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Monaco at a glance
Monaco is outside the European Union. Its companies follow the jurisdiction's own incorporation rules. Compare company types, capital, tax, timing and signing requirements before you choose. The proposed 28th Regime (EU Inc) is a separate option that is not available yet.
Company types in Monaco
- SARL (Societe a Responsabilite Limitee) A private limited company for commercial activity with two or more members. Minimum capital is EUR 15,000. A single-member structure is called a SURL; its minimum is EUR 8,000 when the sole member is a natural person. One or more individual managers run the company.
- SURL (Societe Unipersonnelle a Responsabilite Limitee) The single-member limited-liability form introduced in April 2025. Minimum capital is EUR 8,000 when the sole member is a natural person; the EUR 15,000 minimum applies otherwise. Authorisation and local registration requirements still apply.
- SAM (Societe Anonyme Monegasque) A joint-stock / public company for larger or regulated ventures. Minimum capital EUR 150,000, governed by a board.
Company formation in Monaco: key facts (last reviewed July 2026)
- Corporate tax
- The standard business-profit tax (ISB) rate is 25%. It applies to industrial or commercial businesses with at least 25% of turnover from operations outside Monaco, including the exact 25% boundary. It also covers companies whose activity in Monaco consists of receiving income from patents, trademarks, manufacturing processes or formulas, or literary and artistic property rights. Mostly local turnover therefore does not by itself establish exemption. Statutory exclusions and qualifying new-business relief require a separate eligibility check. There is generally no personal income tax, subject to the rules for French nationals.
- VAT rate
- Standard VAT (TVA) is 20%, with reduced rates of 10%, 5.5% and 2.1%. Monaco applies the French VAT system directly and is part of the EU VAT territory through France.
- Dividends & payroll taxes
- Monaco levies no personal income tax on residents (French nationals excepted) and no local tax on dividends. The trade-off is employer social contributions in the thirties as a share of salary, and any ISB liability under the foreign-turnover or specified intellectual-property income tests. The standard ISB rate is 25%; local turnover alone does not establish exemption.
- Minimum share capital
- SARL minimum capital is EUR 15,000, or EUR 8,000 when a SURL has one natural-person member. All shares must be subscribed. In-kind contributions must be fully paid at formation; cash contributions must be paid at least up to the applicable minimum. Capital payments go to an account with a credit institution established in Monaco, with evidence for RCI registration. Any remaining subscribed capital must be paid within 18 months for companies registered under the April 2025 rules. SAM minimum capital is EUR 150,000.
- Setup time
- In practice about 2 to 6 months, because non-residents first need a sovereign business authorisation (a Minister of State decree) before the registry filing (about 2 weeks to a month) can complete.
- Remote setup
- Monaco requires local premises and the applicable authorisation, constitution and registration steps. Articles are not universally required to be notarised: the 2025 law permits a SAM to be formed by private deed or notarial deed. Confirm the form required for a SARL or SURL and for any particular contribution or transaction with a local adviser. Capital for SARL/SURL formation is paid through a Monaco credit institution; banking identity checks are separate and can require attendance. Do not assume an end-to-end online or travel-free route.
- Director / residency
- No nationality requirement, but a non-resident manager's appointment must be authorised by the government, and in practice at least one manager is expected to reside in or near Monaco, with effective management actually in Monaco for tax substance.
- Banking options
- A Monegasque corporate account is mandatory (capital deposited before registration). Monaco hosts many private banks (CFM Indosuez, BNP Paribas, Societe Generale Private Banking); account opening is selective, compliance-heavy and usually the slowest step.
- Our formation service
- from around €100 to €200 (estimated). You get a fixed quote in your free plan before you commit.
Monaco is a sovereign microstate on the French Riviera, NOT an EU member, but inside the EU customs and VAT area through France, and it uses the euro. Famous for no personal income tax (except French nationals), it does levy corporate tax on internationally focused businesses and is no longer classed as a tax haven.
How to register a company in Monaco
Step by step, this is how a Monaco formation actually runs:
- Prepare the business case. Monaco vets every new business; the application explains the activity, premises and financing.
- Secure premises. A physical Monaco office or approved business centre address is required before approval.
- Government authorisation. The sovereign authorisation typically takes 2 to 4 months; nothing files without it.
- Prepare the articles and deposit capital. Choose the SARL or SURL form and prepare the constitution documents. Cash contributions must be paid at least up to the applicable minimum, EUR 15,000 or EUR 8,000 for a SURL with one natural-person member, into an account with a Monaco credit institution before RCI registration. Confirm the document form and any notarial requirements for the transaction.
