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Monaco Country Profile

Passport
For more details visit Monaco Passport Ranking
  • Passport Grade
    A
  • Passport Ranking
    28/198
  • Passport Score
    176.3/198
  • Visa-free Countries
    148
  • Visa-required Countries
    50
  • Access to the World's GDP
    75%
  • Access to the World's Surface Area
    58%
  • Access to the World's Population
    45%
  • Access to the Unesco Sites
    80%
Citizenship and Naturalization
Birthright citizenship (Jus Soli)
  • Birthright citizenship (Jus Soli)
    No
    No provisions
Naturalization - Standard Conditions
  • Minimum residency period
    10 years
    The naturalization process is reported to be highly discretionary.
  • Physical presence requirement
    –
  • Language test
    No
  • Need to renounce original citizenship?
    Yes
  • Can minor children naturalize?
    Yes, minor children naturalize along with parents
  • Can naturalized parents pass citizenship to a child born abroad?
    –
  • Can you lose naturalization due to prolonged absence/ naturalization elsewhere?
    –
Naturalization - Your Spouse is a Citizen
  • Living IN the country: Residency/marriage requirement
    0 years / 10 years
    Must be married for 10 years. No in-country residency requirements.
  • Living ABROAD: Marriage requirement
    10 years
    Can reside abroad during 10 years of marriage.
  • Language test
    No
  • Need to renounce original citizenship?
    No
Naturalization - Other Beneficial Provisions
  • Your child is a citizen
    No provisions
  • Citizens of specific countries
    No provisions
"–": The provision has not been analysed.
Visas and Residencies
Visas and Residencies
Taxation
For more details visit Cost of Living
  • Taxation Type
    No personal income tax
The country generally imposes no taxation on personal income, whether it was generated within its territory or abroad.

Note that France continues to tax its citizens on their worldwide income if they move to Monaco.
Schiff Sovereign's Take on Monaco
Monaco is one of the wealthiest places per square centimeter in the world.

It is also one of Europe's only tax havens, and attracts extreme wealth. Which probably means that if you’re not a very high net worth individual, it may not be the greatest place to live.

But if you are swimming in money, then Monaco offers a premium lifestyle (albeit at a premium cost). 

You’ll pay around 8 million euros to purchase a 2-bedroom apartment in a luxury building, where your neighbors may be Chinese billionaires or movie stars.

But if you can afford Monaco, we explain how to become a resident there in this premium report.

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Monaco Overview
  • Region
    Europe
  • Capital City
    Monaco
  • Largest City
    Monte Carlo
  • Currency
    Euro
  • Languages
    French, English, Italian
  • Population
    39.2 thousand (199th)
  • Life Expectancy
    89.5 years (1st)
  • GDP (Nominal)
    $6.8 billion (158th)
  • GDP/Capita
    $174,100 (1st)
Useful Data
For more details visit Cost of Living
  • Cost of Living
    Extreme (7/7)
  • Climate
    Very comfortable (1/5)
  • Safety
    The Safest (1/7)
  • Pollution
    Very polluted (5/5)
  • English Proficiency
    High (2/5)

Sovereign Global Explorer

Benefiting from over a decade of our team’s boots-on-the-ground experience, Global Explorer is where your international journey begins.
Explore Now
Found a mistake /
Have a suggestion ?
Please let us know if you spot any inaccuracies on this page or have a suggestion on how to make it even more useful.
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