How to do business in the tax free country Monaco
Anyone wishing to carry out a craft commercial industrial or freelance activity in the Principality of Monaco must first be authorized by the minister of State.
Nationals can however exercise the business, except some regulated activities, by issuing a simple declaration to the government of Monaco, and after issuing a receipt.
In order to obtain authorization to carry out certain activities, mainly financial, banking and credit institutions, insurance, legal and accounting, real estate, medical, paramedical and pharmaceutical, there are specific conditions and rules which must be respected and things like the following could be taken into account: entrepreneurs nationality, diplomas, experiences, company form, amount of shared capital.
After the release of the authorization or receipt of the monegasque declaration, the person's concerned must
1. fulfill publicity formalities at the court chancellery and in the journal de Monaco too,
2. register the company in the trade and industry register,
3. register the company with the monegasque institute of statistics and economic studies, and
4. declare the activity at the directorate of tax services.
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