Frequently asked questions

1. Create a business plan and find a suitable location for your business 
2. Choose the right legal form for your business 
3. If you are planning to carry out a regulated activity, you will need a licence. You can find out if your planned activity is regulated by referring to this list: List of activities that are regulated
4. Obtain any licences and/or declarations required by submitting an application to the Business Development Agency (DDE)
5. If you plan to carry out construction or other work at your business premises, you will need to obtain a building permit from the Department of Forward Studies, Urban Planning and Mobility (DPUM)
6. Register your business with the Trade and Industry Directory (RCI) and declare the Beneficial Owners if necessary
7. Obtain your statistical identification number (NIS) from Monaco Statistics and register with the Department of Tax Services
8. Register with the social security body Monaco Social Security Funds and the Department of Employment   
9. If your business is a shop or restaurant: If your place of business has a frontage or sign with the name of your business: Register it with the Trade and Industry Directory (RCI)

Startup costs will vary depending on the legal form of your business.

They generally include:

• Share capital
• Registration fees payable to the Department of Tax Services
• Registration fees payable to the Trade and Industry Directory (RCI)
• Costs of publishing notice in the Journal de Monaco
• And social security contributions (CAMTI/CARTI) that will need to be paid as long as your business is operating

No, you can create a business in Monaco without a Monegasque citizen involved. However, some activities that are already widely carried out in the Principality may be reserved exclusively for Monegasque nationals.

The statutory period is no more than 45 days, in accordance with ​​​​​Act No. 1.573 of 8 April 2025 pertaining to the modernisation of company law.

However, the law doesn’t stipulate a specific period for regulated activities, and the process may take longer.

Yes, your business must have professional premises in Monaco.

Various types of premises can be used, depending on the nature of your activity: office, retail unit or shop, business centre, etc.

See: I need to find premises for my business. What are the options?

Yes, you do. You’ll need to open your bank account in Monaco after obtaining an official licence from the Prince’s Government and before registering your business with the Trade and Industry Directory.

The declaration is intended for Monegasque nationals intending to carry out unregulated activities, whereas the licence application is for foreign nationals and Monegasques looking to carry out regulated activities. 

If you are setting up a company with several business partners, there are a number of legal forms you can choose, but the two most common options are: the société à responsabilité limitée (SARL) and the société anonyme monégasque (SAM).

Yes, Monegasques and their spouses may be eligible for a Grant for Setting up a Business. The grant covers the cost of their social charges (CAMTI/CARTI) and part of their business rent for a duration of 3 years.

No. By Ministerial Decree, to be eligible for the grant, all of your income must come from the business you are starting.

This also includes:

• Unemployment benefit
• Student grants
• Directors’ emoluments, etc.
• If you are found to have an alternative source of income, the grant will be stopped immediately

The rent component of the grant is reduced in stages over the three-year period:

• Year one: up to EUR 900.00 per month
• Year two: up to EUR 600.00 per month
• Year three: up to EUR 450.00 per month
   

The application process takes around two to three weeks. You will be sent a letter of confirmation once your application has been approved by the relevant department.

You can either register business as a sole trader and société unipersonnelle à responsabilité limitée (SURL - single-member private limited liability company). For more information, refer to the Act No. 1.573 of 8 April 2025 pertaining to the modernisation of company law.

There are several types of business premises available in the Principality of Monaco:

• Business premises in the private sector: you can find these to buy or rent through Monegasque real estate agencies or on the Real Estate Chamber of Monaco website​​​
• Business premises in the State-owned property sector: State-owned premises allocated via an application process, published in the Journal de Monaco, and assessed by an Allocations Panel, or premises (State-owned but not considered public) awarded or sold with the agreement of the State Property Authority. For further information, consult the dedicated page
• Workspace in a business centre: Rent a desk in a co-working space or a private office. For further information, consult the dedicated page and check out the list of business centres in the Principality by clicking here
• Monaco Boost: a business incubator launched by the Prince’s Government to give a fresh boost to the creation and development of new businesses established by entrepreneurs of Monegasque nationality or spouse of a Monegasque national, Monaco Boost offers desks in co-working space and private offices. These are allocated via an application process. For more information, visit the official Monaco Boost website

You will need to submit an application to the Business Development Agency. A full list of the documents to be provided can be found on our dedicated web page here.

An application must be submitted to the Business Development Agency. A full list of the documents to be provided can be found on our dedicated web page: How to transfer shares

Firms with a registered office abroad may open an administrative office in Monaco. To do so, they must apply for a licence from the Business Development Agency. An administrative office is not permitted to carry out commercial activities. The firm will need to appoint a representative (known as an "agent responsable") to manage the administrative office.

1) Make sure your business falls into one of the following categories:

• Licensed self-employed professionals
• Non-profit associations, federations, foundations
• Property letting, subletting, or joint ownership
• Professional artists (independent or occasional) etc.

