How do you arrive at that conclusion? Just because you THINK it? He is lives and works in the place ...No tax on his salary...he rents an appartment close to the offices where he works ..he bought a car in Nice then registered it in Monaco so it now has Monaco plates...cos he is a r-e-s-i-d-e-n-t!
And the odds of getting your 1 year residence approved if you are trying to evade taxes on a 100 million dollar hedge fund you have? Slim to none?
Yes he is a resident!!!! You are not listening to me. Monaco doesn't approve every permit!!!! Your brother is a worker who did not move there to evade tens of millions in taxes. That's a huge difference. If your brother were running a 500 million dollar fund, I'm not so sure he would be granted residency that easily. Look wee man, I don't know you from a hole in the wall, but I know 100's of people that would move to Monaco tomorrow if it were that easy. Most of my friends are setting up shop in the UVI because it's too hard to get into Monaco. Understand? Thank you.
In principle, Mav is correct. You must show a deed for residency. That's not to say Wee that your brother's employer wasn't able to use a loophole. Perhaps companies who demonstrate a need to import certain workers get a break......
You dont get it. you have no idea at all regarding the subject is seems. He told me the rent was ââ¬800 per month (size of a shoe box he says) and the owner is some Saudi business man that owns and lets property in Monaco. Some of his colleagues work in Monaco for the tax advantage and commute from Italy because its not that far to travel but the appartment rental is considerably cheaper. He is a single guy and so he chose to live in Monaco and then he applied for and was given residency.
Entry and Residence in Monaco To enter Monaco, or reside there either temporarily or for a considerable length of time, all non-French citizens must follow certain simple procedures: 1. All non-French citizens wishing to visit Monaco for less than three months must possess the same documents that are required to visit France. For U.S. citizens that means a valid passport. 2. Any non-French citizen wishing to stay in Monaco for more than three months must obtain the following documents: - A long-term visa (available from French consular offices in the United States). - A "carte de séjour" or residence permit, which is obtained from the Monégasque police headquarters upon arrival. Applicants will be asked to provide detailed information about themselves, and their immediate familyââ¬â¢s civil status. They will also be asked to show documents concerning their accommodations in the Principality, such as lease agreements or ownership deeds for property. - Applicants also must show proof of employment or professional activity if they intend to work while in Monaco. If they do not intend to work, they must show sufficient financial means of existence without working. 3. Foreigners may apply for temporary residence (a one-year resident permit can be renewed twice, each time for one year). As an ordinary resident (a three-year resident permit which can be renewed twice, each time for three years); or as a privileged resident (valid for ten years, and renewable after administrative inquiry has determined that residence is actual). 4. All non-French citizens wishing to work in Monaco must obtain a "permis de travail" or work permit from the Department of Employment by first showing a residence permit or work contract. The work permit allows an individual to perform only the work for which it was issued.
Sigh...... I can only tell you what is a fact. He works there and lives there albeit he is renting but he didnt get any special help from his firm at all, there was no loophole etc..it took him quite a while to obtain residency but he wasnt in a hurry anyway.