Moving to Monaco - Different administrative procedures
If you are planning to buy or have bought a property in the Principality of Monaco, there are a number of steps you need to take to ensure that your move goes smoothly.
Rosemont International can assist you in these steps, for more information, ask for our brochure "Residence in Monaco - Let us hold your hand" or contact consulting@rosemont.mc
Insurance in Monaco:
As in neighbouring France, certain insurance policies are mandatory in Monaco, such as vehicle and property insurance.
Opening a bank account in Monaco:
The law obliges banks to check the identity of people and to know their financial situation and their motivation for opening an account in the Principality. A residence card or a valid identity document is not sufficient. Rosemont can assist you with the account opening procedures, and explain how to complete the many forms that are required.
Energy contract in Monaco :
You must take out a contract with SMEG, Société Monégasque d'Electricité et du Gaz. You can choose between several power levels or tariff options. To take out a contract, you will need an identity document, a bank statement and a document proving your address.
Telecommunication in Monaco:
Monaco Telecom is able to set up your fixed telephone line. They also offer internet solutions and mobile packages. The same documents as those requested by SMEG will be required.
Driver's licence in Monaco:
Anyone with a foreign driver's licence who moves to Monaco must apply for a Monegasque driver's licence within a year of moving to Monaco. This is a simple exchange of documents. It should be noted, however, that after this one-year period, the foreign licence will no longer be valid and the holder will lose his right to drive in the Principality.
Schooling in Monaco:
Education is compulsory from the age of 6 to 16 in the Principality.