How do I become a resident of Monaco?
Anyone holding a valid passport may apply for Monaco Residency. There are certain requirements and steps to take which must be completed before the official Monaco Residency interview is held, following which the application will be considered, and if successful, approved.
Following the official approval, the first Monaco Carte de Resident will be issued to the applicant, and is valid for one year (Carte Temporaire) the Residency Card is then renewed annually for the first three years, a simple process, then every three years (Carte Ordinaire) for a total of nine years, after which a ten year residency card may be granted (Carte Privilege).
The requirements in order to apply for Monaco Residency are as follows:
Establish a bank account in Monaco and deposit a minimum of €500,000 in financial assets. This is the minimum required amount by the Monaco government for residency applications.
The banks may request a higher amount, subject to their inhouse policy.
Rent an apartment in Monaco for a minimum of twelve months, or purchase a Monaco property.
Attend the official Monaco residency interview which must be requested in advance (a 4-6 week advance booking time is standard) at which all of the required documents must be submitted for the residency application to be processed.
The full list of Monaco Residency documents required is as follows:
- Valid passport
- Birth certificate
- Marriage certificate(s)
- Any previous divorce certificate (or death certificate if the applicant has a spouse who is deceased.)
- The police certificate as above
- The registered lease for the Monaco apartment
- The new electricity contract for the Monaco apartment
- A letter from the bank in Monaco where the account has been opened and funded , to confirm that the applicant has the minimum amount held with the bank . This is known as an Attestation Bancaire.
- A detailed CV or CV style summary for each applicant,
- The official Monaco Residency application forms completed and duly signed
- For applicants of 80+ years , a health check report may be requested. This may be obtained from a local GP in Monaco.
Once all of the above documents have been submitted at the offical inteview, the applicant will be considered and as long as all of the above requirements have been met, the Residency Card should be approved and issued within 10-12 weeks.
WWW Relocation will assist with each of the above steps required in applying for Monaco Residency, from the very beginning until completion of the entire process and the Residency Card has been issued upon approval.