Understanding the process
The Prince's Government has established a Monegasque Commission for Compensation of Potential Economic Loss (CIPE) in order to compensate professionals located in the immediate proximity of public works sites.
This commission processes applications and, if necessary, draws up a proposition for compensation that is then submitted to the government for approval.
The state does not bear responsibility for loss of earnings caused by changes to general traffic circulation as a result of modifications to public road surfaces (changes to traffic management plans, diversion of traffic flow, cancellation of bus lines or stops, widening or narrowing of pavements, creation of pedestrian zones, etc.).
The state, on whose behalf the works are carried out, bears responsibility if the following conditions are met:
- There must be an actual and measurable loss
- The loss must be the direct result of the works carried out
- The loss must adversely affect a legally protected status
- There must be a specific loss
- There must be extraordinary loss
- Compensation is only awarded for losses where the reality and amount have been proven
For further information please consult the CIPE guide, available here:
In order for your application to be processed more swiftly, we advise you to have all supporting documents to your application certified or signed by your chartered accountant.
Documents to be provided:
- The completed compensation request form, available for download below (NB: for businesses that combine multiple activities, e.g. newsagent/tobacconist, please supply turnover figures for each activity)
- A copy of the company’s entry in the Trade and Industry Registry
- The VAT declaration from the three preceding financial years
- Bank account details (RIB)
- Photographs showing the sales point during the works
- The record of accounts certified by a chartered accountant or auditor registered in the Principality
- The final payslip of the employee or employees who have left the business
You must submit the completed application form and all the necessary supporting documents to the State Property Authority.