Living in Monaco: taxation and residency

According to the Monegasque government, Monaco does not have a personal income tax, "with the exception of French nationals governed by the 1963 Franco-Monegasque bilateral convention." There is neither a wealth tax nor a property tax in the principality. Inheritances are taxed at rates that depend on the degree of kinship, for assets located in Monaco. For a French citizen, the absence of a Monegasque income tax does not mean the absence of any tax: see below.

The main Monegasque taxes

This information comes from pages of the Monegasque Government, the most recent of which was updated on August 27, 2026. The corporate income tax rate and VAT rates are not shown on these pages: they can be found at the official source.

The case of French: the 1963 convention

The Monegasque government's statement itself cites the exception. According to Article 7-1 of the Franco-Monegasque Convention of May 18, 1963, as summarized in the BOFiP (Official Bulletin of Public Finances), French nationals who have transferred their domicile or residence to Monaco are subject to French income tax under the same conditions as if they had their domicile or residence in France. The text also applies to individuals who cannot prove five years of habitual residence in Monaco as of October 13, 1962. A French citizen who moves to Monaco therefore remains, in principle, subject to French income tax, with the exceptions listed in the BOFiP (paragraphs 30 to 110).

The absence of wealth tax in Monaco says nothing about the French real estate wealth tax (IFI): according to the French tax authorities (BOFiP) (BOI-INT-CVB-MCO-10, §§ 380 to 390), Article 7-3 of the convention subjects French citizens who transferred their tax residence to Monaco on or after January 1, 1989, to the IFI on all their real estate assets included in the tax base. The text of Article 7 of the convention should be read before applying this rule to your situation. Our page "Leaving France for Monaco" details the rest of this point and its limitations, and our page on the convention presents the text of the article.

Monegasque inheritance rights

The scale published by the Monegasque Government depends on the relationship between the deceased and the heir.

This scale applies to properties located in Monaco. The page does not mention any reductions or exemptions. It is dated July 30, 2026.

For assets not located in Monaco, this scale does not answer the question. The Franco-Monegasque convention of April 1, 1950, on successions stipulates, in Article 2, that real estate and real estate rights forming part of the estate of a national of one of the two states are subject to inheritance tax only in the state where they are located. The remainder of this convention is not presented here: the rule applicable to securities, in particular, is not included.

Residing in Monaco: the residence permit

France Diplomatie indicates that, for French citizens, entry to the Principality does not require a visa for stays of less than three months. For stays exceeding three months, a residence permit is mandatory for all persons aged 16 and over. The Monegasque government outlines four types of residence permits.

The standard card requires 3 years of residence, the privileged card 10 years of residence.

The application should be addressed to the Directorate of Public Security. The published fees date from October 2024, and the list of required documents for an initial application is not included here: these should be verified with the Monegasque administration before any application is submitted.

Certificate of residence for tax purposes

The Monegasque government issues a residence certificate for tax purposes. It requires a valid residence permit and one of the following three conditions: more than 183 days spent in Monaco, principal place of business in Monaco, or the longest stay of the year in Monaco. An exception exists for those who have been residing in Monaco for less than six months. The certificate is valid for one year.

The page describing it makes no mention of France or tax treaties. This document confirms a situation in Monaco. It does not explain how the French tax authorities view your tax residence.

What this page does not cover

• The rate of tax on profits.
• Capital gains taxation.
• The list of documents for a first residence permit application.
• French inheritance tax rules.

These points can be found in the official sources cited below.

Numerical example (fictitious profile)

Situation. A fictitious Monaco resident owns an apartment in Monaco worth €2,000,000. He wonders what the transfer costs would be depending on his relationship to the heir.

Issue. The scale depends on the relationship to the beneficiary, and the official website doesn't mention any discounts. He wants a rough idea of the amount before deciding.

Strategy. It applies the rate of each line of the published scale to the value and compares the cases.

Result. To a child or spouse (0 %): €0. To a brother or sister (8 %): €160,000. To a nephew (10 %): €200,000. To another collateral relative (13 %): €260,000. To a non-relative (16 %): €320,000. The difference between a brother or sister and a non-relative is €160,000. This calculation applies the tax rate to the entire value, without any deductions, as the page does not indicate any: this is not a tax settlement.

What changes depending on your situation

• Your nationality: a French citizen remains in principle governed by the 1963 convention for income tax.
• The location of your assets: the Monegasque scale only applies to assets located in Monaco.
• The link with your heirs: it determines the applicable rate.
• The length of your stay: this determines access to ordinary and privileged cards.
• Your company's activity: the 25 % threshold of turnover generated outside Monaco determines whether it is subject to profit tax.

These points are examined on a case-by-case basis. No result can be announced without this examination.