- RCI registration. The company enters the trade and industry register and can then operate.
We can help coordinate documents, address requirements and filings with licensed local counsel. The steps and timing depend on your company and circumstances.
What company formation in Monaco costs
Budget several thousand euros for the authorisation process, notary and registration combined, plus Monaco-level office costs, which dwarf the filing fees. Professional guidance is effectively mandatory. Accounting and administration for a small SARL commonly run EUR 3,000 to 6,000 a year.
Plan your Monaco company formation
Tell us where you live and what you are building. Our formation service fee is from around €100 to €200 (estimated). We help you compare structures and prepare a quote with the scope, costs and expected timing. Government charges, capital and ongoing services are separate unless included in that quote.
Get your free planWho can form a company in Monaco
Check ownership eligibility separately from director, local-address and licensing requirements. Permission to own shares does not automatically give you permission to live or work in Monaco. The director and residency information above identifies the main formation conditions to review.
Monaco fits wealth-linked businesses, family offices and founders resident in the Principality who monetise its network and no-personal-income-tax environment. It is intentionally exclusive: slow to enter, expensive to run, and unsuitable as a remote convenience vehicle.
After registration: what Monaco expects each year
Prepare annual accounts and determine the applicable ISB filing duties. The 25% standard rate applies to in-scope industrial or commercial businesses at 25% or more foreign turnover and to specified intellectual-property income activities, subject to statutory exclusions and any qualifying relief. VAT follows the French system. Keep premises and required administrative arrangements current, and confirm the duties for the chosen SARL, SURL or SAM form.
Plan beyond the registration fee
Use these guides alongside the national rules for your company. The cost and filing examples cover Estonia, Ireland and Portugal.
Monaco and the 28th Regime (EU Inc)
EU Inc, the proposed 28th Regime, would add a harmonised company form in EU member states. Registration is not open and no launch date is confirmed. Monaco is outside the EU, so forming a company there does not make it an EU company or guarantee access to the proposed regime. Read how to prepare an EU Inc company, or compare current options in company formation in Europe.
Sources and review scope
Use the linked registries, authorities and specialist references to check the requirements for your company. A review of formation costs and filings does not replace a review of your tax position.
Topics checked
These dates apply to the named topics. Other figures and indicative service prices have separate review needs.
- SARL and SURL membership, capital and constitution requirements Checked . Source 1; Source 2
- ISB foreign-turnover boundary and intellectual-property activities Checked . Source 1
Reference links
- taxsummaries.pwc.com/monaco/corporate/taxes-on-corporate-income
- en.gouv.mc/Policy-Practice/Economy-Finance-and-Industry
- journaldemonaco.gouv.mc/Journaux/2025/Journal-8743/Loi-n-1.573-du-8-avril-2025-relative-a-la-modernisation-du-droit-des-societes
- legimonaco.mc/tnc/ordonnance/1964/03-19-3.152
- legimonaco.mc/code/code-commerce
Frequently asked questions
Can a foreigner open a company in Monaco?
No nationality requirement, but a non-resident manager's appointment must be authorised by the government, and in practice at least one manager is expected to reside in or near Monaco, with effective management actually in Monaco for tax substance.
How long does company formation in Monaco take?
In practice about 2 to 6 months, because non-residents first need a sovereign business authorisation (a Minister of State decree) before the registry filing (about 2 weeks to a month) can complete.
What corporate tax does a company in Monaco pay?
The headline summary is 25% where ISB applies, with standard VAT of 20%. Company form, activity, size and where the business operates can change the treatment. Read the detailed tax information and confirm the rules for your case.
Can I form a company in Monaco remotely?
Monaco requires local premises and the applicable authorisation, constitution and registration steps. Articles are not universally required to be notarised: the 2025 law permits a SAM to be formed by private deed or notarial deed. Confirm the form required for a SARL or SURL and for any particular contribution or transaction with a local adviser. Capital for SARL/SURL formation is paid through a Monaco credit institution; banking identity checks are separate and can require attendance. Do not assume an end-to-end online or travel-free route.
What does it cost to form a company in Monaco?
Budget several thousand euros for the authorisation process, notary and registration combined, plus Monaco-level office costs, which dwarf the filing fees. Our formation service fee is from around €100 to €200 (estimated). Government charges, capital and ongoing services must be budgeted separately unless the written quote includes them.