The Principality of Monaco is a sovereign micro-state associated with France. It is one of the smallest and densely populated countries. Monaco is widely known for its casino in the city of Monte Carlo.
The official language is French. The currency: EUR. The capital is the city of Monaco.
A favorable tax climate and a stable political and economic situation attract investors from all over the world. This jurisdiction is considered as one of the most reliable financial centers in Europe.
Registering a company in Monaco and opening an account for a company in Monaco will be a good option for those, who are planning to start a business in Western Europe.
Legal forms
If you decide to register a company in Monaco, we recommend that you consider the most common business entity types:
- SAM (Corporation). Such companies are registered for commercial, insurance and financial activities. The number of founders: at least 2. The share capital: 150,000 euros;
- SARL (LLC). Another popular form of company with limited liability for deposits. Type of activity: commercial. The number of founders: at least 2. The share capital: 15,000 euros;
- SNC (Company with unlimited liability). The share capital: no requirements for the amount (distributed among participants);
- SCS (a company with simple management) and SCA – a joint stock company with participants that have different responsibilities;
- SCI. Such a company does not conduct business activities. You can register it for real estate management. Minimum capital: 2 000 euros.
Tax rates
If you are interested in setting up a company in Monaco, then you should know that the corporate tax rate in Monaco is 33.33%. In the first 2 years, absolutely all companies are exempt from the tax, and after another 3 years they have a preferential treatment.
There is no income tax if the company's turnover outside the state is not more than 25%. Also, there is no property tax.
Registration procedure
Our customers most often choose to register a SAM in Monaco or to set up a SARL in Monaco. To do this, you need to submit a request, and only after obtaining permission can you start registering a Monaco company.
By contacting YB Case experts, you will get professional assistance at all stages of opening a business abroad. In order to receive a qualified advisor, please call our office.
Registration nuances
Non-residents who are interested in registering a company in Monaco remotely, will need the following:
- To appoint a local director;
- To open a corporate bank account in Monaco;
- To register an office in Monaco;
- To pay the tax on authorized capital in the amount of 1% during the registration process.
- In addition, the company is obliged to provide bank statements and profit and loss statements (annually), conduct an audit and store all financial documents in a real office.
Setting up a Monaco company can take 2-3 weeks.
Before issuing a permission for opening a company in Monaco the state authorities are considering the following:
- Qualification and professional skills.
- Reputation.
- The presence of a local agent.
- The experience.
- The presence of the company address (carefully checked by the authorities).
- The share capital.
If you want to set up a company in Monaco, please note that business owners can apply for a residence permit.
How to open a Monaco company?
In order to set up your own business in Monaco, please request for an appointment with YB Case experts. We will provide you with professional support on registering a company in Europe and opening an account for a company in Europe promptly.
Call our office by using the contacts listed on the company's website.
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