Monaco residency

Discussion in 'Professional Trading' started by jackson1234, Mar 25, 2007.

  1. Has anyone looked into this from the point of view of an independent trader?

    Assuming:
    - non EU, non-USA citizen
    - annual income in 7 figures

    I'm wondering how hard it would be to get a residency permit, given that I would need permission to carry on as a self-employed trader.
     
  2. Daal

    Daal

    I heard it should cost around 1m to settle there
     
  3. Maverick74

    Maverick74

    My understanding is, to get residency there, you need to own property. Well, let's do some math. There is very little property there, demand is through the roof, so you should expect to pay over 7 figures for what will be the equivalent of a small one bedroom condo. You will probably pay substantially more per sq foot then the same place in London. So in other words, the benefits are great but the barrier cost is very high.
     
  4. If you're truly a trader making seven figures then you can afford to live in Monaco. It takes a million for a studio in a nice hi-rise.
    Condo's under 3/4 a million are dumps. A nice 2bd with view can be 3mil without a prob.

    Andorra is the WAY cheaper option......
     
  5. marketsurfer

    marketsurfer Sponsor

    hey pabst,

    do you have experience in Andorra?

    thanks,

    surf
     
  6. Dubai would be an option that ends up being a lot cheaper for the same tax benefit. Lifestyle however would differ greatly between Monaco and Dubai I assume.
     
  7. 2006

    2006

    Dubai?

    I'd rather shoot myself before living anywhere in the middle east.
     
  8. virgin

    virgin

    You also can get a 1 year residence permit instead of a permanent one .
    You will need to be able to prove with a bank statement from a bank in Monaco that you have deposited around 120000 €
     
  9. romik

    romik

    What is your citizenship? UK is a tax heaven providing you will eventually return to your domicile, if you can get residency here that is.
     
  10. andread

    andread