Setting up a company in Monaco
Setting up a company in Monaco requires following several administrative and regulatory steps. The Principality is home to many international businesses in a variety of sectors such as finance, real estate, services, retail, hospitality and new technologies.
Before starting an activity, it is essential to choose a suitable structure, obtain the necessary authorisations and understand the obligations applicable to Monegasque businesses.
Main steps to set up a business in Monaco
1. Define your business project
Before taking any steps, the entrepreneur must define:
- the activity to be carried out;
- the target market;
- financial needs;
- the location;
- the number of employees, if any.
2. Choose a legal form
Depending on the activity and the objectives of the project, several structures are possible:
- Limited liability company (Société à Responsabilité Limitée, SARL);
- Monegasque public limited company (Société Anonyme Monégasque, SAM);
- Limited partnership (Société en Commandite Simple, SCS);
- Partnership limited by shares (Société en Commandite par Actions, SCA);
- sole proprietorship.
3. Obtain the necessary authorisations
Some activities require prior administrative authorisation issued by the Monegasque authorities.
4. Set up your premises
The company must have a business address in Monaco that is suited to its activity.
5. Complete the registration formalities
Once the procedures have been completed, the company is registered with the relevant bodies and can start trading.
Why set up a business in Monaco?
The main advantages are:
- an international business environment;
- political and economic stability;
- attractive taxation for certain activities;
- proximity to European markets;
- an international way of life.
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