Moving to Monaco

The Complete Guide: Moving to Monaco

Every year, the city of Monaco attracts an international population because it offers its inhabitants a favorable living environment, an advantageous tax situation and a dynamic economy. However, it is necessary to organize your move and fully understand the issues and formalities related to settling in the Principality. You will find our different categories intended to facilitate your move to the Principality.

If you decide to establish your residence on the Rock, and become an owner in Monaco this guide will allow you to discover your favorite neighborhood as well as a selection of the main buildings. You can also estimate the cost of living or the salary that you can receive on average. On the other hand, this guide will inform you about the conditions for becoming Monegasque, obtaining a visa or a residence permit and thus benefiting from the advantages linked to residence: among other things, tax exemption.

If you are organizing your future move to Monaco, take the following elements into consideration and do not hesitate to contact Petrini Exclusive Real Estate Monaco for tailor-made support.

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Why live in Monaco?

The framework of life

Living in the Principality and obtaining resident status is a privilege that many covet. Indeed, a symbol of luxury, opulence and tranquillity, Monaco attracts new inhabitants every year from all over the world.


The Mediterranean climate

Located in the heart of the Côte d'Azur, between Italy and France, this country bordered by the sea and the mountains offers an incomparable living environment. Anyone who has chosen to live there, breathes an air of perpetual vacation thanks to its Mediterranean climate and its permanent sunshine.



Whether personal, financial or digital, Monaco is a city renowned around the world for its modern and efficient security system. This protection has no cost for the population, which does not pay local taxes. In addition, it also has an excellent reputation for its hospital care, its schools, its banking establishments and its Place du Casino de Monte Carlo.


The dynamism of the country

Considered the most dynamic job pool on the Côte d'Azur, the city of Monaco recruits, employs and creates jobs. On average, the salary is 10 to 15% higher compared to France, with the minimum salary amounting to 1,786.33 euros gross. This is partly due to the system of social contributions, the rate of which is lower than that levied by the French State.

Read our page: Here is the essential information to work in Monaco



On the other hand, the tax condition of the Rock is attractive since nationals and residents, with some exceptions, are not subject to income tax. Citizens with a residence or stay card are thus exempt from tax on their Monegasque income. The average salary is thus much more advantageous, especially for the French people who live there.


The banks

Banks in Monaco are very famous for being numerous, almost as numerous as its luxury hotels. Indeed, the financial center counts 29 banks listed on the territory of 2km² which total 129 billion euros deposited. There are no less than 19 in the Monte-Carlo district, the main square for banking establishments in the Principality. These data are a clear reflection of the economic prosperity of the Monegasque State, also making it possible to create jobs in the banking sector.


Administrative procedures

To become a resident, it is not enough to buy or rent an apartment. Indeed, any foreign person must apply for a residence permit when the period of residence exceeds 3 months per year. On the other hand, no visa is required for nationals of the European Economic Area. Nationals of non-EEA countries must apply for an establishment visa for Monaco.

In addition, to claim resident status, it is essential to certify that you are domiciled in Monaco in a dwelling whose size corresponds to the needs of the household. Another requirement is that the applicant must hold an employment contract, or have sufficient savings in a bank account in the Principality.

Read our page: How to become resident in Monaco and obtain the Monegasque resident card ?


Obtain Monegasque nationality

If you were not born to a father or mother of Monegasque nationality, there are other methods of acquiring nationality. The first solution: the civil marriage at the town hall. However, to make this request, you must meet certain conditions such as remaining married for ten years and living under the same roof as your spouse throughout the marriage. In addition, this period could be extended to 20 years.

The second option is to become Monegasque by sovereign naturalization. To do this, you must prove that you have lived in the Principality for ten years after coming of age. The decision regarding this privilege remains entirely at the discretion of H.S.H. Prince Albert II. In both cases, the applicant must also be integrated into the economic, social or cultural fabric of the Principality.


Accommodation in Monaco

Finding accommodation in the Principality has a certain cost. Indeed, the average price per square meter recently exceeded the 50,000 euro mark, i.e. a price increase of almost 75% in ten years. Despite the advantageous taxation of the country, it is necessary to calculate the ratio between the cost of your installation in the Principality and the tax exemption.

Thus, living in the Principality of Monaco has a certain cost, but this is counterbalanced by attractive taxation.

You have questions about renting apartments in Monaco, the ideal neighborhood to raise your children or the list of banking establishments? Our Monaco Real Estate Agency supports future residents in each of the steps related to their move to the Principality. As real estate professionals, we select excellent opportunities for you at the best prices.

If you have just purchased a property in Monaco and wish to enroll your child in school in Monaco, we advise you to read our articles on the list of international schools in Monaco.



