The Principality of Monaco imposes no nationality requirement for purchasing real estate. Whether European, American, Asian, or a national of any other country, any foreign individual has access to the Monegasque property market under the same conditions as a local buyer. There are no quotas, no prior authorisation procedures linked to the passport, and no reciprocity requirements between states.
This openness is embedded in the Principality’s legal tradition and applies equally to both individuals and corporate structures. For a foreign buyer, this means that no additional administrative delay related to nationality extends the acquisition process. Once financing is in place and the property identified, the transaction can proceed.
While nationality does not constitute an obstacle, the Monegasque real estate market operates a natural filtering effect through price levels. According to the 2025 Real Estate Observatory published by IMSEE, the median resale price in 2025 stood at €4 million. In the same year, more than half of new-build property sales exceeded €20 million. This price level, combined with the traceability requirements imposed by Monaco’s anti-money laundering regulations, represents the entry threshold that foreign buyers must be able to meet.
Monegasque banks and notaries are required to verify the origin of funds before any transaction, regardless of the buyer’s nationality. A well-prepared file, with clear documentation on the source of funds, is therefore essential to ensure that the transaction proceeds within the expected timeframe.
Buying property in Monaco does not grant Monegasque resident status. These two procedures are legally independent from one another. A non-resident can perfectly well sign a deed of sale in the Principality, own real estate, and rent it out without ever establishing residency there. Owning an apartment in Monaco can serve as proof of accommodation in a residency application, but additional requirements must also be met.
Without a residence permit issued by the Monegasque authorities, it is not possible to stay in the Principality for more than three months per year. A buyer who simply wishes to own a real estate asset without relocating therefore has no residency formalities to complete. A buyer intending to establish residence after the purchase must initiate a separate application process with the Direction de la Sûreté Publique. For further information, consult our guide on obtaining Monegasque residency after purchasing property.
A foreign non-resident buyer enjoys full ownership rights over their property and may use it as a second home, subject to the three-month annual stay limit applicable without a residence permit. The property may also be rented out, generating rental income, and can be resold freely, with no minimum holding period imposed under Monegasque law. In Monaco, there is no annual property tax and no private capital gains tax for individuals.
Rental income is not subject to taxation in the Principality. However, it must be declared in the owner's country of tax residence in accordance with the applicable local rules. Likewise, some countries include foreign-held real estate assets within their tax base. For a complete overview of the tax implications based on your personal circumstances, consult our guide on taxation and wealth planning advantages in Monaco.
The Principality of Monaco applies strict anti-money laundering regulations in line with international FATF standards. For every foreign buyer, the traceability of the source of funds is verified before the signing of the notarial deed. This means being able to provide supporting documentation demonstrating the origin of the funds used for the acquisition: sale of a previous property, employment income, inheritance, company dividends, and similar sources.
The purchase price must be transferred through a bank account opened with a Monegasque banking institution or through a notarial escrow account. Opening this bank account in advance, ideally several weeks before completion, is therefore an important step to anticipate. Monegasque banks apply their own onboarding and due diligence criteria independently of the real estate transaction and may request additional supporting documents.A foreign buyer is not always able to travel to Monaco for every notarial appointment. Monegasque law allows the use of a notarised power of attorney, enabling a representative to sign the deed of sale on behalf of the buyer. This power of attorney must be drafted and authenticated before a notary in the buyer’s country of residence and then apostilled in accordance with the applicable international conventions.
If the document is drafted in a language other than French, a certified translation is required for it to be accepted by the Monegasque notary. These formalities take time and must be anticipated well in advance of the scheduled signing date. Overlooking this point is one of the most common causes of delays in closing timelines on the Monaco real estate market.
From a procedural standpoint, purchasing real estate in Monaco follows the same process for a foreign buyer as it does for a local purchaser. It begins with a written purchase offer accompanied by a deposit equal to 10% of the proposed purchase price, paid to one of the Principality’s three notarial offices. The process then continues with the signing of a preliminary sale agreement, followed by the execution of the final notarised deed before a notary.
The Monegasque State’s right of pre-emption, applicable to buildings constructed before 1 September 1947, applies to all buyers regardless of nationality and may extend the completion timeline by one month.
Property acquisition costs in Monaco are the same for residents and non-residents. For a purchase made in an individual's own name, these costs generally amount to approximately 10% to 11% of the property purchase price, including registration duties, notarial fees, transcription duties, and agency fees. These costs are payable only once, at the time of the transaction. For a complete breakdown of these costs and specific cases (mortgage financing, purchase through a company structure), consult our guide to property purchase costs in Monaco.
A foreign buyer may acquire property in Monaco through a foreign corporate structure. The Principality does not require such entities to be incorporated locally for this type of transaction. However, Law No. 1.548 of 6 July 2023 has significantly changed the tax treatment applicable to opaque structures: transfers made in favour of non-transparent entities are now subject to a tax rate that is twice the rate applicable to individuals. This reform is intended to promote transparency regarding beneficial owners and to discourage complex structures that lack genuine economic justification. For any acquisition through an SCI, a holding company, or a foreign corporate entity, the tax and legal implications should be assessed in advance with the assistance of a specialised advisor.
Yes. There are no nationality restrictions on buying property in Monaco. The Principality imposes neither quotas nor prior authorisation requirements based on the buyer’s country of origin. Any foreign individual can access the Monegasque real estate market under the same conditions as a local buyer.
No. Property ownership and residency are two legally separate processes. Owning a property can serve as proof of accommodation in a residency application, but additional requirements must also be met. A residence permit must be applied for separately through the Direction de la Sûreté Publique.
Yes. A non-resident owner has full ownership rights and may freely rent out the property. Rental income is not subject to taxation in Monaco, but it must be declared in the owner’s country of tax residence in accordance with applicable local regulations.
No. Monegasque law allows the use of a notarised power of attorney, enabling a representative to sign on behalf of the buyer. The power of attorney must be authenticated in the buyer’s country of residence, apostilled, and translated into French if required.
Yes. Acquisition costs are identical regardless of the buyer’s nationality or place of residence. For a purchase made in an individual's own name, these costs generally represent approximately 10% to 11% of the property price, including registration duties, notarial fees, and agency commissions.
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