Applying for Monaco Residency/Citizenship

As an individual over the age of 16, if you wish to reside in Monaco, you must apply for a residence permit. To obtain a residence permit, there are a series of requirements and processes to follow but first, why residency in Monaco? 

Monaco is considered one of the best residences for anyone wishing to reside in a safe European location with high-class leisure facilities, a pleasant climate, and a favorable tax system. 

Monaco residency offers visa-free travel to the 26 Schengen area countries. And its application process is a fast one. 

Additionally, acquiring permanent residency in Monaco enables all the family members of the applicant to live with them. 

Conditions for applying for a Residency in Monaco 

• Proof of accommodation 

To apply for residency in Monaco, all applicants must show proof of accommodation. Proof of accommodation may include acquiring local real estate OR renting an apartment. If it’s renting, the lease must be for a minimum of 1 year and have sufficient bedrooms to accommodate the number of individuals applying. 

• Financial requirement 

Also, all applicants must confirm financial self-sufficiency to live in Monaco. Financial self-sufficiency may be asserted by depositing a minimum amount imposed by the Monaco government for a residency application into a local bank account in the applicant’s name. The minimum required amount is EUR 500,000. 

• Monaco residency security check 

To meet the Monaco residency program requirements, an applicant must have a clean criminal record and must be at least 16 years old. The applicant must provide a police certificate as proof of clean criminal record in the country or countries where they have lived during the previous five years, and this certificate should not be more than three months old at the time of application for the residency. 

Monaco residency document requirements 

Additionally, documents such as a valid passport, birth certificate, and police record, must be submitted by the applicant when applying for residency in Monaco. The police record provided should be from each of the countries where the applicant has resided during the past 5 years. 

How to apply for Monaco residency 

To complete the Monaco residency process, the steps involved include the following: 

• Drafting of the residency permit application and gathering of required documents: applicants must gather all the required documents and submit the required application forms for acquiring residency in Monaco. 
• Interview: after submitting the application, within a period of 5 weeks, the applicant will be invited for an official interview that will be conducted in Monaco. 
• Approval: upon the completion of the interview, the application submitted by the applicant will be processed and approved. 

After the application has been authorized, the applicant will be able to receive his/her residency card. 

The requirements for applying for Monaco residency are relatively straightforward as long as the applicant can provide all of the required documents. This process can be finalized within 8 weeks for EU citizens, but for non-EU citizens, it can be around 16-20 weeks. 

Monaco residency rules 

The first Monaco residency card, which is called the “Carte de resident temporaire” has a validity of one year and is renewable annually for up to 3 years. 

After three years, the applicant will then receive the “Carte de Resident Ordinaire”, which has a validity of three years and must be renewed every three years. 

And finally, after 10 years of residency, the applicant can then apply for a permanent residency, “Carte de Privilege”, which is granted at the discretion of the Monaco authorities. 

With its stable climate and convenient geographical position Monaco is considered an attractive place for residence. To get started with your residency application in Monaco, let’s go ahead and contact your Damalion expert now.  

Applying for Monaco Residency and Citizenship in 2025 – clear requirements, documents, residence permits, timelines, and practical onboarding notes.

For individuals, entrepreneurs, family offices, holding companies and international groups • We help you present a complete, consistent file so banks and authorities can review efficiently. Final decisions remain with the bank and the Monégasque authorities.

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Who needs a residence permit?

Anyone aged 16 or over who wishes to live in Monaco for more than three months per year must apply for a residence permit. This also applies if you set up home in Monaco.

Core requirements at a glance

Accommodation

Own or rent suitable housing in Monaco. A rental contract is usually for at least 12 months and must match the family size.

Financial means

Show sufficient resources for you and your family. Most banks issue a letter after a substantial deposit. Many banks expect about EUR 500,000 or more. Bank policies differ.

Good conduct

Provide recent police certificates from countries of residence over the last five years. Documents must be current at filing.

Valid ID

Passport, birth certificate, and civil status documents where relevant. Bring originals and certified copies when asked.

Documents checklist

• Passport and recent passport-size photos.
• Birth certificate and, if applicable, marriage or divorce certificate.
• Proof of accommodation in Monaco (title deed or lease and utility proof).
• Evidence of financial means (bank letter and/or income statements).
• Police certificates from countries of residence over the past five years.
• Health insurance proof valid in Monaco.
• For dependants: relationship proofs and schooling arrangements when relevant.
• Translations or legalisations/apostilles if the authority requests them.

Note: the authority may ask for additional documents depending on your situation.

