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A Guide to Moving to Monaco
Moving to Monaco can be reasonably simple if you elect to work with WW Relocation-Monaco. The process will be far easier and less time consuming, as we gather as much information from you before the move, which enables the residency process to be started in advance. Our clients benefit greatly from this residency and relocation assistance. The following steps are required if you would like to move to Monaco with the least amount effort.
- As part of the process of your move to Monaco you will be required to establish a Monaco Bank account. The banks in Monaco require between € 500,000- € 1million, or more to open the account. Once the account is open and funded the bank will issue an attestation, or letter, which confirms that your account is open and that you have sufficient funds to support yourself/your family whilst resident in Monaco. If you have an employment contract with a Monaco company then you do not require this letter, but will still obviously need to open a bank account for your salary to be paid into. The minimum in this instance is lower. WW Relocation can assist with the bank selection process and guide you through the account opening process.
- You will need to find an apartment or house in Monaco to rent or to buy. The rental lease must be for a minimum of 12 months. WW Relocation assist by making a search of the available properties Monaco which match your criteria both in size and budget, and prepare a short list for you to visit during your initial trip to Monaco when you should allow 3-4 working days to complete the bank forms as well as rental/purchase property visits.
- Once you have found your rental property (or purchase) and signed the lease or act of purchase for the property, we can then request a date for the official residency interview with the residents section of the Monaco Public security offices. This will take approximately three weeks.
At the interview you will be required to provide the following documents for each person applying for residency over the age of 16 years:
- Valid passport
- Birth Certificate
- Marriage certificate if appropriate
- Any previous divorce orders (if appropriate)
- The lease for the rental apartment in Monaco, or act of Purchase
- The new Electricity contract for the rental/purchased property in Monaco
- The Monaco bank attestation letter
- A CV style summary of your personal and professional status/history detailing place of birth, education, work history and current business activity if any
- A police certificate stating you have No Criminal Record issued by the Police in the country where you have resided for the previous 5 years. This can be obtained either online or directly from the police in your country of current residence.
Once the interview is complete and all the above documents lodged, it will take approximately eight weeks for the Monaco residency card (Carte de Resident) to be issued for an EU passport holder. WW Relocation will track the process and advise when the card(s) are ready for collection in Monaco.
For a non EU passport holder, the Monaco residency application procedure is slightly different and takes between 5-7 months to complete. Please contact WW Relocation for more details on this .
The initial card is valid for one year, and this will need to be renewed each year for the first three years, then every three years and if you reside in Monaco after this, you may be considered for the privileged card which is valid for ten years. You are required to spend a minimum of three months each year for the one and three year cards and six months minimum for the ten year card.