Companies and trusts in Monaco | Monaco tax haven
As we said before today, people in Monaco pay no taxes.
With the exception of French citizens in certain cases.
But the same cannot be said for companies.
In theory, companies established in Monaco pay taxes on profits, with variable rates under certain conditions.
But still more than 20 percent.
The good news is that there are a lot of exceptions.
And many entrepreneurs fall into them.
And they end up paying no tax.
For example, exemption is provided for those who do not carry out certain commercial activities.
And there could be extremes to exclude from taxation those who work remotely.
But this has to be verified on a case-by-case basis.
There are also exceptions regarding non-resident entities.
The residence will be determined considering the residence of the shareholders and administrators.
And also considering where the board meetings take place.
There are several additional exceptions.
Monaco is very popular for establishing the location of the administrative offices of foreign companies.
Those who perform management, coordination or control functions for the exclusive benefit of their group.
If you have a company and you hire staff, there are various costs involved.
For example, insurance and social security.
Finally, it should be noted that Monaco allows the use of trusts.
However, usually these can only be established by Monaco residents.
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