Published at: 12/09/2021 09:54 am
You don't have to invest, only deposit money in the bank to be able to live in one of the most luxurious countries, sorry, principalities in the world!
Wealthy applicants are purchasing passports and investing in advantageous residence permits worldwide from the South Pacific to Europe. Interestingly, the rich nowadays somehow forget Monaco when Monaco is the natural place for wealthy people to settle in Europe.
Monaco is a breathtakingly beautiful principality inside France in the Riviera region of the Mediterranean Sea. The capital city, Monte Carlo, means luxury, worldly wealth, art for everyone and don't forget the legendary Casino.
Monaco is the best country if you want or need to become a European with the right to movement and business. Why? Because Europe is generally considered a tax hell, but Monaco does not tax personal income since 1869.
How much money do you need to become a resident in Monaco?
The requirements to become a resident in Monaco are clear. However, these requirements vary depending on the citizenship of the applicant. You can find the related information on the official migrations portal of the Principality of Monaco.
The basis of the application for the residence permit is that the client is self-sufficient, which means that they have enough money to live in Monaco. Moreover, the applicant must prove that they purchased or rented residential real estate. The number of bedrooms must correspond to the number of applicants. In the case of a family of four, the applicant must show that they bought or rented a flat with at least two bedrooms.
The applicants for the residence permit of Monaco can prove their financial solvency by:
- A salary
- Professional income (it can be freelancer or company owner or employed person, etc.)
- Savings. It is the foremost necessary issue because the applicant must deposit an amount in a local bank in Monaco. The amount depends on the bank. If you wish to know how much you should deposit in a bank for the residence permit of Monaco, then set up a consultation here, and we help you explain all the options.
If you wish to read all details of how to become a resident of Monaco, then click here for the detailed information!