Moving to Monaco: tax, residence and real costs (2026)
Monaco: 0% on foreign income · 0% on local income (French citizens excepted). The cheapest route to residence is residence card: a lease in Monaco and a Monaco bank deposit (no legal minimum; banks expect ~EUR 500k): USD 540k that stays yours (deposit, investment or funds shown) plus about USD 3,000 in fees, in about 3 months. Living costs about USD 7,500 a month for one person in Monaco City, USD 4,950 in Monte Carlo, and around USD 4,700 on a bare-minimum budget.
Key facts
| Tax in one line | 0% on foreign income · 0% on local income (French citizens excepted) |
| Foreign income | not taxed |
| Gains · dividends | 0 · 0 |
| Wealth · inheritance tax | none · 0% direct line and spouses; up to 16% others |
| Cheapest residence | residence card: a lease in Monaco and a Monaco bank deposit (no legal minimum; banks expect ~EUR 500k) |
| Money needed | USD 540k that stays yours (deposit, investment or funds shown) plus about USD 3,000 in fees |
| Time | about 3 months |
| Doable yourself? | Mostly; a local fixer for one step helps |
| Days you must spend there | live there (main home; ~3 months a year as a practical minimum) |
| Citizenship | rare (10+ years, discretionary) |
| Online business | 0% effective, about USD 5,000 a year to run: trading from Monaco needs a government authorisation; most residents keep their company elsewhere |
| Living (one person a month) | Monaco City ~USD 7,500; bare minimum ~USD 4,700; family of four ~USD 9,800 |
| Good for | no personal income tax; private banking cluster; a home address that tax offices respect |
| Common set-up | residence card + Monegasque bank deposit (~EUR 500k in practice) + a lease; companies stay elsewhere (Monaco taxes companies with 25% of turnover outside) |
Pros and cons
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Questions
- How much does residence in Monaco cost?
- Residence card: a lease in Monaco and a Monaco bank deposit (no legal minimum; banks expect ~EUR 500k): USD 540k that stays yours (deposit, investment or funds shown) plus about USD 3,000 in fees, about 3 months.
- Does Monaco tax foreign income?
- Not taxed. In one line: 0% on foreign income · 0% on local income (French citizens excepted).
- What does it cost to live in Monaco?
- Living costs about USD 7,500 a month for one person in Monaco City, USD 4,950 in Monte Carlo, and around USD 4,700 on a bare-minimum budget (based on livingcost.org, 2026).
- Can I run an online business from Monaco?
- Effective tax about 0% with the cheapest legal set-up, which costs about USD 5,000 a year: trading from Monaco needs a government authorisation; most residents keep their company elsewhere.
- What is the catch in Monaco?
- Proof of real residence matters to your former country.
Compare
- Andorra: 10% on foreign income (credit for tax paid abroad) · 10% on local income · 10% top
- Switzerland (lump-sum taxation): lump-sum: a yearly fixed tax on living costs instead of tax on income (foreign income and gains included)
- Italy (flat tax for new residents): EUR 300k a year flat on all foreign income and gains, whatever the amount · 43% on Italian income
- Greece (non-dom): EUR 100k a year flat on all foreign income (+EUR 20k per family member) · up to 44% on Greek income
- Cyprus (non-dom): 0% on dividends and interest (non-dom, 17 years) · 20-35% on work income · 0% on securities gains
- Malta: foreign income: 0% unless brought to Malta (min. tax EUR 5k) · 35% top on Maltese income
- Portugal (IFICI): 0% on most foreign income (IFICI, 10 years) · 20% flat on qualifying Portuguese work income · 48% otherwise
- United Kingdom (FIG regime): first 4 years: 0% on foreign income and gains (FIG) · up to 45% on UK income · then worldwide
Compare all 53 places with your own income and budget →
Sources
- https://www.gouv.mc
- Living costs: based on livingcost.org (livingcost.org, June 2026), rounded