Business Registration in Monaco: Trade Directory, NIS, and Tax

Overview

Business registration in Monaco involves multiple steps and agencies. All businesses must register with the Trade and Industry Directory (RCI), obtain a statistical number (NIS), declare beneficial owners, and register for tax purposes. This reference guides you through the complete registration process.

The Registration Process: Step-by-Step

Step 1: Register with the Trade and Industry Directory (RCI)

What is the RCI?

The RCI (Registre du Commerce et de l'Industrie) is Monaco's official registry of all commercial businesses. Registration is mandatory for all commercial entities and must occur within 30 days of beginning operations.

Who must register?

• All SARL, SAM, SURL, SNC, SCS, SCA, and EIG companies
• Sole traders and self-employed professionals
• Commercial agents
• Partnerships

How to register:

1. Download the RCI registration form from monentreprise.gouv.mc or MonGuichet.mc
2. Prepare required documentation:
   • Completed registration form
   • Proof of business domicile
   • Company statutes (for companies)
   • Personal identification
   • Notarial deed (if required for your legal form)
3. Submit to the Monaco Business Office:
   • Address: 9 rue du Gabian, 2e étage
   • Phone: (+377) 98 98 84 50
   • Online: MonGuichet.mc for digital submission
4. Receive RCI registration confirmation (typically 1–2 weeks)

Important: Register within 30 days of starting operations to avoid penalties.

Step 2: Obtain NIS (Statistical Identification Number)

What is the NIS?

The NIS is assigned by Monaco Statistics (IMSEE) and is used for:

• Statistical classification of your business
• Tax identification
• Employment records
• Official correspondence

How to obtain an NIS:

1. Contact IMSEE (Institut Monégasque de la Statistique et des Études Économiques)

   • Website: https://www.imsee.mc
   • Phone: (+377) 93 15 80 41
   • Address: 9 rue du Gabian, 1er étage, 98000 Monaco

2. Provide required information:

   • Business name and legal form
   • Date of business start
   • Principal activity (with NAF-REV2 code)
   • Number of employees
   • Annual turnover estimate

3. Receive your NIS number (typically 1–2 weeks)

The NIS number will be used in:

• Tax filings
• Employee registrations
• Official business documents

Step 3: Register for Tax Purposes

Who must register?

All businesses generating income must register with Monaco's Department of Tax Services (Direction de la Fiscalité), regardless of legal form.

What to register for:

Corporate Tax (if applicable):

• SAM, SARL, SURL companies
• Partnerships generating corporate income

Personal Income Tax (if applicable):

• Sole traders
• Self-employed professionals
• Beneficial owners receiving profits

Value Added Tax (VAT):

• Businesses exceeding turnover thresholds
• Voluntary registration available

Miscellaneous Taxable Activities:

• Rental income
• Investment income
• Other business-related income

How to register:

1. Download tax registration form from tax department website or MonGuichet.mc
2. Submit documentation:
   • Completed registration form
   • RCI registration certificate
   • NIS number
   • Business plan and financial projections
   • Proof of domicile
3. Submit to Department of Tax Services:
   • Online: MonGuichet.mc (preferred)
   • In person: Tax office address (contact MonEntreprise for current location)
4. Receive tax registration confirmation (typically 2–3 weeks)

Step 4: Declare Beneficial Owners

What is beneficial owner declaration?

Beneficial owner declaration identifies the individuals who ultimately own, control, or benefit from your business. This requirement applies to all businesses and promotes transparency.

Who must declare beneficial owners?

• All SARL, SAM, SURL companies
• Partnerships (SNC, SCS, SCA)
• Any business with natural persons owning >25% of the business
• EIG members

What information is needed:

For each beneficial owner:

• Full legal name
• Date of birth
• Nationality
• Residential address
• Ownership percentage
• Nature of ownership (direct, indirect, voting rights, etc.)

How to declare:

1. Complete beneficial owner declaration form (available from Monaco Business Office or MonGuichet.mc)
2. Include documentation:
   • Personal identification for each beneficial owner
   • Proof of ownership (share certificates, partnership agreements, etc.)
3. Submit with business registration or as separate declaration
4. Update declaration if ownership changes

Step 5: Register with Social Security (Self-Employed)

Who must register?

• Sole traders
• Self-employed professionals
• Partner-managers of partnerships
• Company managers classified as self-employed

What to register for:

CAMTI (Caisse d'Assurance Maladie Travailleur Indépendant):

• Health insurance for self-employed
• Mandatory for all self-employed individuals

CARTI (Caisse d'Assurance Retraite des Travailleurs Indépendants):

• Retirement insurance
• Mandatory for self-employed

How to register:

1. Contact social security authorities:
   • CAMTI-CARTI Office
   • Contact details available through MonEntreprise.gouv.mc
2. Submit registration form with:
   • Personal identification
   • RCI registration certificate
   • NIS number
   • Tax registration confirmation
3. Set up contribution payment (automatic deduction or direct payment)

Step 6: Register Miscellaneous Taxable Activities (If Applicable)

What are miscellaneous taxable activities?

Non-commercial activities generating income, such as:

• Rental income from property
• Professional practice outside commercial scope
• Investment income
• Franchise operations
• Licensing revenues

How to register:

1. Identify if your activity qualifies as miscellaneous taxable
2. Complete miscellaneous activities registration form
3. Submit with supporting documentation:
   • Activity description
   • Income projections
   • Proof of activity (contracts, leases, etc.)
4. Receive registration confirmation

Documentation Checklist

Before starting the registration process, prepare:

Personal/Company Information:

• Identification documents (ID, passport)
• Company statutes (if applicable)
• Articles of association (if applicable)
• Proof of domicile

Financial Information:

• Business plan
• Financial projections (3-year)
• Estimated annual turnover
• List of founding members/shareholders

Tax Information:

• Principal activity description
• NAF-REV2 activity code
• Estimated number of employees
• Expected tax classification

Beneficial Ownership Information:

• Beneficial owner identification
• Ownership percentages
• Proof of ownership documents

Timeline Overview

Total registration timeline: 2–4 weeks for complete registration (can overlap)

Fees

All registration fees vary by legal form and circumstances. Check monentreprise.gouv.mc for current fee schedules for:

• RCI registration
• NIS assignment (typically free)
• Tax registration (typically free)
• Social security contributions (self-employed)

After Registration

Ongoing Compliance

Once registered, you must maintain:

Annual Requirements:

• Annual accounts filing (companies)
• Tax returns (all businesses)
• Social contributions (self-employed)
• Employment declarations (if employing staff)

Reporting Requirements:

• Update RCI if business details change
• Notify tax authorities of changes
• Update beneficial owner information if ownership changes
• Maintain records for 5+ years

Contact Information

Monaco Business Office (Direction du Développement Économique)

• Address: 9 rue du Gabian, 2e étage, 98000 Monaco
• Phone: (+377) 98 98 84 50
• Hours: 9:30 AM – 5:00 PM, Monday to Friday

MonGuichet.mc

• Website: https://monguichet.mc
• Online procedures and document downloads

Monaco Statistics (IMSEE)

• Website: https://www.imsee.mc
• Phone: (+377) 93 15 80 41

Department of Tax Services

• Website: Check MonEntreprise for current contact details

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