The Principality of Monaco imposes no nationality condition for the purchase of real estate. Whether European, American, Asian citizen or national of another country, any foreign individual accesses the Monegasque market under the same conditions as a local buyer. There is no quota, no prior authorization procedure linked to the passport, no reciprocity condition between States.
This openness is inscribed in the legal tradition of the Principality and applies both to natural persons and to corporate structures. For a foreign buyer, this means that no additional administrative delay linked to nationality extends the acquisition process. Once financing is in place and the property identified, the transaction can proceed.
If nationality is not an obstacle, the Monegasque market operates a natural filtering through prices. According to the Real Estate Observatory 2025 published by IMSEE, the median resale price in 2025 was 4 million euros. In 2025, more than half of sales of new properties exceeded 20 million euros. This price level, combined with traceability requirements of funds imposed by Monegasque anti-money laundering regulations, constitutes the entry point to be mastered for any foreign buyer.
Banks and Monegasque notaries are required to verify the origin of funds before any transaction, regardless of the buyer’s nationality. A well-prepared file in advance, with clear supporting documents on the origin of funds, is an essential condition for the transaction to proceed within the desired timeframe.
Acquiring a property in Monaco does not confer Monegasque resident status. These two procedures are legally independent from each other. A non-resident can perfectly sign a sales deed in the Principality, own real estate and rent it out, without ever establishing domicile there. Owning an apartment in Monaco allows proof of housing in a residence file, but other conditions are added to it.
Without a residence permit issued by the Monegasque authorities, it is not possible to stay more than three months per year in the Principality. A buyer who simply wishes to hold a real estate asset without settling there has no residence procedure to complete. One who intends to establish domicile after purchase must undertake a separate procedure with the Public Security Directorate. To go further, consult our guide to obtain Monegasque residence after purchase.
A foreign non-resident buyer has full ownership of their property and may occupy it as a secondary residence, within the limit of three months per year authorized without residence permit. They may also rent it out, receive rental income and resell it freely, with no minimum holding period imposed by Monegasque law. In Monaco, there is neither annual property tax nor private capital gains tax for individuals.
Rental income is subject to no tax in the Principality. However, it must be declared in the tax residence country of the owner, according to applicable local rules. Likewise, some countries include foreign-held assets in their tax base. For all tax implications according to your personal situation, consult our guide on taxation and patrimonial advantages in Monaco.
The Principality of Monaco applies strict anti-money laundering regulations, in line with FATF international standards. For any foreign buyer, traceability of the origin of funds is verified before signing the notarial deed. This requires being able to justify, with supporting documents, the origin of the sums used for the acquisition: sale of a previous asset, employment income, inheritance, company dividends, etc.
Payment of the price must obligatorily pass through a bank account opened with a Monegasque institution or through a notarial escrow account. Opening this account in advance, ideally several weeks before signing, is therefore a step to anticipate. Monegasque banks apply their own onboarding criteria, independently of the real estate transaction, and may request additional documents.
A foreign buyer is not always able to travel to Monaco for each notarial appointment. Monegasque law allows the use of a notarized power of attorney, which authorizes a representative to sign the sales deed in place of the buyer. This power of attorney must be drawn up and authenticated before a notary in the buyer’s country of residence, then apostilled according to applicable international conventions.
If the document is written in a language other than French, a sworn translation is mandatory for acceptance by the Monegasque notary. These formalities take time and must be anticipated well in advance of the planned signing date. Neglecting this point is one of the most frequent causes of delay in closing schedules on the Monegasque market.
On a procedural level, purchasing real estate in Monaco follows the same process for a foreigner as for a local buyer. It begins with a written purchase offer accompanied by a 10% deposit of the proposed price, paid to one of the three notarial offices of the Principality. It continues with the signing of a preliminary sale agreement, then the signing of the authentic deed before a notary.
The State of Monaco pre-emption right, applicable to buildings constructed before 1 September 1947, applies to all buyers without distinction of nationality and may extend the completion delay by one month.
Acquisition costs in Monaco are identical for residents and non-residents. For an acquisition in personal name by a natural person, they represent around 10 to 11% of the property price, including registration duties, notarial fees, transcription duty and agency commission. These costs are due once only, at the time of the transaction. For full breakdown and special cases (mortgage financing, acquisition via company), consult our guide on real estate purchase costs in Monaco.
A foreign buyer may acquire property in Monaco through a foreign corporate structure. Monaco imposes no local registration obligation for this type of operation. However, Law No. 1.548 of 6 July 2023 has profoundly modified taxation applicable to opaque structures: transfers made in favor of non-transparent entities are now taxed at a rate twice as high as that applicable to individuals.
This reform aims to favor transparency on beneficial owners and discourage complex structures without real economic justification. For any acquisition via SCI, holding company or foreign company, tax and legal implications must be analyzed in advance with a specialized advisor.
Yes, without any nationality restriction. The Principality imposes neither quota nor prior authorization linked to the buyer’s country of origin. Any foreign individual accesses the market under the same conditions as a Monegasque buyer.
No. Purchase and residence are two legally independent procedures. Owning a property allows proof of housing in a residence file, but other conditions are added. The residence card must be requested separately from the Public Security Directorate.
Yes. A non-resident owner has full ownership of their property and may rent it freely. Rental income is not taxed in Monaco, but must be declared in the owner’s tax residence country.
No. Monegasque law allows the use of a notarized power of attorney, which allows a representative to sign in place of the buyer. This power of attorney must be authenticated in the buyer’s country of residence, apostilled, and translated into French if necessary.
Yes. Acquisition costs are identical regardless of nationality or residence of the buyer. For a purchase in personal name, they represent around 10 to 11% of the property price, including duties, notarial fees and agency commission.
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