sized to the household. Means: proof of sufficient funds — commonly a Monaco bank relationship with a deposit in the region of €500,000, or an employment contract or company in Monaco. Plus a private health-insurance policy and a criminal-record certificate from your country of residence. A Monaco bank issues a reference letter that anchors the file.
The residence permit — and the path beyond
The carte de séjour is issued first as a temporary permit (one year, renewable), becomes ordinary after three years, and privileged after ten years of continuous residence. Residents must genuinely live in Monaco — the permit can lapse if the Principality is not your real home. Naturalisation (Monégasque citizenship) is possible only after at least ten years of residence and is granted at the Sovereign Prince's discretion; it is rare, and Monaco generally requires renouncing other nationalities on naturalisation.
Taxation — why residents come
Monaco levies no personal income tax on residents (the sole exception being French nationals under the bilateral treaty), no annual property tax and no capital-gains tax on a resident's principal home. There is no wealth tax. Inheritance and gift tax apply only to Monaco-situated assets and at 0% in the direct line. This regime, paired with safety and the Mediterranean setting, is the core reason HNW families relocate.
The property route
Because proof of accommodation is the pillar of the file, buying a Monaco apartment is the cleanest way to establish residency — it satisfies the housing requirement outright and signals commitment to the Principality. Renting a qualifying property works too. Either way, the residence application and the property transaction usually run in parallel, coordinated by your agent, notaire and bank.
Monaco residency — FAQ
- How do you become a resident of Monaco?
- Secure a Monaco home (buy or rent a 12-month lease), open a Monaco bank account and lodge sufficient funds, take out private health cover, and apply with a clean criminal-record certificate. Non-EU nationals first obtain a long-stay visa via the French consulate. Approval typically takes a few months.
- How much money do you need for Monaco residency?
- There is no fixed legal threshold, but banks commonly expect a deposit in the region of €500,000 to issue the reference letter the file relies on, alongside proof you can cover Monaco living costs. Buying property (Monaco averages €52,000–90,000/m²) both satisfies the housing requirement and demonstrates means.
- Do Monaco residents pay tax?
- No personal income tax, no wealth tax, no annual property tax and no capital-gains tax on a main home — the sole exception being French nationals under the 1963 treaty. It is this regime that draws most international residents.
- Can you get Monaco citizenship?
- Monégasque citizenship is separate from residency and far harder to obtain: naturalisation requires at least ten years of residence and is granted at the Sovereign Prince's discretion, typically requiring you to renounce other nationalities. Most international residents hold a carte de séjour, not a passport.
- Does buying property give you residency in Monaco?
- Owning a Monaco home does not automatically grant residency, but it satisfies the accommodation requirement — the foundation of the application — and is the most common route international buyers take. The purchase and the residence file are usually handled in parallel.
Planning a move to Monaco?
MonacoTop advisors coordinate the property, the bank introduction and the residence file end to end. Tell us your plans and we'll connect you with the right specialist.
Speak with an advisorThis guide is general information, not legal or tax advice. Requirements and figures are indicative and change — confirm your situation with a licensed Monaco advisor.