The Principality offers multiple business formation possibilities from a one person sole-trader to a multi-million Euro company. You can easily find a solution for every size of business, and the Monaco Welcome Office will gladly advise you for free regarding the possibilities and the involved benefits they offer.
People typically like formations such as “sole trader”. These businesses are typically run by a single person. Due to the importance of the privacy in the Principality, owners have the chance to choose a trading name instead of publishing their own name. For example, if Mr. James Bond registers a one-person company, he can advertise it as Global Spy Agency Monaco. It is a relatively efficient way to utilise the Monaco address.
A little over ten years ago, the Principality granted the possibility to create limited liability companies, which Monaco calls S.A.R.L. (Société à Responsabilité Limitée). It is very interesting to see the economic boost effect of this change. A SARL is formed between two or more people with limited liability to the amount of their capital investment. There is a fixed minimum capital investment of 15,000 euros, which must be released to a bank account at a Monaco-based bank, opened for this purpose.
This was an important strategic step, because before the Société à Responsabilité Limitée existed, you could only form corporate entities with full legal liability. Now days the S.A.R.L. represents one of the greatest benefit for new businesses.
The Principality also offers administrative offices and branches for foreign companies. Administrative offices are established by companies whose registered office is not in Monaco. Usually the sole purpose of this kind of set-up is for management, coordination, or supervision activity. They are perfect solutions for those residents who are not ready, or physically cannot relocate their businesses. These administrative office entities specifically help wealthy foreign business owners and residents.
It is also considered a great benefit that during the first two years, you have the possibility to operate your business venture from your home apartment, if your landlord accepts it. Usually these properties are labelled as Mixed Usage (Usage Mixte), which basically means that the landlord agrees and acknowledges that a company will be performing in the apartment. It is flexible and it ensures you the necessary timeframe to adjust your business to the local needs before you would invest into a new office. Therefore, many family-owned companies prefer this type of solution.
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