Citizenship of Monaco

Monaco attracts the attention of the relocators with its security and stability. The citizenship of this country, in turn, opens the door to a luxurious life on the Cote d'Azur. Nevertheless, the process of obtaining it requires patience and effort. The most common way is naturalization. For entrepreneurs, status becomes an important step for starting a new business.

Tax advantages and access to international markets make the principality attractive for startups and large companies. For young families who are looking for a safe place to raise their children, Monaco will be an ideal option. A high level of education, developed infrastructure and high-quality medicine create favorable living conditions.

At the moment, Monaco does not offer special programs that would differ significantly from standard processes. However, in recent years there has been interest in improving conditions for foreign investors. The government provides various incentives to businessmen. However, specific residency programs in exchange for investments have not yet been implemented.

Ways to obtain citizenship

All issues are regulated by a special law, which is published on the official website of the government. There are several methods that allow applicants to choose the most optimal one.

By birth

The Principality has the principle of the right of blood (Jus sanguinis), according to which the children of Monegasque men automatically acquire status without any restrictions. However, there are conditions for mothers, in particular, the need to have citizenship at the time of the baby's birth and the presence of Monegasque ancestors.

Important! 

The right to citizenship by birth applies to both biological and adopted children. Also, an infant born in the territory and without established parents can claim the status.

Through marriage

In this case, it is required to be in a legal union for a specific period of time. In the event of the death of a Monegasque spouse, the widower or widow retains the right, provided that he has not remarried.

The length of residence of a foreign spouse in the country depends on his gender. Men who have married Monegasques must stay here for at least 10 years, while for women who have married local residents, the terms have been reduced to 5 years. At the same time, it is not necessary to renounce previous citizenship.

By naturalization

For those who do not have the right to receive an automatic passport, there is a possibility of naturalization. The process requires considerable effort and compliance with certain conditions. Persons over the age of 18 who have been living in this dwarf state for 10 years have the right to apply.

One of the key criteria for satisfying an application is exemption from military service obligations in the country of origin. It is important to note that having a political status or a high social reputation facilitates the process. However, citizens of countries belonging to the European Union receive status faster than others.

The advantages of Monaco citizenship

Acquiring a status is not only the right to comfortable living, but also business opportunities.

Other important advantages also include:

• free access to the countries of the Schengen area, as well as to the UK, USA, Japan, Singapore, etc.;
• comfortable life in a safe country with a temperate climate. Summer is not too hot, winter temperatures average +15 °C; 
• the crime rate here is one of the lowest; 
• the absence of income and property taxes, which makes doing business especially profitable; 
• stable real estate market;
• absolute security; 
• protection from economic instability; 
• access to free healthcare and European education.

Dual citizenship

Upon receiving a passport, you will have to renounce your first citizenship. The second is provided only to the spouses of indigenous people. This is stated in Law No. 1.155.

Citizenship by Investment Program

The legislation does not provide for registration of the status through investments, but it can be purchased after 10 years of residence with a residence permit. At the same time, the applicant must demonstrate his financial viability, the availability of real estate and reliability.

In Monaco, there are no strict investment requirements for participation, so the relocator chooses on his own whether to rent or buy a house or apartment, open an account with one of the local banks or confirm his solvency in another way.

Features of investing:

• Minimum investments from 1,000,000 € (500,000 in the form of a bank deposit and the same amount invested in real estate). 
• Funds should be kept in the account permanently, and half of the amount should be deposited immediately after obtaining a residence permit. 
• You will need to confirm income received outside the state in the amount of 3,000 € per adult and 1,500 € separately for a dependent. 

Please note! 

The applicant for a Monaco passport must have a clean criminal history in the two previous countries in which he has lived for the past five years.

Recent reforms of the citizenship program

In 2022, a law came into force according to which 20 years of marriage are required to obtain the status, whereas previously this period was 10 years. The new rules apply only to those couples who registered their relationship after July 1, 2022. Experts note that the changes in legislation are aimed at protecting the cultural identity of the national minority. According to the data of 2021, the national community numbered 9,573 people. The forecasts of the Institute of Statistics (IMSEE) indicate that in 50 years the population of the Principality will increase by 62 %.

It should also be borne in mind that from 2024, continuous residence on the territory for 10 years will be required. The relocators must demonstrate not only excellent knowledge of French, but also a good reputation.

Step-by-step process

This procedure consists of the following steps:

In the case of naturalization of adults, their children are registered as part of the general application.

If only one parent receives citizenship, the notarized consent of the second parent will be required to include dependents in the application. 

Collecting documents and submitting an application

It is necessary to demonstrate your worthiness. This includes the availability of housing in the country and sufficient funds. In addition, the candidate must respect traditions and customs and show loyalty to them.

There is also a more direct way. The Prince of Monaco can award citizenship for special merits. Such cases are not uncommon – about ten such cases are recorded annually. World fame and impeccable reputation in elite circles facilitate the process, as well as personal connections with the entourage of His Serene Highness Albert II. It is much easier for outstanding artists, musicians, scientists, athletes and racers to obtain citizenship.

List of documents

You will need to prepare:

• a valid identity card (passport); 
• a statement of non-conviction from all states where the applicant has lived for more than 6 months;
• confirmation of the source of income or savings sufficient for the whole family; 
• residence permit; 
• documentary evidence of renunciation of previous status; 
• birth and marriage certificates, if relevant; 
• evidence of connection with the Principality and integration into society (ownership of a house, registered business, membership in social clubs, etc.).  

All papers are translated into French and submitted personally to the palace. Certificates issued by state authorities of other countries are subject to apostille. The cost of the certificate is 0,5 €. It is worth taking into account a number of additional costs for legal services, registration of a residence permit, translation, etc.

Consideration and decision

The terms range from 2 to 8 months. From the moment of signing the relevant decree, the person becomes a citizen. The document confirming the decision is officially published. The certificate is available for request via the Internet on the portal of public services or is issued by the civil registration authorities.

Disadvantages of Monaco citizenship

This status, despite its attractiveness, has a number of disadvantages, which it is advisable to familiarize yourself with in advance. Among the main disadvantages are:

• for a residence permit, you will need to deposit at least 500,000 € into a bank account, which cannot be used (the account is of paramount importance and is required for concluding lease agreements, employment, etc.); 
• lack of direct access to financial transactions – clients must act through a personal bank manager who controls the account (such a system can slow down operations, since transactions are carried out with a delay of up to one week or longer); 
• the naturalization process takes a long time and requires the provision of an extensive set of documents (sometimes the procedure stretches for several years); 
• the need to renounce any other citizenship; 
• lack of a program, which allows you to acquire status for investments in the local economy.

The country has a high cost of living – housing prices range from 50,000 to 100,000 € per 1 m2, and the minimum rental price starts from 2,500 € per month, an advance payment for the whole year is required, in addition, a deposit must be made for three months and a significant amount must be paid as a commission to the agent (without proof of employment or business ownership rent is not possible).