Obtain a business authorisation and form a company in Monaco
Start a business in Monaco, where any commercial activity needs prior government authorisation on top of forming a company. The common vehicles are the SARL (EUR 15,000 capital) and the SAM (EUR 150,000 capital), and both must open a Monaco bank account.
- Timeline
- Typically 2-4 months, driven by the authorisation review
- Cost
- Share capital (EUR 15,000 SARL / EUR 150,000 SAM) plus notary, registration and administrative fees
- Steps
- 6 stages
Deadline — read this first
The activity may not begin until the authorisation is granted and the company is registered.
Who can file
Entrepreneurs and companies; the activity and the people behind it are screened by the government.
Step by step
- 1
Define the activity and legal form
Decide the precise activity and whether to trade as a sole trader, a SARL or a SAM, as the authorisation is tied to the defined activity.
- 2
Prepare the application and business plan
Compile the authorisation request with a business plan, details of the principals and their qualifications, and the intended premises.
- 3
Reserve premises in Monaco
Secure commercial premises, as a genuine local establishment is generally expected for authorisation.
- 4
Form the company before a notary (SAM/SARL)
For a SAM or SARL, execute the statutes before a notary and pay in the minimum capital (EUR 150,000 or EUR 15,000) into a Monaco bank account.
- 5
Obtain the government authorisation
The Business Development Agency reviews the application; a SAM also requires sovereign approval by ministerial order.
- 6
Register and set up tax and social security
Register in the Trade and Industry Registry (RCI), and set up VAT, any business profits tax and social-insurance registrations.
Documents you must produce
- Authorisation request and business plan
- Identification and qualifications of the principals
- Company statutes (notarised for SAM/SARL)
- Proof of paid-in capital in a Monaco bank
- Lease or title for commercial premises
Common mistakes that sink cases
- Starting to trade before the authorisation is granted.
- An activity or principals that do not pass the government's screening.
- Lacking genuine premises and substance in Monaco.
- Underestimating the SAM's EUR 150,000 capital and its sovereign-approval step.
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