Europe
Monaco is a sovereign city-state on the French Riviera, known for its luxury lifestyle, casinos, and favorable tax system. Although not part of the EU or Schengen Agreement, Monaco's territory is part of the Schengen Area through its customs union with France. The Schengen visa policy applies, so most visitors from visa-exempt countries can enter for up to 90 days without a visa. Monaco does NOT have a digital nomad visa - residency requires substantial financial resources (minimum EUR 500,000 bank deposit) and is designed for high-net-worth individuals. No personal income tax, capital gains tax, or wealth tax for residents.
Visa requirements vary by nationality
Monaco follows the Schengen visa policy. Visa-exempt nationals can enter for up to 90 days in any 180-day period. Others need a Schengen visa from a French consulate. No separate Monaco tourist visa exists.
Short-stay Schengen visa for tourism or business only. Does not authorize any form of employment or remote work in Monaco. Working without proper authorization is illegal.
Monaco has no personal income tax for residents (since 1869). Short-stay visitors are not considered tax residents. No capital gains, wealth, or property tax. French citizens are subject to French income tax under the 1963 bilateral treaty regardless of residence. VAT at 20% applies to goods and services.
First-time residence permit for foreigners wishing to stay in Monaco for more than 3 months. Valid for 1 year, renewable. Requires proof of accommodation and substantial financial resources (EUR 500,000+ bank deposit) or employment.
Residence permit allows living in Monaco but does not automatically grant work rights. Remote work for foreign employers is not explicitly regulated. Self-employed individuals can register a sole proprietorship (Entreprise Individuelle) with the Direction de l'Expansion Economique. Employment in Monaco requires a separate work permit. Freelancers working for foreign clients should register as self-employed to be fully compliant.
Extension: 365 days (max 3x)
Cost: €40
Process: Apply for renewal at least 2 months before expiry. Must demonstrate continued residence and financial stability.
Renewal: Renewable for 3 consecutive years. After 3 years, can apply for Ordinary Residence Permit (3-year validity).
Monaco levies no personal income tax on residents (policy since 1869). No capital gains tax, wealth tax, or annual property tax. Residents enjoy 0% tax on salary, dividends, and investment income. French citizens are the sole exception: under the 1963 Franco-Monegasque bilateral treaty, they are taxed as if resident in France. Self-employed must pay social contributions (approx EUR 6,550-13,060/year). VAT at 20% applies to business activities.
Residence permit for foreigners who have lived in Monaco for 3 years. Valid for 3 years, renewable. Provides greater stability than temporary permit.
Same rules as the temporary residence permit. Residence status alone does not authorize employment. Remote work for foreign employers is not explicitly regulated by Monaco law. Self-employed activity requires registration as Entreprise Individuelle. Local employment requires a separate work permit. Granted after 3 years of continuous residence on the temporary permit.
Monaco levies no personal income tax on residents (policy since 1869). No capital gains tax, wealth tax, or annual property tax. Residents enjoy 0% tax on salary, dividends, and investment income. French citizens are the sole exception: under the 1963 Franco-Monegasque bilateral treaty, they are taxed as if resident in France. Self-employed must pay social contributions (approx EUR 6,550-13,060/year). VAT at 20% applies to business activities.
Long-term residence permit for foreigners who have lived in Monaco for 10 years. Valid for 10 years - effectively permanent residency. Pathway to citizenship after additional requirements.
Monaco's equivalent of permanent residency, granted after 10 years of continuous residence. Does not automatically authorize employment. Remote work for foreign employers is not explicitly regulated. Self-employed activity requires registration. Local employment requires a separate work permit. Holders must reside in Monaco at least 183 days per year.
Monaco levies no personal income tax on residents (policy since 1869). No capital gains tax, wealth tax, or annual property tax. Residents enjoy 0% tax on salary, dividends, and investment income. French citizens are the sole exception: under the 1963 Franco-Monegasque bilateral treaty, they are taxed as if resident in France. Self-employed must pay social contributions (approx EUR 6,550-13,060/year). VAT at 20% applies to business activities.
Required for all foreigners taking paid employment in Monaco. Employer-driven process - must have job offer from Monaco-based company. Tied to specific employer and position.
Work permit is tied to a specific employer and position in Monaco. Does not authorize freelance or remote work for foreign clients. The employer must initiate the application and prove no local candidate is available. Hiring priority: Monegasque nationals first, then French citizens, then EU/EEA nationals, then others. Remote work (teletravail) is limited to max two-thirds of weekly working hours and must be agreed in the employment contract.
Monaco levies no personal income tax on residents (policy since 1869). Employment income earned in Monaco is tax-free for non-French residents. No capital gains, wealth, or property tax. French citizens are subject to French income tax under the 1963 bilateral treaty. Employers withhold social security contributions. VAT at 20% applies to goods and services.
Required for non-EU/EEA/Swiss nationals before applying for Monaco residence permit. Obtained at French consulate. Allows entry to Monaco to apply for residence card.
Long-stay visa is issued by French consulates as a prerequisite for obtaining a Monaco residence permit. It is a transit document that does not authorize employment or remote work. Once in Monaco, applicants must apply for a residence permit (Carte de Sejour) and, if needed, a separate work permit.
The long-stay visa itself has no tax implications. Tax status depends on the subsequent residence permit obtained in Monaco. Monaco has no personal income tax (since 1869), no capital gains tax, no wealth tax, and no property tax. French citizens are subject to French income tax under the 1963 bilateral treaty.
Visa requirements can change frequently. This information is provided for general guidance only and should not be considered legal advice. Always verify current requirements with the official embassy or immigration authorities before making travel plans. Last updated: December 1, 2025