Moving to Monaco after Brexit
Many wealthy people consider Moving to Monaco to take advantage of its tax haven status and idyllic lifestyle on the Mediterranean coast with a front row seat for the F1 Grand Prix. But Has Moving to Monaco after Brexit changed anything?
Moving to Monaco after Brexit
The Advance Moves relocation team have put together a few basic facts about Moving to Monaco after Brexit and how to gain residency as quickly and easily as possible.
Open a bank account in Monaco
One of the first criteria is to open a bank account in Monaco. The banks in Monaco require between € 500,000- € 1million, or more to open the account. Once the account is open and money has arrived, the bank will issue an attestation, or letter, which confirms that your account is open and that you have sufficient funds to support yourself/your family whilst resident in Monaco. If you have an employment contract with a Monaco company then you do not require this letter, but you will still need to open a bank account for your salary to be paid into. The minimum deposit amount in this instance is lower.
Buy or rent a property in Monaco
Then you will need to find a house or apartment to rent or buy in Monaco. Monaco is split into four quarters and the area of Monte Carlo is one of them where the famous casino lies. Wherever you decide to base yourself the rental lease must be for at least 12 months. Once you have found your rental property (or purchase) and signed the lease or act of purchase for the property, You can then request a date for the official residency interview with the residents section of the Monaco Public security offices. This will take approximately three weeks.
The interview for Moving to Monaco after Brexit
At the interview you will be required to provide the following documents for each person applying for residency over the age of 16 years:
- Valid passport
- Birth Certificate
- Marriage certificate if appropriate
- Any previous divorce orders (if appropriate)
- The lease for the rental apartment in Monaco, or act of Purchase
- The new Electricity contract for the rental/purchased property in Monaco
- The Monaco bank attestation letter
- A CV style summary of your personal and professional status/history detailing place of birth, education, work history and current business activity if any
- A police certificate stating you have No Criminal Record issued by the Police in the country where you have resided for the previous 5 years. This can be obtained either online or directly from the police in your country of current residence.
After the interview
Once the interview is complete and all the above documents lodged, it will take approximately eight weeks for the Monaco residency card (Carte de Resident) to be issued for an EU passport holder. Generally if all of the above is in order then residency is granted.
Non EU passport holders
For a non EU passport holder, the Monaco residency application procedure is slightly different and takes between 5-7 months to complete.
Monaco Residency card renewal
The initial card is valid for one year, and this will need to be renewed each year for the first three years, then every three years and if you reside in Monaco after this, you may be considered for the privileged card which is valid for ten years. You are required to spend a minimum of three months each year for the one and three year cards and six months minimum for the ten year card.
Moving to Monaco
Once your residency status is sorted it is then time to plan your move to Monaco and that’s where the team at Advance Moves International removals can help you. They have a very quick and easy system to help you obtain a quotation for your move to Monte Carlo.
Instant online quotes for Moving to Monaco
Use their unique online instant removals quotation generator to enter some basic information about your removal to Monaco and you will instantly obtain a quotation for your move that is then backed up by up to 5 more accurate removal quotations from some of our trusted movers that can cover your removal requirements to Monaco.
Moving anywhere else? Advance moves can cover it.
Advance moves doesn’t just cover Moving to Monaco, they have agents all over Europe and the world able to undertake a high quality move, big or small to any destination you require. Once again just select the countries you want to move from and to on the advance moves quick quote system and obtain your instant online removal quote. It’s that easy.
Check out the rest of the advance moves site for more information on International removals.