Open a banking accountPrior to emigrating, or very soon after your arrival, you have to open a bank account with a Monaco area financial institution and you may need to make an initial deposit of anywhere from €300,000 to €1 million. When your account has been open for 7 to 10 days, your bank will certainly issue you with a notice (a bank attestation) which must be given to the Surete Publique (Immigration Office) confirming that you've got enough funds to support yourself while residing in Monaco. When you intend to work in Monaco, you should also provide a copy of your employment agreement. Naturally, that is unlikely to be a problem should you be intending to retire.
Signing a leaseWhen looking for residency, you need to bring proof of a One year rent. Trying to find an apartment to rent or purchase can be achieved with the aid of an estate agent, just as you would if you were looking somewhere else. Even so, it is essential to bear in mind that three months' rent needs to be paid upfront, along with another three months' rent and a security deposit.
Applying to the Surete PubliqueThis must be done in person. Along with your bank attestation plus a duplicate of your approved 12 month lease, you will have to hold the following documents to be able to carry on:
- Certified duplicate of your Birth Certificate
- Valid Passport
- Matrimony or Separation certificates if applicable
- An announcement listing your educational and professional background, together with explanation of how all of your belongings have been acquired. It is actually necessary that this be sent in in French.
- Certificate from the last country of residence validating you have didn't have criminal history for the last five years. A statement attesting to this can be obtained from the police force within your past home country.
- Valid medical insurance that includes Monaco.
- The electricity contract for your leasing apartment or bought property.
- Fully completed residency application forms available through the Surete Publique. Be aware these forms are available in French.
The first card is lawful for just one year. Right after twelve months expires, it should then be renewed every three years. If you live in the country for at least 12 years, the Surete Publique might consider you entitled to a ten year card. Otherwise, you are able to consistently renew your 3 year card when it's needed.
The Carte de Sejour provides the right to remain in Monaco for more than 3 months, and the specifications stipulate that you must spend no less than 3 months of every year in Monaco. To be considered for a 10 year card, you have to reside in the country for no less than 6 months out of the 12 months.
Although it may be a difficult procedure, when done, going to this gorgeous country is certain to be a wise decision.