In brief
Monaco is a sovereign state of 208 hectares and 38,857 residents, outside the European Union, with its own property law, duties and residence rules. Foreigners buy through a Monaco notaire; the transfer duty on a purchase by an individual is 4.75%. Residents pay no personal income tax, except French nationals. There is no wealth tax or annual property tax. Living there requires a residence permit, for which you must show a home in Monaco and sufficient resources. This page is general information, not legal or tax advice; take advice from a Monaco notaire, lawyer or tax adviser before you commit.
Becoming a resident
Anyone aged 16 or over who settles in Monaco or stays there for more than three months a year must hold a residence card. Applications go to the Section des Résidents of the Direction de la Sûreté Publique, 9 rue Suffren-Reymond.
| Card | When it applies | Valid for |
|---|---|---|
| Temporary | First card; no minimum period of residence | 1 year |
| Ordinary | After three years of residence | 3 years |
| Privileged | After ten years of residence, reduced in special cases | 10 years |
The applicant must show:
- A home in Monaco large enough for the household, owned (directly or through a company), rented under a registered lease or shared with a close relative or partner. Owners provide the notarised deed; tenants the registered lease.
- Sufficient resources, from salary, business income, savings or family support. Applicants without employment, a business or a pension provide a bank reference from a Monaco bank, less than one month old.
- A criminal record extract less than three months old from each country of residence in the previous five years.
- A valid passport and a birth certificate less than three months old.
- For nationals of countries outside the European Economic Area, including the United Kingdom since 2021, a French long-stay visa. EEA nationals do not need one.
The government's pages state no minimum deposit. The amount judged sufficient depends on the Monaco bank that gives the reference, so open the banking relationship early. Expect thorough checks on the source of funds; Monaco was placed on the FATF list of jurisdictions under increased monitoring in June 2024. In June 2026 the FATF found, provisionally, that Monaco had largely completed its action plan, with an on-site visit still to be scheduled.
Tax for residents
| Tax | Position for Monaco residents |
|---|---|
| Income tax | None for residents, except French nationals, who remain taxable under the 1963 Franco-Monegasque convention |
| Wealth tax | None |
| Annual property tax or council tax | None |
| VAT | Charged on the same basis and at the same rate as in France |
| Inheritance and gift duty | 0% between parents, children and spouses; 8% between siblings; 10% for uncles, aunts, nephews and nieces; 13% for other relatives; 16% for unrelated persons. It applies only to property situated in Monaco |
Your tax position in your home country and the effective date of any move are matters for a tax adviser in both countries.
Buying property
The duty on a purchase
Monaco charges registration duty on the deed instead of the French notary's transfer duties. Since 1 October 2023 the rates in the law are:
| Buyer | Rate |
|---|---|
| An individual or a Monaco société civile whose partners are all individuals acting for themselves | 4.75% |
| Other buyers | 7.5% |
| A company whose beneficial owners are not individuals acting for themselves or not disclosed through an approved agent | 10% |
| A sale subject to VAT, such as a new build bought from the developer | 1%, with VAT on the price |
The government's summary page still shows the earlier 4.5% rate; the law as amended in 2023 sets 4.75%. Your notaire confirms the rate and the notary's own fees before you sign.
Buying through a company
Many buyers hold Monaco property through a société civile. It must be registered within two months of its incorporation and must keep and file accurate information on its beneficial owners, with a person resident in Monaco responsible for it. A change in the beneficial owner of a property-holding entity is itself charged at 4.75%.
The steps
- Agree the price and terms with the seller, through the agent.
- Instruct a Monaco notaire. Expect the notaire and your bank to ask for evidence of identity and of the source of the funds.
- Sign the deed before the notaire; the deed is registered and the duty paid.
- Use the notarised deed as proof of accommodation in your residence application.
How the Monaco market differs
France's DVF database of property sales does not cover Monaco, so the price per m² figures we publish for French towns do not exist for the Principality. Monaco's statistics office, IMSEE, publishes an annual Observatoire de l'immobilier instead.
| IMSEE, year 2025 | Figure |
|---|---|
| All transactions | 493, worth €5.9 billion |
| Resales | 429, worth €3.2 billion |
| New-build sales | 64, worth €2.6 billion |
| Average resale price | €7.6 million |
Older buildings completed before 1 September 1947 form a protected rental sector reserved by priority for Monegasques and certain long-standing residents, with controlled rents. In the free sector, leases must be registered within three months, with a duty of 1% of the annual rent and charges.
The French communes along the border, where DVF data do exist, are covered in our guides to Cap-d'Ail and Roquebrune-Cap-Martin, Beaulieu-sur-Mer and Èze and Menton. The Monaco area page describes the districts.
Practical points
| Topic | Detail |
|---|---|
| Nice airport | 22 km and about 25 minutes by motorway; about 7 minutes by helicopter, with flights every 20 minutes |
| Schools | Schooling is compulsory from 6 to 16; state school places are allocated by area of residence. International and British schools are listed in our schools guide |
| Health insurance | Employees are covered by the CCSS, financed by employer contributions; the self-employed must join the CAMTI |
| Population | 38,857 residents in 2025; the largest groups after Monegasques are French, Italian, British and Swiss |
Frequently asked questions
Can a foreigner buy property in Monaco?
Yes. The sale is made before a Monaco notaire; the buyer pays registration duty of 4.75% as an individual or 7.5% through most companies.
Do I have to buy to become a resident?
No. A registered lease on a home in Monaco is accepted as proof of accommodation, as is ownership.
Is there a minimum bank deposit for residence?
The government sets no figure. Applicants without employment, a business or a pension need a reference from a Monaco bank. Each bank decides what it regards as sufficient.
Do Monaco residents pay income tax?
Not on personal income, with one exception: French nationals remain taxable in France under the 1963 convention between the two states.
Why are there no DVF figures for Monaco?
DVF is a French public database of property sales in France. Monaco is a separate state, so its sales are recorded by its own statistics office, IMSEE.
How far is Monaco from Nice airport?
The Monaco government gives 22 km, about 25 minutes by motorway and about 7 minutes by helicopter.
Last updated: 11 October 2026