Starting a business in Monaco: company types, process and key steps
How to start a business in Monaco: legal structures, the registration process, key institutions and what to expect.
Key facts
- Main company types
- SAM, SARL, SNC, sole proprietorship
- Corporate tax
- 25% (if >25% revenue outside Monaco)
- Key authority
- Direction du Developpement Economique
- Minimum share capital (SAM)
- 150,000 EUR
- Minimum share capital (SARL)
- 15,000 EUR
Doing business in Monaco
Monaco is a well-established business centre with a stable legal framework, a favourable tax environment and excellent international connectivity. The Principality actively encourages entrepreneurship and foreign investment, though the process is more regulated than in some jurisdictions.
All business activities in Monaco require prior governmental authorisation. This means that, unlike many countries, you cannot simply register a company online and begin trading. Each application is reviewed individually.
Company types
The most common legal structures in Monaco are:
- SAM (Societe Anonyme Monegasque): similar to a public limited company. Requires a minimum share capital of 150,000 EUR and at least two shareholders.
- SARL (Societe a Responsabilite Limitee): the equivalent of a limited liability company. Minimum share capital of 15,000 EUR. This is the most popular choice for small and medium businesses.
- SNC (Societe en Nom Collectif): a general partnership with unlimited liability for partners.
- Sole proprietorship: for individuals carrying out a trade or profession independently.
The registration process
Setting up a company in Monaco generally follows these steps:
- Initial consultation with the Direction du Developpement Economique to discuss your project
- Prepare your application, including a detailed business plan, proof of qualifications (if applicable), identity documents and proof of financial standing
- Find a business premises in Monaco (a registered address is mandatory)
- Submit your application to the government for authorisation
- Government review: the application is examined, and authorisation is granted via a ministerial decree
- Registration: once authorised, the company is registered in the commercial registry (RCI)
The entire process requires patience. Government approval can take several weeks, and it is strongly recommended to work with a local lawyer or advisor who is experienced in Monegasque company law.
Key institutions
- Direction du Developpement Economique: the first point of contact for prospective business owners
- Registre du Commerce et de l'Industrie (RCI): the commercial register
- Caisses Sociales de Monaco: for employer social security registration
- Direction des Services Fiscaux: for tax-related matters
Frequently asked questions
The information provided is for general guidance only. For official procedures, always consult the official sources.
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