With stunning views, wonderful weather, very low crime rates, and opulent living accommodations, it is possible to realise why someone may wish to relocate to Monaco. Nevertheless, it is far from as simple as packing everything up and relocating to the principality. There are particular aspects to consider, together with documents that must be completed. Let’s take a look at what you need to do if you are planning on moving to Monaco for retirement.
Open Up A Bank Account
Before emigrating, or quickly after your arrival, you need to open a bank account with a Monaco area financial institution and you may have to make an initial deposit of about â¬300,000 to â¬1 million. Once your account has been open for 7 to 10 days, the financial institution will issue you with a message (a bank attestation) that has to be shown to the Surete Publique (Immigration Office) making sure that you’ve got adequate funds to support yourself while residing in Monaco. In the event that you intend to work in Monaco, you should also provide a duplicate of your employment contract. Obviously, this is unlikely to be a problem in case you are intending to retire.
Signing A Lease
When trying to get residency, you must provide proof of a One year rent. Searching for a condo to rent or purchase can be done with the assistance of an estate agent, just like you would if you were looking elsewhere. However, it is important to remember that three months’ rent needs to be paid upfront, along with one more three months’ rent along with a security deposit. Monaco residency is truly a website that is loaded with lots of up to date information on Monaco Residency.
Applying To The Surete Publique
This must be carried out in person. In addition to your bank attestation plus a copy of your signed One year rent, you will have to get the following documents in order to proceed:
- Certified copy of your Birth Certificate
- Valid Passport
- Marriage or Divorce certificates if applicable
- An announcement listing your educational and professional background, together with explanation of how all your possessions have been acquired. It is actually required that this be sent in in French.
- Certificate from your last country of residence validating you’ve had no criminal history for the past five years. A statement attesting to this will be taken from the police force in your past home country.
- Valid health insurance that covers Monaco.
- The electrical energy agreement for your leasing apartment or purchased property.
- Fully finished residency application forms accessible via the Surete Publique. Be aware these forms are only available in French.
The Interview Process
Right after it is verified that you’ve got all of the necessary documents, an interview will be scheduled with one of the officials in the Surete Publique. Your application is going to be processed right after the meeting has taken place. In case you are authorized, a notice from the Surete Publique is going to be sent to the address on your application with guidelines on the way to acquire your Carte de Sejour (residency card). The whole process typically takes around three months to complete. If you are looking for assistance with a move to Monaco, Relocation Monaco have access to a network of English speaking professionals in Monaco including banks, solicitors, accountants, doctors, as well as with the International School of Monaco. Their website is regularly update with specify information such as www.relocation-monaco.com as well as more general information that would be helpful for anyone considering a move to Monaco.
The first card is legitimate for one year. Right after one year is up, it must then be renewed every 3 years. If you live in the country for at least Twelve years, the Surete Publique could deem you qualified for a 10 year card. Otherwise, you are able to continue to renew your 3 year card as and when it is required.
The Carte de Sejour gives you the ability to stay in Monaco for longer than three months, and the requirements state that you need to spend no less than three months of every year in Monaco. In order to be considered for the 10 year card, you have to reside in the country for no less than six months out of the 12 months.
Although it can be a complicated procedure, when accomplished, retiring to this gorgeous country is certain to be a smart decision.