Malta and Monaco: Two high net-worth residency by investment programs for you to consider
Are you a high net-worth individual looking to relocate overseas? If so, then our topic for today will be sure to grab your attention… In...
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Monaco
Overview
Located on the Mediterranean Sea, with France as its only neighbor, the Principality of Monaco is the second smallest country in the world. Monaco offers a high standard of living, temperate weather, a high level of personal security, a modern and efficient infrastructure, and an absence of income or capital gains tax.
The requirements to become a resident in Monaco are not as strict as commonly thought, but it is nevertheless advisable to employ a consultant or lawyer to handle an application for residence on your behalf.
To become a resident, you must be able to show sufficient means to be able to afford the lifestyle, in particular, the rent and prices for real estate, which are comparable to big capital cities.
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Full investment of €1,000,000. The half in a Monaco Bank and the other half in a property
A very stable real estate market that offers significant opportunities to investors as well as residential property dealers
High confidentiality and multicultural society
Access to a bunch of successful industries
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Investment options:
To become a Monaco permanent resident (and ultimately a citizen), you must meet multiple requirements. First, you must invest a minimum of 1,000,000 euros, of which 500,000 euros must be deposited and kept in a Monaco bank. The other 500,000 euros must be put towards purchasing a property in Monaco. Additionally, you will need evidence that you have sufficient funds (verified by references from your bank). Finally, you must possess a clean criminal record as a prospective investor. After we provide this evidence to the Monaco government, an immigration official will conduct a personal interview with you to determine your eligibility to become a resident of Monaco. Upon approval at the interview stage, you and your family will be granted permanent resident status. As permanent residents, you are eligible to live, work, and travel in Monaco. After ten years, you may apply for citizenship as long as you and your family spend at least six months of every year physically residing in Monaco. Additionally, as a resident, the investor may establish their commercial enterprise in any of Monaco’s economic sectors. The country’s most successful industries include ship management, private banking, financial services, and asset management.
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
yes, after ten years you may apply for citizenship as long as you and your family spend at least 6 months of every year physically residing in Monaco.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example a employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Is Monaco Safe?
Yes, the crime rate in Monaco is lower than in most European countries.
Is dual citizenship accepted in Monaco?
Unfortunately Monaco strictly forbids dual citizenship and any person obtaining a second citizenship automatically loses the original citizenship.
With what currency must the residency programs be paid?
This residency program should be paid in euros.
How strong is the Monaco visa?
The Monegasque passport currently ranks 15th place according to the Guide Passport Ranking Index. It provides visa-free access to 180 countries. This makes it one of the most desirable passports in the world with a very high mobility score.
Can I bring my family in this experience?
Yes. However, the residence card will not be delivered to a minor under the age of 16. A minor under the age of 16 can apply for a “Travel document for minors”.
Can the residence be purchased with an investment in Real Estate?
Yes, there is a very stable real estate market that offers significant opportunities to investors as well as resident property dealers.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Monaco?
Yes, you would have to Travel to Luxembourg (within 90 days of receiving authorization).
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