The Districts

Here is the complete list of all the districts of Monaco

The Principality of Monaco covers 2.02 square kilometers and is divided into several districts. If you are particularly interested in the neighborhoods of this magnificent principality, you might want to know more about the specifics of each neighborhood in Monaco. Despite its small size, the Grimaldi family's country is full of history and charm. Over the decades, the territory has been massively urbanized and this continues with several large-scale projects. The inhabitants are of different nationalities, the official language is French, but also Monegasque. The population is mainly composed of French, Italians and British. The principality is known for its numerous restaurants and hotels. The recently renovated Hôtel de Paris is the best known. It offers sumptuous apartments including the Prince Rainier III and Princess Grace Kelly suites, which can reach a price of several thousand euros per night…

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immeuble de Monaco

The list of buildings in the Principality of Monaco

The Principality of Monaco currently has around 350 buildings in Monaco, whether luxurious, housing a breathtaking penthouse or a studio with luxurious finishes. You will find all these exceptional properties brought together on this page. Each of these residences offers a variety of luxury apartments for sale or rental, ideal for your move to Monaco.

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Becoming a resident in Monaco

What are the requirements to live in Monaco and Becoming a Monegasque Resident ?

The Principality of Monaco has many lovers around the world. This is partly explained by its worldwide reputation, in particular thanks to its very glamorous princely family, its Casino de Monte-Carlo or even for its international sporting events. Among these people, all would dream of settling in the Principality for its living environment, its Mediterranean climate or even its advantageous taxation. But what are the conditions for living in Monaco and obtaining the Monegasque resident card (also called residence permit)?

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Average salary in Monaco | Petrini Exclusive Real Estate

A higher salary than in other countries

In people's minds, Monaco is a little paradise on earth where money and champagne flow freely. But what is it really? Focus on the standard of living and benefits of Monegasque citizens and international workers, including the average salary in Monaco, which plays an essential role in this unique economic reality.

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Buying Guide

The complete buying guide by Petrini Exclusive

Acquiring a property is undoubtedly planning, building your future. Our Petrini Exclusive Real Estate Monaco agency, renowned in the Monaco real estate sector for over thirty years, offers its buyer clients experience and in-depth knowledge of the market. For a complete and informative real estate buying guide in Monaco, trust our expertise.

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Rental Guide

The complete rental guide by Petrini Exclusive

The principality of Monaco is a prestigious city known for its casino, its marina, the beauty of its districts such as Fontvieille, a business district located to the west of the Principality, and La Rousse, a residential district offering a view of the Larvotto Sea. It is especially renowned for its exceptional real estate. If you are looking for a rental guide in Monaco for real estate in Monaco, you are in the right place.

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Working in Monaco | Petrini Exclusive Real Estate Monaco

Here is the essential information to work in Monaco

The Principality of Monaco, with its tax advantages and thriving economy, attracts many foreign workers seeking opportunities to work in Monaco. Indeed, the country's economic dynamism continually generates the creation of new job offers within Monegasque companies. On the Côte d'Azur, Monaco is undoubtedly a highly sought-after employment area.

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Monaco tax | Petrini Exclusive Real Estate

Tax in Monaco

The job market and quality of life are not the only reasons that explain the enthusiasm for the Principality. Indeed, the advantageous tax status which exempts Monegasque residents from income tax in Monaco is a significant advantage. In addition, there is no wealth tax, property tax, housing tax, or inheritance tax.

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what is the area of Monaco | Petrini Exclusive

What is the area of ​​Monaco 

The famous principality of Monaco, located in the heart of the French Côte d'Azur and just a few kilometers from Italy, continues to attract citizens from all over the world thanks to its generous Monaco surface area. Its idyllic living environment, the variety of its economic and cultural infrastructures, as well as its international artistic and sporting influence make it a privileged destination, a land of opportunities. Here is some basic geography information to know about the most iconic Rock in the Mediterranean.

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The Monegasque Real Estate Board

The Monegasque Real Estate Board: Presentation and Services

The Monegasque Real Estate Board is a renowned organization in the real estate sector in Monaco. Founded in 1945 and recognized by the Prince's Government, it brings together the most serious and competent real estate agencies in the Principality. Membership of the Monegasque Real Estate Board is a guarantee of quality and excellence in the sale, rental, management and other real estate activities in Monaco.

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International schools Monaco

Here is the list of international schools in Monaco

Monaco is a beautiful sovereign city-state located on the Côte d'Azur. It is a highly sought-after destination for its luxurious lifestyle, stunning coastline, and favorable tax system, destination for expats due to its status as a tax haven, high-quality healthcare, and high standard of living. In addition to its many attractions, Monaco also offers a range of educational opportunities for families living in Monaco with school-aged children. International schools in Monaco welcome expatriate families and Monegasques seeking a bilingual education for their children.

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Top 10 things to do in Monaco - Petrini

Top 10 things to do in Monaco

Monaco, the epitome of glamour and sophistication, is a captivating one of the best destination that offers an array of attractions and activities to indulge in. From the world-famous Monte Carlo Casino to the exquisite Opera de Monte Carlo, this small city-state on the French Riviera is a treasure trove of experiences. So if you want to travel or you have just moved to Monaco, here are the top 10 things to do in Monaco:

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Port Monaco

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