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by Zsolt Szemerszky

Zsolt Szemerszky

Taxation in Monaco

Taxation in Monaco

Luckily Monaco’s tax regime is built on some extremely supportive pillars however and despite the common belief Monaco is not an offshore jurisdiction, but Monaco also offers anonymous taxation.

Despite the common belief Monaco is not an offshore jurisdiction.

The Principality’s main source of income is the value added tax (VAT), which is paid on goods and services in the usual way. The main attribute of Monaco’s fiscal policies is the total absence of direct taxation for Monégasque residents as there is no income tax, capital gains tax or wealth tax.

As a new business owner you have the possibility to start and build up your business without interfering with any taxation issues. During the first two years of business operation your company is tax free, which can highly support the establishment and improvement of your business.

Monaco also offers anonymous taxation. If you are investing in Monaco and you are not maintaining a residency there, since you are not staying for more than six months a year, you are probably obliged to pay tax based on your actual residency.

In Monaco you will find banks that are ready to help you in the taxation issues without disclosing your actual wealth held in the Principality to your country of origin.

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