Please note: Anyone over 16 years of age wishing to reside in Monaco for more than 3 months a year must apply for a residence card. To do so, you must provide a certificate of accommodation, be able to guarantee sufficient resources and prove your good character. Rosemont International can assist you in this process. Please contact your local office for more information or ask for our brochure "Residence in Monaco - Let us hold your hand".
Discover our video: Buying a property in Monaco
Step one: Offer and negotiation
Once you have found the right property, you can make an offer and/or negotiate the price. The offer must be in writing, detailed and accompanied by a deposit (usually a bank cheque representing 10% of the sale price).Once accepted, the offer is legally binding on both parties: if the buyer withdraws, the deposit cheque will be retained by the seller, and in some circumstances even greater compensation may be claimed. If the seller defaults, the seller will be obliged to pay compensation for the same amount, or even to complete the sale if it is possible.
Optional second stage: The preliminary sales agreement
As in France, the signing of the preliminary sales agreement is optional in Monaco, although it is strongly recommended in the case of special conditions.Third step: The deed of sale
Finally, if the conditions set out in the preliminary sales agreement are met and the State has not exercised its right of pre-emption within 30 days of the signing of the agreement (for any property built before 1947), you may proceed to sign the deed of sale.Note: in France and Monaco, a right of pre-emption exists for the benefit of the public authorities, which allows them to purchase the property in place of the buyer in the public interest.
The sale must be signed before a notary who will confirm the content of the sale and the agreement between the parties.
Notary cost and agency fees in Monaco
In Monaco, the acquisition cost collected by the notary is 6% of the value of the property comprised as follow:Stamp duty on purchase a property in Monaco:
4.75% of the value for an existing property (or 2.5% for a new build property or a property in a state of future completion
This is increased if you wish to purchase via a ‘non-transparent’ entity
Notary fees:
1.5% will also be charged when purchasing.
All estate agents fees are set by the Monegasque Chamber of Real Estate:
- 3%+VAT when buying.
- 5%+VAT when selling.
If you also put in place a mortgage when buying there will be registration fees based on 1% of the mortgage value
Residence card in Monaco
A residence permit (formerly a resident permit) is required for any person aged 16 or over staying in Monaco for more than 3 months. For more information, visit our dedicated page: Monaco Residence CardRosemont International can assist you with the purchase of your property in Monaco. Contact your local office for more information.