Tax System in Monaco

A favourable taxation environment for individuals

In 1869 Prince Charles III of Monaco abolished all personal income tax and since then the Principality of Monaco has become a secure and tax friendly environment.

The only direct taxation in the Principality is the corporate income tax for companies generating more than a quarter of its tournover outside Monaco. There is no wealth tax, property tax or council tax and there is also no tax on investment or work income generated outside of Monaco. Monegasque nationals and foreigners living in Monaco do not have to pay income tax, unless they are French nationals.

Importantly, Monaco also remains one of the few places on earth where its Resident population are not required to file tax returns or declarations.

In order to enjoy the high standard of living and the favourable taxation that Monaco has to offer, finding a property might be the first step.

Contact us and let us inspire and guide you.