Understanding the process
Individuals or legal entities domiciled or in the process of establishing themselves in Monaco who experience difficulties in opening a bank account with the bank of their choice in the Principality, may exercise the right to open a bank account in accordance with the provisions of the
Please note: Holders of an authorisation to conduct a token offering may also exercise this right. More information on Security Token Offerings is available here.
If the bank of their choice rejects their application to open a bank account, individuals should send the following documents to the Department of Budget and Treasury, by post or by email:
- A copy of the complete application submitted to the bank
- The certificate of refusal to open a bank account issued by the bank
- A sworn statement from the legal representative of the company to the effect that the company does not have a deposit account in Monaco opened in its name
Direction du Budget et du Trésor
12 quai Antoine 1er
MC 98015 Monaco Cedex
Phone: (377) 98 98 87 73
The Department of Budget and Treasury will send you a response within 15 working days of receipt of the required documents, designating a bank.
The designated bank will be obliged to open a bank account, except in the circumstances provided for under Article 8 of the Act No 1.492 of 08/07/2020 on the granting of the right to an account.