Offshore company in Monaco

General information

Tax rate

Time of establishment of the company

Minimum capital

Creating a company in Monaco

Monaco is a European state located in southern France. Based on services, tourism and real estate, the Principality has a thriving economy which has made Monaco one of the wealthiest countries in the world.

Monaco is an attractive State for incorporation, offering a number of different legal structures which make it possible to conduct a large range of activities, as well as wealth management, thanks to the use of fiduciary or commercial companies.

Points to bear in mind

Monaco is a particularly attractive jurisdiction for high-income individuals or companies planning to conduct business locally.

Companies registered in Monaco who derive more than 25% of their income from outside the country are subject to a 33% tax.

Companies registered in Monaco who conduct 100% of their business activities in Monaco are not subject to any tax on profits.

Therefore, opening a company in Monaco is only attractive tax-wise if the shareholders are not French citizens and if their business is conducted within Monaco, in which case they are exempt from taxes.

Taxes

Monaco tax regulations are highly favorable to individuals. Except for French citizens, who must pay income tax on income from France, individuals are not subject to any income tax. Monaco also has very favorable succession laws.

Corporate tax regulations are also advantageous, particularly for business conducted locally. In the latter case, companies are not subject to any tax on profits. Additionally, they can engage in international activities and remain exempt from taxes if these activities generate less than 25% of the company’s total revenue.

Accounting

Accounts must be kept. Specifically, a balance sheet and profit & loss statement must be issued yearly.

The accounting rules are strict and required whether the company is taxed or not.

Terms and conditions

There are no special requirements to comply with for creating a company in Monaco. Nevertheless, in some cases authorization may be required from the local authorities to form a company depending on its purported activities and corporate structure.

Company types

The most common types of companies in Monaco are SA (company limited by shares) and SARL (limited liability company). It is also possible to set up an SCS (limited partnership), SCA (partnership limited by shares), SNC (general partnership), or non-trading company. Holding companies, fiduciary entities, commercial agents and administrative offices may also be opened.

Share capital

Share capital is generally required to open a company in Monaco. Opening a SA requires €150,000. To open a SARL, only €15,000 are required.

Bank account

A multi-currency corporate bank account will be opened, with online web access, a Visa or MasterCard debit card, and all other standard payment methods.

Directors

Directors may be of any nationality.

Shareholders

The company’s shareholders may be of any nationality. The company may also be held by a holding company.

Required time frame

It takes two weeks to open a company in Monaco. This time period may be extended in the event of a prior request for approval to conduct certain financial or banking activities. Using a ready-made company will shorten this time period.

Holding companies

A holding company may be opened in Monaco which can in turn own, either directly or indirectly, company or membership shares of other trading or non-trading companies.

Renewal

Each year the company must submit a statement of accounts and declare its revenues, as well as have a local commercial domicile or premises.

A Monaco company may by administered by a local fiduciary.

Company registration procedure

Taxes and finances

Other information