Monaco Geography, Economy, and Culture

Considered the second smallest country in the world, Monaco is situated on the French Riviera, off the Mediterranean coast. The official language is French, although Monégasque, English, and Italian are spoken and understood by most of its people. The country has only about 40,000 residents and is considered to be one of the most expensive and wealthiest countries in the world.

With an advantageous tax regime (which does not levy personal income taxes on its residents), Monaco is a tax haven for the wealthy who are drawn to its banking system which closely guards its clients’ privacy. Its capital, Montecarlo, is known for its casinos and its government is a constitutional monarchy, currently ruled by the Grimaldi family. The monarchy is perhaps best known for Prince Rainier III having married famous American actress, Grace Kelly, in the 1950s.

2021
April 5Easter Monday
May 1Labour Day/May Day
May 13Ascension Day
May 24Whit Monday
June 3Corpus Christi
August 15Assumption of Mary
August 16Assumption of Mary observed
November 1All Saints’ Day
November 19National Day
December 8Feast of the Immaculate Conception
December 25Christmas Day
  • SAM (Société Anonyme Monégasque)
  • SARL (Société à Responsabilité Limitée)
  • SNC (Societe en Nom Collectif)
  • SCS (Societe En Commandite Simple)
  • SCA (Société en Commandite par Actions)
  • Sole Trader
  • Corporate Tax: 28%
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 0%
  • VAT/GST/Sales Tax: 5.5% (lowest rate), 19.6% (highest rate)
  • Barclays bank plc monaco
  • Credit Foncier de Monaco
  • Bank Julius Baer (Monaco) S.A.M.
  • UBS (Monaco)
  • SG Private Banking (Monaco)
  • Credit Suisse (Monaco)
  • EFG Eurofinancière d’Investissements
  • Compagnie Monégasque de Banque
  • Banque de Gestion Edmond de Rothschild – Monaco
  • BNP Paribas Private Bank Monaco
  • HSBC Private Bank (Monaco)
  • Union Bancaire Privée
  • Banque J. Safra (Monaco)
  • Banque Havilland
  • BSI Monaco
  • Crédit Mobilier de Monaco
  • Fortis Banque Monaco
  • ING Bank (Monaco)
  • KB Luxembourg (Monaco)
  • Martin Maurel Sella – Banque Privée-Monaco
  • Monte Paschi Monaco

Aadmi can support you with your expansion to Monaco. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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