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Whether you're drawn to Monaco’s stunning coastline, prestigious lifestyle, or its renowned status as a hub for business and finance, this small yet prosperous principality has much to offer.
In this guide, we’ll walk you through everything you need to know about relocating to Monaco from a personal tax perspective, including tax residency, income tax, special tax regimes and tax return obligations.
GTC recommend that you organize your affairs in good time to get ahead and make the most of favorable tax treatment while making sure you’re meeting your tax return obligations.
if you spend more than 182 days in Monaco during the tax year.
if your principal interests are located in Monaco during the tax year.
if you spend more days in Monaco in comparison to any other country during the tax year.
if you are a citizen of Hungary unless you have no permanent home in Hungary during the tax year.
if you are a Spain national who relocated to a tax haven less than five years ago.
if your ties are located in Mexico and 50% of your income arising in Mexico during the tax year.
if your main residence is located in Monaco during the tax year.
if you are an EEA citizen and you are present in Hungary on more than 182 days during the tax year.
if you spend more than 182 days in Monaco during the tax year.
if you are registered with the Italian resident population.
if you spend more days in Monaco in comparison to any other country during the tax year.
if you are a citizen of Hungary unless you have no permanent home in Hungary during the tax year.
if your principal interests are located in Monaco during the tax year.
if you are a Spain national who relocated to a tax haven less than five years ago.
if your main residence is located in Monaco during the tax year.
if you are an EEA citizen and you are present in Hungary on more than 182 days during the tax year.
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If you receive incomes overseas while you are living in Monaco, you may find that the source country, as a starting point, continues to tax the income.
Double taxation agreements may remove the source country’s taxing right and thus, enable you to receive incomes tax free globally.
At present, Monaco has 11 double taxation agreements signed.
