Setting up a business in Monaco

There are clear advantages to starting up a business in Monaco – whether  out of professional or personal choice. With its superb location in the heart of Europe and its moderate tax regime and business-friendly government, it is the perfect country for commercial success on the Continent.

Advantages include:

• Supportive network of professionals from the Monaco Chamber of Commerce and other professional networking groups
• No income tax (except for French and US residents)
• No property or council tax
• No tax on profits of Monaco companies if more than 75% of the turnover is in the Principality.
• VAT is 19.6% or 5.5% (the same as in France)

Before a new business can be established in Monaco or an international company can establish administrative offices or national branches, prior authority is required from the Monaco Chamber of Commerce and Economic Development and again WW Relocation can  help with the necessary introductions to the Chamber.

There are several ways to set up  a business in Monaco, depending upon the activities:

• As an individual
• General Partnership
• Limited Partnership
• Limited Company
• Monegasque Limited company
• Limited company with shares

Government assistance is available for such activities as setting up, prospecting for business, innovation, recruitment and training – in certain cases industry grants are also available.