Business Funding and Support in Monaco

Overview of Monaco's Funding Ecosystem

Monaco provides a comprehensive support system for businesses at all stages. Funding and support mechanisms include direct grants, low-cost workspace, bank financing with government guarantees, venture capital, and non-financial support services.

Your eligibility for different programs depends on:

• Company stage: Startup, growth, or established
• Citizenship status: Monegasque national, spouse, or other
• Industry sector: Innovation-driven, traditional, services
• Funding size needed: Micro-loans, mid-range financing, or equity investment

Direct Grants and Support Programs

Business Start-Up Grant (Subvention d'Installation à la Création d'Entreprise)

For Monegasque nationals and spouses

• Eligibility: Under 65, first self-employment, business must be sole income source
• Duration: 1 year, with 2 possible extensions (maximum 3 years)
• Rent support:
  • Year 1: €900/month
  • Year 2: €600/month
  • Year 3: €450/month
• Social security: Covers CAMTI/CARTI social security contributions
• Accounting: Free first-year accounting support from Ordre des Experts-Comptables (professional accountants association)
• Application: Contact mbo@gouv.mc

Monaco Boost Incubator Program

For Monegasque nationals and spouses

• Location: Fontvieille
• Workspace options:
  • Hot Desk: €94/month excl. tax (1 day/week)
  • Dedicated Desk: €227.50/month (5 days/week)
  • Exclusive Office: From €425/month (24/7 access)
• Application: Via Journal de Monaco calls for proposals
• Contract: 1-year service contract, renewable
• Evaluation: Approvals Committee reviews business projects
• Contact: contact@monacoboost.mc, (+377) 97 77 20 20, 4/6 avenue Albert II, Zone F – Entrée B – 7ème étage
• Hours: 9:30am–5:00pm Mon–Fri

Business Centres (Multiple Tiers)

Available to various groups

• Start Up MC: For Monegasques, 6 months renewable once
• Start Up: For non-Monegasques, 3 months renewable once
• Primo: For all, 3 years maximum, 1 day/week minimum
• Primo+: Unlimited duration
• Campus: For SARL/SNC/SCS, 3 years maximum
• Campus+: Unlimited duration after Campus graduation
• Exclusive Office: For all entity types, unlimited, size requirements by activity (SAM need 25m², others 9m² minimum)

Bank Financing and Credit

Standard Business Loans

Banks in Monaco offer:

• Working capital loans: For operational expenses
• Investment loans: For equipment, property, or expansion
• Short-term credit facilities: For seasonal or project-based needs
• International payment services: For import/export operations

Monegasque Guarantee Fund (Fonds de Garantie Monégasque)

Guarantees bank loans for eligible businesses

• Loan minimum: €50,000
• Guarantee ceiling: €1,000,000
• Guaranteed quota: 65%
• Commission: 0.30%
• Coverage: 80% of total requirement excluding tax; 50% for intangible assets
• Application process: Via banks to Department of Budget and Treasury
• Contact: Department of Budget and Treasury, 12 Quai Antoine 1, (+377) 98 98 87 73

Venture Capital and Equity Investment

SACDE (Société Monégasque de Capital Développement)

Government-owned venture capital firm (100% state-owned)

• Purpose: Supports innovative companies
• Investment forms: Share capital contributions or loans
• Target sectors: Innovation-driven businesses
• Contact: Department of Budget and Treasury

Innovation and Research Funding

European Programs

• Horizon Europe: EU research and innovation funding
• EUREKA Fund: Collaborative research and development
• Monaco Fund for Innovation: National innovation support

StartUp Programme

Support for technology and innovative business models

Complementary Support Services

Interest Subsidies

Government programs may cover part of business loan interest under specific conditions.

