move to monaco

Do you want to leave your current home and have decided to move to Monaco? You probably already know from past moves that this choice also confronts you with a number of challenges at the same time. Moreover, you are moving to a foreign country, which adds a lot to the effort.

Nevertheless, we believe that you have not spontaneously decided to tackle a move to Monaco. We are sure that you have already made some preparations. This is also important, because without them you will sooner or later encounter some problems.

We would like to help you with your move to Monaco in the form of this article. You will learn below everything you should know when you emigrate to Monaco.

The advantages of moving to Monaco

Many expatriates refer to Monaco as one of the most livable places in the world. There are numerous reasons why you should move to this small country.

Probably the most obvious reason to decide to move to Monaco is the taxes. Especially wealthy people and entrepreneurs decide to make Monaco your adopted country because you pay a much lower income tax there.
But you should also not underestimate Monaco when it comes to security. The principality is rightly considered one of the safest countries in Europe.

Furthermore, Monaco is simply indescribably beautiful. The principality is located between the Italian and the French Mediterranean coast. This makes the city-state not only a stylish vacation destination, but also an ideal place to live. In addition, you can also quickly get to other popular destinations such as Cannes and Portofino.

The weather in Monaco

Monaco has a typical Mediterranean climate. This means that you can expect hot summers. On the other hand, the winter season is rather mild.

Nevertheless, you do not have to sweat constantly in the summer. From your apartment you are already at the sea within a short time. Many luxurious apartments also have their own swimming pool. So you have the opportunity to cool down at any time.

What you need to know before moving to Monaco

If you decide to move to Monaco, you will definitely need a residence permit for the European dwarf state on the Côte d’Azur. Without a visa, you are allowed to stay in the Principality of Monaco for a maximum of 90 days. There are a number of conditions that you must meet in order to obtain a permit for your extended stay.

First, you must prove that you have a place to stay in Monaco. This can be either a house or an apartment. As an entrepreneur, it is also sufficient if you have your own company in this country.

Furthermore, you have to prove that your financial means are sufficient for your stay. How high this amount is, however, depends on the bank in Monaco where you give your reference. Therefore, we cannot give you an exact value. The only thing we can tell you for sure: In order to obtain a permanent right of residence in Monaco, you must deposit at least €400,000 (about CHF420,000) with a bank located in the Principality. Furthermore, you must purchase a property worth at least €700,000 (about 735,000 CHF).

Likewise, in order to acquire a residence permit, you will need a police clearance certificate. If you have already lived outside of Switzerland in between, you will need the police records for all countries you have lived in during the last 5 years before moving to Monaco.

However, besides these requirements, you should not forget the two most important documents: Your birth certificate and a valid identification document.

Working in Monaco

After your move to Monaco, you will have numerous opportunities to look for a job. However, keep in mind that rental prices in the principality on the Côte d’Azur are abnormally high. That’s why many workers with jobs in Monaco have their homes in France. As of today, about 30,000 workers do not live in the dwarf state, but commute daily across the Monaco border.

To find work in Monaco, it is essential to have an advanced knowledge of French. Other foreign languages are also an advantage. If you also speak English or Italian, you will have a good chance in the Monaco job market.

Once you have received an employment contract, you must register with the employment office. There your employment will be officially approved. It is common for police checks to be carried out in Monaco. For this reason, you should always carry your work permit with you.

We hope that the information we have gathered for you in this post will prepare you in the best possible way for a possible move to Monaco. In this article, we have explained, among other things, the advantages of living in European principality on the Côte d’Azur and the difficulties you can expect to encounter.

However, despite our article, you may still have unanswered questions. If this is the case, please feel free to send us a message. We will answer you as soon as possible and assist you with your move to Monaco to the best of our ability.

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