About the Principality

Living and working in Monaco is a privilege. Spending time here is a precious experience that most visitors like to relive. CFM Indosuez – Monaco’s leading bank – will be pleased to share its vision of what makes the Principality unique… and will be honoured to make your acquaintance.

AN EXCEPTIONAL QUALITY OF LIFE

Located at the heart of Europe, on the Mediterranean coast and at the foot of the Southern Alps, Monaco benefits from a pleasant climate all year round. It is ideally located within two hours’ flying time of all of Europe’s major cities, and just 20km from Nice-Côte d’Azur airport.

As well as its privileged location, the Principality, which covers just two square kilometres, benefits from high-quality facilities and infrastructure for healthcare, education, tourism, events and transport. These facilities are regularly enhanced by major development projects.

 

POLITICAL STABILITY AND SECURITY FOR ALL

As an independent sovereign state governed by the same dynasty since 1297, over 38,000 residents in Monaco also enjoy a high-quality, discreet and robust security structure.

The Principality is connected to the world through its participation in international bodies such as the United Nations and the Council of Europe, and it maintains bilateral relations with many States. Its voice is heard on the international stage, where it promotes its commitments, in particular in favour of the environment, marine protection and sustainable development.

 

A WORLD-RENOWNED DESTINATION

Monaco is an incredible melting pot of talent and energy from around the world. It is one of the world’s most cosmopolitan states, almost 140 nationalities in residence.

While its official language is French, English and Italian are also widely spoken and the workforce is extremely multi-lingual. As well as its characteristic drive for excellence, the Principality boasts a vibrant cultural and sporting calendar, making it a unique and prestigious place. 

 

ENVIABLE ECONOMIC PROSPERITY

Monaco is far more than an illustrious tourist destination.

It is also a breeding ground of economic success. With 5,000 businesses and more than 54,000 jobs – 1,4 times the total population – Monaco is proud to have a dynamic, diversified economy, focused on trade, banking, real estate, hotels and industry. Its per capita gross domestic product ranks in the top five worldwide, and the economy is growing.

Its public finances are strong: government revenue exceeds expenditure, it has no debt and holds a sizeable asset portfolio.

 

AN ATTRACTIVE TAX POLICY

This favourable financial position and its independence mean that Monaco can offer its residents advantageous tax conditions:

  • no income tax,
  • no wealth tax,
  • no local taxes,
  • no capital gains or real estate taxes,
  • minimal inheritance tax and gift taxes.

 

N.B. Under the bilateral tax agreement between France and Monaco, particular tax rules apply to French citizens.

 

STRICT BANKING RULES

Strict banking regulations and laws apply to credit institutions in Monaco. These rules are comparable to European regulations in terms of prudential operating rules, business conduct to ensure investor protection, anti-money laundering procedures and international cooperation in line with the guidelines set by the Financial Action Task Force (FATF).

 

AN ATTRACTIVE CENTRE FOR INVESTORS

For all these reasons, and also because of the major projects undertaken there, Monaco attracts many investors, who receive high-quality banking services in return. At the end of March 2018, Monegasque banks managed assets totalling €116.4 billion. 

 

A WARM WELCOME FROM OUR TEAMS

As the Principality’s leading bank, we support our clients when they decide to settle in Monaco. Our teams will naturally help you analyse the legal, fiscal and estate planning implications of your decision. They will also help you complete the administrative formalities, in particular the specific procedures applicable depending on your previous country of residence.

We can also help you find a home or a school for your children. Welcome to Monaco.

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