This tiny country, the second smallest in the world, stands out in many different ways and is truly a unique place. A mix of French and Italian and a playground for the rich and famous, but that’s not nearly all.
Monaco counts more policemen per head than any other country in the world, making it a very safe place to live. It also has the highest life expectancy, lowest unemployment rate and virtually no ‘poor’ people. Surprisingly, gambling in Monaco is illegal for citizens, they are not allowed to enter the gambling rooms of the famous Monte Carlo Casino!
Need more reasons to live in Monaco? The weather is excellent year-round, the location is perfect for traveling to other European destinations, the health care system is exceptional and there is no income tax. Monaco is definitely a place where you’ll never, ever get bored.
The best chance of finding a job in Monaco is in the hospitality business or real estate. Monte Carlo SBM, which runs the casino as well as hotels and restaurants, is the country’s largest employer. Many workers live in France and Italy and travel to Monaco every day, doubling the population of almost 39.000.
A foreigner needs a work permit to work in Monaco, which only allows them to work in one specific position. You first need a contract with an employer before you can apply for a permit and the government must authorize a foreigner taking a position.
Monaco is very protective of its jobs and immigrants can only take a position if the Employment Office is unable to select a suitable candidate within a specific amount of time.
- If you are a citizen of a country in the European Economic Area (EEA), you can reside in Monaco.
- If your spouse is a citizen or permanent resident of Monaco, you are probably eligible for residency. If your spouse is a citizen, you can apply for citizenship after being married for a period of 10 years. You need to live in Monaco with your spouse when you apply. Please note that your status of spouse needs to be legally recognised in this country.
- Monaco Residency for non EEA citizens – to gain residency in Monaco, you need to show that you have sufficient savings in your bank account to support yourself (approx. EUR 500,000), and have purchased a property that is big enough for you and your family to live in. This will cost at least an additional EUR 500,000. You also need to prove that you have enough money to support yourself.
To find out if you need a tourist visa to visit Monaco, please use the VisaHQ tool below.
Here are some ways to get citizenship in Monaco:
- If one or both of your parents were citizens of Monaco when you were born, you are probably also a citizen of Monaco.
- If your spouse is a citizen or permanent resident of Monaco, you are probably eligible for residency. If your spouse is a citizen, you can apply for citizenship after being married for a period of 10 years. You need to live in Monaco with your spouse when you apply. Please note that your status of spouse needs to be legally recognised in this country.