Export Support

• Trade fair participation support
• Marketing grants for international expansion
• Export documentation assistance

Industrial Support

• Industrial rent subsidies (for manufacturing or production)
• Equipment purchase grants (in some sectors)
• STO (Société de Travaux d'Ordre) framework support

Marketing and Branding

• Marketing grants for local and international promotion
• Brand development support
• Market research subsidies

Professional Services Support

• Free or subsidized accounting (first-year for startup grantees)
• Legal advice services
• Business planning consultation
• HR and payroll setup support

Support by Company Stage

Early-Stage Startup (0–6 months)

Best programs:

• Monaco Boost (workspace + mentoring)
• Business Start-Up Grant (if eligible)
• Business centres (Start Up MC or Start Up tiers)
• Bank relationship development for future financing

Growth Stage (6 months–2 years)

Best programs:

• Primo or Campus business centres
• Monegasque Guarantee Fund (for loan financing)
• Innovation funding (Horizon Europe, StartUp Programme)
• SACDE investment (if innovation-focused)

Established Companies

Best programs:

• Export support programs
• Marketing grants
• Innovation funding for new product lines
• SACDE expansion financing

Non-Financial Support

Monaco Business Office (Bureau des Affaires)

Three divisions:

• Business Start-up: Initial company setup support
• Business Development & Financing: Growth and funding strategies
• Trade & Industry Promotion: International market development

Address: 9 rue du Gabian, 2e étage Phone: (+377) 98 98 98 98 Hours: 9:30am–5:00pm Mon–Fri Online appointments: Via rdvmonguichet.mc

Professional Services Access

• Accounting support: Ordre des Experts-Comptables (professional accountants)
• Legal services: Lawyers and notaries
• HR and payroll: Specialized consultants
• Insurance and risk management: Business insurance brokers

Industry-Specific Support

• Cultural projects: Dedicated support for arts and culture enterprises
• Tourism: Programs for hospitality and leisure businesses
• Technology: Innovation hubs and digital transformation support

How to Access Funding: Step by Step

1. Identify Eligible Programs

Review your eligibility based on:

• Company stage (startup, growth, established)
• Citizenship status (Monegasque, spouse, other)
• Industry sector (innovation, traditional, services)
• Funding amount needed

2. Prepare Your Business Plan

Most programs require:

• Detailed business description
• Market analysis
• 3-year financial projections
• Use of funds breakdown
• Team/management information

3. Contact Relevant Institutions

For startup grants and SACDE:

• Email: mbo@gouv.mc
• Phone: (+377) 98 98 98 98
• Office: 9 rue du Gabian, 2e étage

For Monaco Boost:

• Email: contact@monacoboost.mc
• Phone: (+377) 97 77 20 20

For Guarantee Fund:

• Contact: Your bank and Department of Budget and Treasury

4. Submit Applications

Each program has different timelines and requirements. Plan ahead:

• Startup grants: Ongoing applications (check for deadlines)
• Monaco Boost: Via Journal de Monaco calls
• Business centres: Apply directly to centre managers
• Bank financing: Continuous (submit 4–6 weeks before funds needed)

5. Follow-Up and Reporting

Programs often require:

• Regular progress reports
• Financial statements
• Compliance demonstrations
• Attendance at events or mentoring sessions

Combining Multiple Support Programs

Many entrepreneurs leverage multiple programs simultaneously:

• Workspace + Financing: Monaco Boost or Primo centre + bank loan (with Guarantee Fund)
• Grants + Equipment: Start-Up Grant rent support + bank loan for equipment
• Equity + Operational: SACDE investment + Guarantee Fund for working capital
• Services + Networking: Business Office support + professional services access

Common Funding Mistakes to Avoid

• Not applying early enough (some programs have waiting periods)
• Underestimating professional service needs
• Relying on a single funding source
• Missing application deadlines (check Journal de Monaco regularly)
• Not maintaining required reporting and compliance
• Overestimating eligibility criteria

Key Contacts Summary

Note: This page is an informational resource based on official Monaco sources and does not replace professional banking, accounting, legal, or financial advice.