Setting up a business or taking over an existing firm is challenging and requires careful preparation and support from competent advisors.
Obviously you can contact many independent advisors who will be ready to help you during the process, but take into consideration that their services are not free.
Once you contact the Monaco Welcome & Business Office you are entitled to get free advice and guidance from the exact same place where your application will be decided. Therefore it is always recommended to contact the Monaco Welcome & Business Office first to avoid unnecessary circles and high advisement fees.
The business section of the Prince’s Government’s Public Service offers assistance and advice to those setting up or taking over businesses, to help them achieve success.
Entrepreneurs need to be made aware of the conditions for entering and remaining in Monaco, how to set up a business, taxation, social security legislation and any State aid available.
The Principality offers you the possibility to operate your business from your home during the first two years. In some cases it is worth to consider it.
You also need to understand the official procedures to be followed during the course of the business’ existence, as well as their obligations. Key agreements relating to goodwill are also discussed.
First and foremost, entrepreneurs must be aware of the fundamental rule governing business relocation to Monaco – the fact that a licence must be obtained before initiating business activities.
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Business formation / operation