Living in Monaco: Daily Life Guide
Practical guide to daily life in Monaco: neighbourhoods, cost of living, transport, healthcare, schools, and settling-in essentials.
Key facts
- Area
- 2.02 km²
- Population
- ~39,000 residents
- Nationalities
- Over 140 represented
- Official language
- French
- Currency
- Euro (€)
- Income tax
- None for residents (except French nationals)
Why live in Monaco?
Monaco offers a genuinely distinctive quality of life: exceptional safety, a Mediterranean climate, world-class infrastructure, and a cosmopolitan environment. The Principality has one of the lowest crime rates in the world, maintained by a dense surveillance network and a high ratio of police to residents.
The absence of personal income tax (except for French nationals) is a significant financial advantage. There is also no property tax, no residence tax and no wealth tax. Succession duty does exist, but it is charged at 0% in the direct line and applies only to assets situated in Monaco — see the wealth planning guide.
Settling in
Getting your residence permit
The carte de résident is the essential document. Main requirements:
- Accommodation: a signed lease or proof of property ownership in Monaco
- Criminal record: a clean extract from your country of origin
- Financial resources: a minimum deposit in a Monegasque bank account (amount depends on your situation)
- Health cover: enrolment with the CCSS (Caisses Sociales de Monaco) or equivalent private cover
Applications are submitted to the Direction de la Sûreté Publique (residence permits section). See the full process in the carte de séjour guide.
Opening a bank account
A Monegasque bank account is required as part of the residency application. Monaco has several private and commercial banks. The main ones include Barclays Monaco, CMB (Compagnie Monégasque de Banque), CFM (Crédit Foncier de Monaco), and Société Générale Private Banking Monaco. See the bank account guide for the full process.
Registering with CCSS
The Caisses Sociales de Monaco manage Monaco's social security system. Enrolment is compulsory for employees and available to non-employed residents under certain conditions.
Cost of living
Monaco is among the most expensive places to live in the world. Key expenses:
- Rent: a studio costs roughly €3,000–5,000/month; a one-bedroom €5,000–10,000/month depending on the neighbourhood
- Property purchase: average prices exceed €50,000/m² (source: IMSEE 2025)
- Food: supermarkets such as Carrefour and Casino are available, but prices are higher than in France
- Restaurants: a meal at a mid-range restaurant costs €25–50 per person
- Transport: the CAM bus network is very affordable (around €1.50 per trip) and covers the entire Principality
The neighbourhoods
Monaco is divided into several distinct areas:
- Monte-Carlo: the most famous district, home to the Casino, luxury hotels, and high-end boutiques
- La Condamine: a lively area around Port Hercule, with the covered market and numerous shops
- Monaco-Ville (Le Rocher): the historic centre, home to the Prince's Palace and the Cathedral
- Fontvieille: a modern district built on reclaimed land, with the shopping centre, stadium, and green spaces
- Larvotto: the beach district, with the public beach
- Les Moulins: a quiet residential area
- Moneghetti / Jardin Exotique: set at altitude with panoramic views
Daily life
Education
Monaco has a free public school system and several private and international schools. The International School of Monaco (ISM) provides English-language education. Public secondary schools follow the French national curriculum. See the school system guide for full details.
Healthcare
The Centre Hospitalier Princesse Grace (CHPG) is the main hospital. Monaco's healthcare system is of very high quality. Residents affiliated with the CCSS receive reimbursement for medical costs. Read more in the healthcare guide.
Transport
The Principality is entirely walkable or reachable by bus (the CAM network). Numerous public lifts and escalators make navigating Monaco's hilly terrain easy. The Monapass app allows you to manage journeys and parking digitally. See the public transport guide.
Safety
Monaco is considered one of the safest cities in the world, with around one police officer for every 60 residents and a surveillance network covering the entire territory.
Official sources
Frequently asked questions
The information provided is for general guidance only. For official procedures, always consult the official sources.
Related pages
See all guidesLiving in Beausoleil and commuting to Monaco
A practical guide to living in Beausoleil or nearby French towns while working in Monaco: border crossings, transport, costs and what to expect.
Registering with Your Consulate in Monaco
Guide to consular registration for foreign nationals living in Monaco, including requirements and benefits.
Your First Month In Monaco - Essential Setup And Integration
your first month in Monaco covering arrival logistics, registration, banking, healthcare, and community integration
Getting to Monaco: airport transfers, train, car and helicopter
How to get to Monaco from Nice airport and beyond: by car, train, helicopter and bus. A practical access guide for visitors and new residents.