Why set up a business in Monaco?
Successful business people, sports stars and celebrities choose to live in Monaco. These wealthy residents demand high quality local services, and entrepreneurs are attracted to the Principality to supply them. Here are our top 3 resources for setting up a business.
Established in February 2011, a division of the Direction d'Expansion Economique (DEE). Aims to simplify procedures and reduce delays.
Official Monaco Government pages for setting up companies. The business enterprise section of the website contains all the information you need, most of which has been translated into English.
There are several ways you can work for yourself or set up your own business in the Principality. Generally, you or one of your directors needs to be resident in Monaco. You must submit many documents to the Direction de l'Expansion Economique (DEE), and in most cases, the procedure takes about 3 months. For more information, check the Official Monaco Government website for setting up companies.
The Monaco Venture Capital and Private Equity Association (MVCA) is an organization that supports and develops the venture capital and private equity industry in Monaco. If you're looking for an investor in the Principality, or you're an investor looking for a potential investment, this is the organization to contact.
If you're setting up a website and want to register a .mc domain name, contact the Network Internet Center of Monaco (NIC).
For older entrepreneurs, the Chambre de Developement Economique (CDE) or Monaco Chamber of Commerce helps companies wishing to invest in Monaco. The website contains some statistics about the economy.
There are many associations established in Monaco that help businesses and entrepreneurs to network and share ideas. Here are just a few:
Women: The Association des Femmes Chefs d’Entreprises de Monaco (AFCE) is the Principality's branch of the Femmes Chefs d'Entreprises (FCEM) which was founded in France in the 1945. It's an organisation that brings together women entrepreneurs and business leaders.
Directors: The Institute of Directors Monaco (IoD Monaco) regularly organises lunches and dinners. Membership is open to individuals who are directors.