Choosing between investing or setting up a company in Monaco
The Principality of Monaco is a unique place in the world to start your economic activity through the creation of a company. Discover the advantages of setting up your business in one of the most beautiful financial centers in the world, which also attracts many investors. We invite you to explore the different types of companies in Monaco as well as the key information to create your business.
The benefits of creating and setting up your business in Monaco
Several countries in Europe represent great creation opportunities for companies. Let us think of Luxembourg and Ireland. Some entrepreneurs will even look across the Atlantic, towards Canada. Rest assured, no need to go that far to enjoy unique benefits. We invite you to discover the services and opportunities offered by the Principality of Monaco for business creation and management.
There are several undeniable advantages to setting up your business in Monaco. For starters, the Principality is one of the safest places in the world for businesses, residents and visitors. The Monegasque political context is stable. Banks offer advantageous conditions and seek to facilitate the procedures for entrepreneurs. The monetary currency is the Euro.
Monaco offers an exceptional living environment, just minutes from the France. The territory is located in a natural setting, on the shores of the Mediterranean, with exceptional panoramas. Many hotel, restaurant and commercial infrastructures attract tourist flows. Cultural highlights also make the Rock famous. A few minutes from Nice, the Principality is very well connected to transport infrastructure. Discover the popular districts of Monaco.
Why does Monaco attract investors?
From a financial point of view, foreigners can own all the shares of an LLC, Limited Liability Company. It is not necessary to be a Monegasque resident in order to be a shareholder in your company. The first two years of the company's fiscal year allow shareholders to benefit from a 2-year tax exemption.
In addition, one of the specificities of the Monegasque territory is not to apply tax on the profits of the company provided that at least 75% of its turnover is generated within the Principality. Finally, the minimum share capital required is quite low : €15,000 . This advantage allows you to focus your investment on other expense items that will be used to grow your business.
Do not hesitate to contact a lawyer and an accountant to discover all the advantages offered by Monegasque law, intended to facilitate the management of companies. It is still essential to ask experts about the Labour Code. Explore our guide to buying property in Monaco.
What are the types of companies in Monaco?
There are several types of companies that you need to know before thinking about settling on Monegasque territory. This variety of choices is offered to make the most of entrepreneurial activities.
The limited liability company has at least two partners. There is no maximum. They can choose the status of natural or legal person. However, the manager must necessarily be a natural person but not necessarily a partner. The minimum share capital is €15,000 . This is the ideal status for a commercial activity.
The Monegasque public limited company must have at least two shareholders. Please note that each partner may not be a member of more than 8 boards of directors of commercial companies with their registered office within the Principality. The share capital is €150,000 minimum. This status is indicated for commercial and civil activities.
The general partnership must contain in its name the names of the partners. The latter must be at least 2 in number. There is no maximum number. They can be both natural and legal persons. The SNC does not have a minimum share capital.
The limited partnership must have as a partnership name the name of one or more general partners. There are two categories of partners: general partners (merchants) and limited partners. There must be at least 2 of them. The statutes of natural and legal persons are possible. There is no minimum share capital and this form of company is suitable for commercial or civil activities. To set up your business, we invite you to consider new programs in Monaco.
What steps to create your company?
Here are the key steps to create your company in the Principality of Monaco.
Carry out the pre-authorization formalities
First of all, it is important to draft the articles of association of the company which must be drawn up under private signature or via a notarial deed. It is the Directorate of Tax Services that registers these statutes.
The Ministry of State must issue partners who are not Monegasque nationals with an authorization to carry on a commercial activity in the territory. With this in mind, the Administration analyses the professional integrity, the qualifications of the partners and the adaptability of the infrastructure. The partners must subscribe to the capital and open a professional bank account. Finally, they are obliged to justify the domicile of their activity in Monaco.
Post-authorisation registration formalities
When you have received authorisation to practise from the Monegasque authorities, you will have to undertake the following formalities:
- Register the company with the Trade and Industry Directory.
- Request the allocation of a statistical identification number (SIRET) from the Monegasque Institute of Statistics and Economic Studies (IMSEE).
- Make the declaration of your company to the Directorate of Tax Services.
- Join compulsory social organizations (unemployment, health, etc.).
- Create an employer file with the Employment Service to recruit the appropriate staff and benefit from recruitment aids.
In your interest, consult specialists who will support you in all your steps, depending on your type of business. They will also help you in its management.
No need to go abroad outside France, in the islands, in Canada, Ireland or Luxembourg. Monaco offers you all the advantages for the creation and management of your business. With the quality of its administrative and banking services, you have the assurance of an experience of excellence. Contact our real estate agency for any requests for information.