PRINCIPALITY OF MONACO RESIDENCE, THE PURCHASE AND RENTAL OF PROPERTY, TAXATION AND RELATED MATTERS

1. INTRODUCTION

Monaco has been an independent state since 1215 and today comprises a total area of 195 hectares (approximately three quarters of a square mile). The official language is French.

1. 2. RESIDENCE

There are essentially three ways in which a Monaco residence permit ("carte de séjour") may be obtained : firstly, by virtue of the applicant having been offered employment by a company registered in Monaco ; secondly, in conjunction with a request by the applicant to establish a new business in Monaco (in which event, the obtaining of a residence permit will be dependent on the business licence application being approved) ; thirdly, if the applicant is a retired individual who does not propose to carry on any sort of commercial or business activity.

The procedure for applying for a residence permit is dependent on whether or not the applicant is a national of the European Community :

1. (i) European Community nationals

Since March 1998 a simplified procedure has been introduced whereby application for a residence permit is now made directly to the Foreign Residents Section of the Sûreté Publique in Monaco. The application must be supported by various documents, including evidence of accommodation in Monaco (generally speaking a lease of title deeds to the property in question). In the case of an applicant proposing to take up employment in the Principality a contract of employment duly certified by the Monegasque authorities must also be supplied. In the case of a retired applicant, evidence of financial means (normally a bank reference) must be submitted. The application procedure generally takes four to six weeks, at the end of which a "carte de séjour", initially valid for a one year period, will be issued.

1. (ii) Application by non E C nationals

Application must first be made for a French visa at the French Consulate in the country in which the applicant is then resident. The documentation to be supplied with the application is essentially the same as for EC nationals (see (i) above) with the exception that, instead of the lease or title deeds of the applicant's accommodation in Monaco, an undertaking to produce, within three months of making the application, evidence of having such accommodation will normally suffice. 
The visa process generally takes not less than three months ; once issued the applicant will then be required to attend an interview with the Monegasque authorities.

Providing that the authorities are satisfied with the application generally a "carte de séjour" will then be issued, normally within a fortnight from the date of interview.