Can you get residency in Monaco?

Obtaining residency in Monaco is indeed possible, although it can be a complex process with certain requirements to fulfill before being granted residency.

One of the main prerequisites for residency in Monaco is having sufficient financial resources to support yourself and any dependents. As we mentioned in the previous article, applicants are expected to deposit a minimum of €500,000 in a bank account as part of the residency application. Moreover, it is essential to have the means to sustain your lifestyle and provide for your dependents, whether through employment, starting a business, or other viable sources.

Apart from the financial aspect, there are additional criteria that must be met to obtain residency in Monaco. These include providing evidence of accommodation, which can be demonstrated through a lease agreement or proof of property purchase.

Monaco holds stringent requirements to ensure that those seeking residency are of good character and possess the financial capabilities to support themselves, as well as contribute to the economic development of the country.

Many individuals from around the world aspire to obtain residency in Monaco due to its high standard of living, advantageous tax system, and breathtaking Mediterranean location. Whether you're seeking a change of scenery, a favorable business environment, or simply a luxurious lifestyle, Monaco might be the perfect destination for you.