Residence permit of Monaco

Obtaining temporary residence in a dwarf state involves a long process. The Principality of Monaco cannot accommodate everyone on 2 km2, and issues legalization permits only to foreigners who are able to contribute to the economy. When applications are approved, Permis de sejour is issued, who arrived on Schengen visas, with the possibility of extension twice more for 12 months. After 3 years, the Sarte de resident ordinaire is opened to cosmopolitans for 36 months with a double extension.

After 6 years, foreigners, provided they integrate into society and participate in the life of the country, receive a privileged Carte de resident privilege for a decade. The status allows you to move freely around the Eurozone, keep capital in reliable banks, and have social preferences along with local residents.

After 10 years of residence in the territory, expats can apply for citizenship if they renounce their first citizenship.

Types of residence permit

To receive the cards, the relocators choose a migration program at their discretion and depending on material wealth. The authorities of the Principality of Monaco offer to invest in real estate, business, investments or find a job. Financially independent expats can live on passive income, and children can study at the university. Wealthy foreigners aged 16+ who wish to live on the Cote d'Azur for more than 3 months a year can submit a dossier.

First of all, the relocators apply for long-term D visas at the French diplomatic mission and come to Monaco. During the week, they apply to Service Etrangers for a residence card, submit a dossier and undergo two interviews. They receive statuses within 2-4 months.

Residence permit for the purchase of real estate

The fact of purchasing an object does not guarantee the possibility of quickly obtaining a Carte de resident ordinaire, but it serves as a key factor at the time of making a decision on granting status. Due to the constant increase in prices, the purchase of apartments helps not only to quickly legalize, but also to invest capital prospectively.

Necessary justifications

Access to the residence is being opened:

• in case of purchase of real estate for 500,000 €; 
• extended while maintaining the property; 
• when investing in the economy of 1 million €.

List of documents

The apartment owners are required to collect the dossier according to the list and submit it for consideration. Basic list:

• a copy of the informative sheets of adult passports; 
• metrics of children;
• medical insurance for adult applicants; 
• purchase agreement;
• real estate documents;
• financial balance.

In case of sponsorship, an investment certificate is required.

Additional features

There are no taxes for individuals in the country on profits earned on the territory and abroad, as well as on real estate, inheritance issued by a resident/ citizen.

Student residence permits

This category is opened to students of the only English-speaking university of management and finance in the principality.

Necessary justifications

The requirements are standard:

• certificate of enrollment; 
• copy of the rental agreement;
• proficiency in spoken French; 
• confirmation of the student's ability to pay.

List of documents

The papers need to be translated into French and apostilled. For an immigration file, you need:

• a passport with a long-term visa; 
• a letter from the university administration; 
• a certificate or diploma of an educational institution; 
• a deposit of 2,000 € per month for the period of study; 
• a financial guarantee from the sponsor in the absence of personal savings.

The residence is valid only for the duration of study. To extend it, you need to find a vacancy and get a new status under an agreement with the employer.

Residence permit for financially independent

This method of legalization is chosen by most financially secure foreigners, including freelancers. The law applies not only to the main applicants, but also to minor family members.

Necessary justifications

Cosmopolitans who make a profit can apply for this category:

• 3,000 € per month for an adult and 1,500 € for a dependent abroad; 
• from renting out housing/ commercial real estate at home; 
• interest on deposits (500,000 €) in a local bank;
• cryptocurrencies or information products.

List of documents

The package of papers includes:

• passport with a Schengen visa; 
• certificate of residence; 
• copies of electricity bills; 
• rental receipts in case of hiring; 
• confirmation of no criminal record; 
• bank statement.

Important! 

When opening an account, the bank requests evidence of the legal origin of the capital.

Residence permit by marriage

As in other countries of the world, marriage is a win–win option for obtaining a carte de séjour de conjoint monégasque. It is suitable for people who have joined the family reunification program. It allows you to move to the place of residence of your spouse, live together for a year and get a status for 5 years.

Necessary justifications

Foreigners can apply under the following conditions:

• after registering a union with a resident of Monaco; 
• providing evidence of civil relations, such as the presence of jointly acquired property; 
• having given birth to children in another country and planning to stay in the principality.

List of documents

To open a long-term visa and naturalization, you will need:

• couple's passports; 
• marriage certificate;
• address certificate;
• statement with the amount of the deposit;
• income statement from the resident's job; 
• results of a medical examination of the applicant for the status; 
• proof of non-conviction issued 3 months earlier;
• utility bills and other evidence of cohabitation.

Family reunion

Interested persons can legalize themselves in Monaco and live for a long time on the Cote d'Azur, arriving at the invitation of a relative or spouse.

Necessary justifications

The migration authorities allow residents to invite loved ones if they have sufficient funds to support the guests. This number includes:

• officially registered couples; 
• children under the age of 21 or incapacitated of all ages; 
• dependent relatives of the first and second generations.

List of documents

Applicants are required to:

• personal questionnaires and applications; 
• passports and metrics;
• certificates confirming blood relationship with a resident;
• results of a health examination;
• medical insurance;
• receipts for payment of fees.

Work permit

Temporary legalization can be counted on by specialists who have found vacancies in local and foreign branch companies with salaries covering living expenses, including rent.

Necessary justifications

• compliance of the applicant with the profile of the activity; 
• permission to enroll the relocator in the staff; 
• interview; 
• salary approval; 
• signing of the contract.

List of documents

The main list:

• a contract signed by the Employment Service; 
• confirmation of professional status;
• certificate of housing availability;
• recommendations from former employers;
• certificate of non-conviction;
• medical policy.

Business residence permit + sole proprietor

Resident cards are issued after the establishment of their own company on the basis of a business permit. Since the economy of the principality is booming, applicants need to try to prove the importance of registering a new business.

Necessary justifications

Requirements:

• opening a limited liability company with an authorized capital of 150,000 €; 
• investing 50,000 € in a partnership or an Anonymous company (SAM); 
• renting/ buying an office;
• opening 4 vacancies for residents.

List of documents

When registering a company, the owners pay the state 1 % of the authorized capital and collect a folder.

It contains:

• permission to establish a commercial enterprise/ partnership;
• certificate of ownership;
• business model;
• civil liability insurance;
• medical certificate; 
• address certificate;
• bank's report on the financial balance.

Foreigners are more likely to choose joint-stock companies, partnerships or open branches of foreign companies. If they receive 25 % of the profit in other countries, the tax amount reaches 33 %.

Extension of a residence permit

Making a card takes 5-7 months. Long before the expiration date, the relocators reassemble the documents according to the lists corresponding to the visa categories, submit a General list for extension to Service Etrangers. General list:

• a certificate of absence of offenses from the police; 
• a copy of a valid card; 
• proof of solvency; 
• proof of residence address; 
• a scan of the payment receipt.

The price of obtaining a residence is 90 €, prolongation is 50 €, extension for another 3 years is 100 €. Opening a privileged card for 10 years costs 160 €. According to a separate price list, foreigners pay for translations and notary services up to 500 €.