Whether you're drawn to Monaco’s stunning coastline, prestigious lifestyle, or its renowned status as a hub for business and finance, this small yet prosperous principality has much to offer.
In this guide, we’ll walk you through everything you need to know about relocating to Monaco from a personal tax perspective, including tax residency, income tax, special tax regimes and tax return obligations.
TaxPilot recommend that you organize your affairs in good time to get ahead and make the most of favorable tax treatment while making sure you’re meeting your tax return obligations.
Monaco follows a zero taxation model. You will not pay tax on personal income sources.
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Tax on property and share sales
Tax on value of owned assets
Tax on assets passed to heirs
Tax to contribute to state welfare
If you receive incomes overseas while you are living in Monaco, you may find that the source country, as a starting point, continues to tax the income.
Double taxation agreements may remove the source country’s taxing right and thus, enable you to receive incomes tax free globally.
At present, Monaco has 11 double taxation agreements signed.
