The majority of the residents of the Principality of Monaco are successful celebrities, entrepreneurs, business owners and/or high-level leaders. Most of them own and operate their businesses or family offices in the Principality of Monaco.
The Principality of Monaco offers a diversified and dynamic economy and residents are continuously enjoying the fruits of their activities. Just to give you one example, the business taxation is measured on profit alone. Therefore, if you have a one-person company, called sole trader, and at the end of the year you balance the numbers well, then you can be tax-free.
Despite the obvious financial benefits, it is also beneficial to be part of such an environment since all of Monaco’s efforts are focusing on maintaining the momentum of its economic growth. In the Principality of Monaco one of the priorities and main objectives is to promote new business activities by which Monaco can also attract new residents as well.
When you relocate with your family to Monaco it can be also essential for you to operate your business from the Principality. Many residents establish a family office to handle the family related wealth and assets. It is essential, because once you achieve financial stability and well-being, you deserve to spend more time with your family, instead of the exhausting and long international flights to a foreign country.
Not to mention that every day more than 139 nationalities bring together their experiences and knowledge from all over the world to the small territory of Monaco. It is a unique business society with high profile people, where entrepreneurs focus on results and profits.
The Principality makes this all easy for you thanks to its Monaco Welcome Office, which is an authority to ensure you free advice and guidance for your relocation. It is especially true when you bring a new business to the Principality of Monaco.
Many years ago, I had a great chance to deal with the Monaco Welcome Office, and they very extremely patient with all my “stupid” questions. It was a real client oriented service where I truly felt that they are actually caring about me and my business concept. And unlike any legal advisors or banks, the Monaco Welcome Office offers its help for free of charge.
To this point, if you have a business, it is worth it to consider opening an administration office in the Principality. Just approach the Monaco Welcome Office and they will help you find the most beneficial option for you. It is something that you can highly capitalise on at the end.
The truth is that operating a business in the Principality of Monaco always involved extraordinary benefits and clear reasons/motivations. As I see it, the top three reasons are flexibility, added values and, of course, taxation.
Each one of them are key reasons to relocate your business to Monaco. Utilising these individual benefits can easily improve your business, and you can focus on further developments as well.
It is also very interesting to see how much change has been implemented in the last decade in Monaco, ensuring more and more benefits for those well-established people who are combining the joy of the luxurious quality lifestyle with the business potential that the Principality of Monaco offers.
However, it is important to understand that since 2012, the words “Monaco” and “Monte-Carlo” are trademarked by the “Brands of the State of Monaco”. Therefore, it is not easy to use the word “Monaco” or “Monte-Carlo” in your company, brand or in your product name anymore.