Residence permits — types and renewals

Permit	Validity	Renewal	Notes
Temporary Resident Card	1 year	Renewable annually, generally up to 3 years	Usual first card after approval.
Ordinary Resident Card	3 years	Renewable every 3 years	Granted after several temporary renewals.
Privilege Resident Card	10 years	Renewable	Discretionary. Strong ties and stable residence help.

Opening a bank relationship

Monaco banks assess each client. A relationship usually starts with due diligence and an initial deposit. Many banks request deposits around EUR 500,000 or higher before issuing the letter that confirms financial means. Levels differ by bank, client risk, and services used.

How the process usually unfolds

1. Confirm accommodation in Monaco.
2. Open a bank relationship and request a financial means letter.
3. Gather civil status, identity, and police documents.
4. Submit the residence application and attend the interview when scheduled.
5. Collect the residence card and complete local registrations as instructed.

Timing and costs

• Preparation depends on document availability and banking onboarding.
• Processing is often a few weeks to a few months after complete submission.
• Expect fees for documents, translations, legalisations, and residence card issuance.
• Bank account and custody services are billed under the bank’s tariff.

Citizenship basics

Citizenship is distinct from residency. Naturalisation is discretionary. A long, continuous residence period and strong integration are expected. Applicants usually need to renounce previous nationalities if naturalised, subject to legal exceptions. There is no “citizenship-by-investment” in Monaco.

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Frequently asked questions

1) Who must apply for a Monaco residence permit?

Any person aged 16 or over who plans to live in Monaco for more than three months per year or to set up home in Monaco must apply for a residence permit.

2) Is accommodation in Monaco mandatory?

Yes. You must show a Monaco address. Ownership or a compliant lease is acceptable. The housing must suit the household size.

3) What financial evidence do authorities and banks expect?

You must show adequate resources to live in Monaco. Many banks provide a letter after a substantial deposit. Market practice is often around EUR 500,000 or more, subject to each bank’s policy.

4) Are police certificates required?

Yes. Provide recent police certificates from the countries where you have lived during the last five years. Each certificate must be current when filed.

5) Do I need health insurance?

Yes. You must maintain valid health insurance that covers you in Monaco.

6) How long does processing take?

Processing starts when the file is complete. Timelines vary. In many cases it is a few weeks to a few months, depending on your profile and follow-ups.

7) Can I apply if I work remotely for a foreign company?

Yes, if you meet the residence conditions. Verify tax and social security implications separately. Monaco will still assess housing, means, and good conduct.

8) Can family members join?

Spouses and dependants may apply with you if housing and means are adequate. Provide relationship proofs and schooling details where relevant.

9) Are translations or apostilles required?

They may be required if documents are not in French or another accepted language. The authority will specify when legalisation or apostille is needed.

10) What are the main resident cards?

Temporary Resident Card (1 year, renewable), Ordinary Resident Card (3 years, renewable), and Privilege Resident Card (10 years, renewable, discretionary).

11) Do I need to be physically present in Monaco?

Yes. Residence implies living in Monaco. Physical presence expectations increase with longer-term cards. Absences can affect renewals.

12) Does Monaco have a “golden visa” or citizenship by investment?

No. There is no citizenship by investment. Residence depends on accommodation, financial means, and suitability. Naturalisation is discretionary and separate.

13) How does banking onboarding interact with my case?

Banks run their own compliance. A bank letter often forms part of the residence file. Deposit sizes and documentation depend on the bank’s risk policy.

14) Are there minimum stay rules for tax?

Monaco has its own legal and tax framework. Your personal tax position depends on your ties and any foreign tax residence rules. Obtain independent tax advice.

15) Can the authority refuse without detailed reasons?

Yes. Decisions follow applicable laws and policies. You may submit a stronger, clearer file or consider a later application.

16) What happens at the interview?

Officials verify your situation, documents, accommodation, resources, and intended lifestyle in Monaco. Bring originals and answer questions clearly.

17) What if I change address after approval?

Notify the authority and provide updated housing documents. Keep your file consistent and current for renewals.

18) How do renewals work?

Renew before expiry. Show continued accommodation, resources, insurance, and good conduct. Missing proof can delay or affect renewal.

19) What are the citizenship by naturalisation basics?

A long period of residence, strong integration, and good conduct are typical. Naturalisation is a sovereign, discretionary act. Renunciation of prior nationalities is generally required on naturalisation, subject to legal exceptions.

20) Where can I find official guidance?

The Government of Monaco publishes residency procedures and updates. Always check current forms and instructions before you file.

 

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