Considerations when becoming Monaco Resident

As Monaco residents you have the luxury of enjoying: cosmopolitain and safe living, a sustainable economic environment, a strong financial center, a high quality education system, a favorable tax system and internationally recognised center for healthcare.

BUT, you must also realise that now you are living in a country which has a different legal system to the one of your home nationality or of your previous place of residence. A place of residence in Monaco will affect issues related to the ownership of assets in other jurisdictions.


Rosemont can advise a new Monaco resident  on the often unexpected consequences of the changes to their personal situation, and can assist in structuring your personal and corporate affairs in the most optimal manner.


Major issues to consider

Estate Planning and Inheritance issues:
  • Advice on inheritance issues, covering Monaco and non-Monaco assets, including review of validity of existing wills and their applicability in Monaco;
  • Validity of your matrimonial regime;
  • Impact of conflict of jurisdictions;
  • Rules applicable for judicial competence;
  • European legislation regarding inheritance and choice of laws.

Legal issues:
  •  Purchase of secondary residence in France or elsewhere;
  •  Dealing with disability and incapacity, lasting powers of attorney, and guardianship;
  •  Civil Partnerships, LGBT issues
  •  Minors, adoption.

Tax issues:
  •  Issues linked to withholding tax when receiving dividends; royalties; interest and fees

Day to day issues:
  •  School inscription, club membership …
  •  Residence renewal
  •  Driving licence
  •  Employing staff

Advisory on creation of new Business activity:
  •  Choice and set up of the corporate structure
  •  Assistance to open bank account
  •  Social security regime

CRS:
  •  Common Reporting Standard (CRS) questions and substance for Monaco tax residency
     
Our aim
To make sure that such a major change in your life will be done in the smoothest and most enjoyable way as possible
 

Our team & skills
  • Tax, legal and financial advisors
  •  Experienced experts in immigration issues
  •  Strong expertise in international tax and estate planning
  •  A multi-disciplinary, multi-cultural team

Please contact us for assistance at consulting@rosemont.mc