2) Complete the declaration d’immatriculation au Répertoire du NIS et la transmettre à la Direction du Développement Économique

Temporary businesses in the Principality of Monaco cover a wide range of activities, such as retail goods or food sales in the form of pop-up stores, auctions, exhibitions with or without sales, and one-off services (mobile hair stylist/beautician services, etc.). They may also include certain activities involving the use of technical equipment, such as helicopter hoisting or pyrotechnic devices.

Before you can carry out one of these temporary activities, you will first need to obtain a licence for a foreign activity or an activity registered with the Trade and Industry Directory (RCI). You may be liable for a fine or other penalties if you carry out an activity without a licence.

The procedure to follow is explained in this practical guide:

Important: firms, self-employed people or subcontractors not registered for business in Monaco who want to take part in public or private sector construction or works projects must follow a specific procedure with the Business Development Agency.

One-off events such as entertainments and other activities must be planned in consultation with the Monaco Union of Traders and Artisans (UCAM) and local representatives of the district concerned. 

Once your project has been finalised, you will need to email a written request (commerce@gouv.mc) to the Business Development Agency, which is responsible for providing support and financial assistance to retailers and other traders for their projects, subject to approval by the Minister of Finance and Economy.

Once the Business Development Agency has approved your project, you must send an email to the Ministry of Interior (interieurmanif@gouv.mc) requesting all of the permits required to stage your event.

The aim of the "Monaco Welcome Certified" label is to promote high standards of welcome in the private and public sectors in order to create a "Made in Monaco" welcome.

The aim of this label is to provide recognition and visibility for the efforts of economic players in the Principality who are committed to offering an excellent welcome and also to offer clients reliable, standardised and objective information on the quality of the welcome offered in Monaco.

Would you like to apply for certification for your organisation? Details of how to apply can be found on the Monaco Welcome website.

You can get help with interest payments on business loans. 

The rate of interest you pay can be reduced by 2 to 3 points, on a loan of up to EUR 300,000.00. This assistance reduces the total cost of interest you need to pay over the duration of the loan.

Yes, you can apply for a one-year extension to cover social security contributions, subject to certain conditions. You will need to provide a note containing details about what your company has been doing for the first three years:

• Formalities undertaken
• Customers or contracts
• Turnover, etc.

In the note, you must explain why assistance is needed for a fourth year. 

Remember to add any relevant documents (such as financial statements) to support your request.

Yes, an industrial subsidy is available to help industrial firms cover their rental costs. This subsidy, which is paid in arrears in six-monthly instalments, it is based on the amount of rent paid and the surface area occupied by the company.

Yes, there is a type of financial assistance called "Trade Fair Support". This support covers 65% of the costs of attending a trade fair as an exhibitor (75% for Japan), in the form of a loan. 

Recipients are required to repay the amount advanced within two or three years after the event. Trade Fair Support is not available for trade fairs in the Provence-Alpes-Côte d’Azur region.

Important: This is a loan, not a grant, and must be repaid.

Yes, a scheme called Marketing Support assists the creation of a commercial service or the marketing of a new product in industrial or tertiary industrial companies. It is aimed at companies with fewer than 250 employees and a turnover of less than EUR 40 million. This grant, capped at EUR 30,000 over a 12-month period, is paid in two instalments, and the amount depends on the eligible costs incurred by the firm.

Yes, you can obtain assistance through the Monegasque Fund for Innovation, created to fund innovative projects. Help is available for firms operating in the industrial or tertiary industrial sectors or providing services to industry, if their project concerns a technologically innovative product. 
Funding can be provided in the form of loans or grants, and is designed to support Monegasque businesses working on projects that are genuinely technologically pioneering or innovative in their market.

The Blue Fund is designed to co-finance digital projects by Monegasque companies. To be eligible, your business must meet certain criteria. To find out more about the eligibility conditions and application process, visit the dedicated page on the official MonEntreprise website.

You will need to submit a request for approval to the Business Development Agency. Your application must include a letter indicating the new name of your business, and two originals of the official record of the change (this document is only required for companies).

A request for approval must be submitted to the Business Development Agency.

 The full list of documents required can be found on our dedicated web page here.

In accordance with Ministerial Decree No. 2019-1031 of 12 December 2019 on the terms and conditions for the refund of employers' contributions for Sundays worked, the Prince’s Government does refund employers' contributions paid for Sundays worked, although certain conditions apply:

• The employer must have previously submitted an application to the Labour Inspectorate of the occupation of the voluntary staff with regard to the Sunday opening (see here for a more detailed explanation)
• The firm must have fewer than ten employees
• The firm’s last annual turnover must be less than EUR 1.2 million
• You will need to send an email to the Business Development Agency (commerce@gouv.mc) no later than the ninth day of the month after which the employees concerned worked on a Sunday, using the form provided on the dedicated web page. 

The Monaco Boost business incubator is for Monegasque entrepreneurs and spouses of Monegasque nationals who meet certain eligibility criteria.a To find out more about the eligibility conditions and to download the application forms, visit the dedicated page of the official Monaco Boost website.