The conditions for settling in Monaco
To settle in Monaco
, you must have a resident card
. This card is issued by the Monegasque authorities to any foreign person over the age of 16 who resides in Monaco for more than three months a year. In order to obtain this card, three conditions must be fulfilled.
First of all, you have to certify a place of residence in the Principality
The property can be bought or rented
. In the case of an acquisition, the notarized title deed and an electricity bill justifying your address must be added to the file. In the case of a lease, the lease must be at least twelve months. The rental agreement must be registered with the "Direction des Services Fiscaux" (Tax Department). This document, accompanied by an electric bill to certify your address, will be attached to the file.
Then, you have to prove a good morality by providing a criminal record certificate issued by the country of origin
Failing this, it is possible to transmit an equivalent sworn statement.
In any case, the document must be kept for the last five years. If you have changed courses, then you must request this document from each country.
Finally, it is necessary to have sufficient financial resources.
To provide proof, you can provide, for example, a copy of your employment contract
referred to by the Employment Service of the Principality. A second possibility is to prove that you benefit from a support by a third party. In this case, you will need to provide a letter justifying the taking over by a third party (parent, spouse, cohabiting
partner, etc.). It will also be necessary to provide proof of this person's financial resources. The third possibility is to justify a large savings
(the minimum amount is
today 500.000€ in all banks of the Principality) by providing a reference letter. To obtain this letter, you will have to open a bank account
in one of the 35 banks and subsidiaries of foreign banks located in the Principality, before considering moving to Monaco.