Buying a Property in Monaco

Areas Suggested Searches Legal Process Latest Properties

Areas of Monaco

The northwest district of Monaco, it contains the famous exotic gardens.

The newest district of Monaco with a small port.

The central district of Monaco, it includes Port Hercules.

La Rousse is highly desirable with panoramic views of the Mediterranean.

The eastern part of Monaco, home to the white sands of Larvotto beach.

Monte Carlo is the centre of culture and history of Monaco.

Legal Process

The Agent

The estate agent will connect the buyer, the seller and a property, and will take a commission to do so.

The Notaire

The notaire (solicitor) is the Monegasque council which drafts the deed of sale and which brings together the buyer, the seller and possibly the lender for the act of signing the deed.

The notaire generally acts both for the buyer and for the seller. He is responsible for making necessary searches and enquiries such as verifying that the seller has the rights and title deeds, that there are no outstanding mortgages, no planning irregularities etc.

The intervention of the notaire certifies that the deed of sale is a document that is both conclusive and enforceable.

1. Written offer

The buyer usually has to sign an offer to buy. This is drawn up by the estate agent and if accepted, binds the parties. Often, a cheque drawn on a Monaco bank, and representing the security deposit will be attached to the offer, in order to prove the commitment of the buyer. Otherwise, the offer will specify that a bank transfer will be made to the notary's escrow account, within a short period after the offer is accepted.

Subsequently, the purchase takes place in two stages: the signing of a promise of sale drawn up by the notaire followed by the signing of the deed of sale before the notaire. The buyer must undertake to pay a security deposit equal to 10% of the sale price at the signing stage of the promise to sell, amount retained by the notaire and which will be deducted from the sale price at the signing of the deed of sale.

2. Costs and expenses

Generally, on the purchase of goods over 5 years, the costs and expenses will be equivalent to 6% of the purchase price and will have to be paid by the buyer. This 6% includes a registration fee (4.5%) and notary fees (1.5%). This rate is applicable when the purchase is made by individuals or by a Monegasque ICS. The registration fees will be higher (7.5%) when the acquisition is made through a foreign company, to which must be added notary fees of 1.5% thus making a total of 9 %.

In some cases (eg when the property is new or under construction) the registration fee will not apply and the sale price will be subject to value added tax (VAT) at the rate of 20%. The notary fees and a right of transcription will be applicable for a total amount of 2.5%, payable by the buyer, regardless of whether the buyer is an individual or a company.

3. Purchase of a foreign company

If the property is held by a foreign company, the buyer may possibly purchase this structure and in this case the registration fee will be 4.5% on top of the value of the property following the change of the owner of the foreign company.

4. Tax consequences

Monaco does not levy income tax, capital gains tax or wealth tax on individuals. French nationals residing in Monaco nevertheless pay income tax and wealth tax in France in certain circumstances.

The rights of gifting and inheritance rights exist in Monaco, but only on property located in Monaco. The rate of these fees is 0% on provisions in favour of parents, a surviving spouse, children or more distant relatives.

On other provisions, donation and inheritance taxes are payable at rates depending on the degree of relationship between the donor and the recipient. The maximum rate of 16% is applied in the case of provisions to non-parents.

The fee is payable by the recipient.

Latest Properties in Monaco

Wow factor 3 bedroom Apartment for sale with sea view in Monte Carlo, Monte Carlo and Beaches
Ref 252606
Absolutely exceptional 3 bedroom apartment enjoying panoramic sea views from its sought after location near all amenities in the heart of Monte-Carlo. Situated just steps from the casino and in a ...
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Luxury 1 bedroom Apartment for sale with panoramic view in Monaco Port, Port and Exotic Gardens
Ref 252538
Exceptional one bedroom luxury apartment enjoying panoramic views from its South facing location on the Port of Monaco. This superb property is situated on the top floor of the Ruscino building wi...
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Ref 252475
Spacious 2 bedroom apartment in a residence with concierge located in the Jardin Exotique district, featuring a shopping gallery and an outdoor pool. This 155m2 apartment is located on the 12th fl...
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Renovated 1 bedroom Apartment for sale in Larvotto, Monte Carlo and Beaches
Ref 252464
Attractive and centrally situated apartment, close to shops, cafes and commences of Boulevard des Moulins and Larvotto Beach. The first floor apartment has been renovated and consists of an entra...
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Wow factor 5 bedroom Apartment for sale with sea view in Fontvieille, Port and Exotic Gardens
Ref 252432
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Ref 252431
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Ref 252355
Two exceptional adjacent apartments occupy the same floor of one of the most prestigious addresses in Monaco in a prime waterfront location in the Fontvieille district. The luxury high-end residen...
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Pied a terre 1 bedroom Apartment for sale in The Rock, Port and Exotic Gardens
Ref 252280
Ideally located in a peaceful area of the historic district of Monaco Ville, is this very well presented one bedroom Studio apartment. Situated on the Rock, this charming property with a living a...
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Ref 252238
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Luxury 1 bedroom Apartment for sale with sea view in Les Moneghetti, Port and Exotic Gardens
Ref 252219
Absolutely exceptional one bedroom luxury Penthouse apartment with large terrace, enjoying breathtaking sea views from its sought after location in Les Moneghetti. The stunning property is on the ...
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Spacious 2 bedroom Apartment for sale in La Condamine, Port and Exotic Gardens
Ref 252186
Delightful 2-bedroom apartment located on a 2nd floor of a charming, bourgeoise building with elevator, located in the vibrant and historic district of La Condamine, close to all city amenities and...
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Inviting 1 bedroom Apartment for sale in Monte Carlo, Monte Carlo and Beaches
Ref 252149
Nicely presented apartment located in a classic residence in Monte Carlo with access from streets Rue Bel Respiro and Rue Bellevue. The first floor 59m2 property with balconies consists of a livi...
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Ref 252132
Absolutely exceptional 3 bedroom luxurious fully furnished apartment, ideally located near all amenities in Fontvieille. This new property has been beautifully designed and is set on the fourth fl...
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Ref 251975
Desirable second floor studio apartment in a highly sought-after residence, perfectly located between the waterfront and the Casino Terraces, next to the Yacht Club. This lovely renovated studio ...
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2 bedroom Apartment for sale with sea view with Income Potential in Larvotto, Monte Carlo and Beaches
Ref 251958
Ideally located near all amenities in Larvotta and with direct beach access, is this spacious 2 bedroom apartment with Concierge. Set on the first floor in a nice building this property presents a...
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Wow factor 2 bedroom Apartment for sale with sea view in Les Moneghetti, Port and Exotic Gardens
Ref 251853
Enjoying fabulous sea views from its roof terrace is this exceptional 2 bedroom luxury duplex Penthouse apartment with Jacuzzi, ideally located in the Moneghetti district of Monaco., This beauti...
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Prestige 3 bedroom Apartment for sale in Monaco,
Ref 251795
Impressive 3 bedroom apartment in a stylish modern building in a tranquil street in the heart of Condamine, just steps from Port Hercules. The apartment is spacious, contemporary and full of eleg...
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Immaculate 1 bedroom Apartment for sale in Saint Roman, Monte Carlo and Beaches
Ref 251756
Stylishly renovated one bedroom luxury apartment enjoying partial sea views from its sought after location near the beach and all amenities in La Rousse, Saint Roman. This bright and elegant prop...
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Spacious 3 bedroom Apartment for sale with sea view in Jardin Exotique, Port and Exotic Gardens
Ref 251747
Opportunity to acquire 2 adjoining apartments on the 12th floor of a well-served residence with sea view in the district of Jardin Exotique. The residence comes with a concierge, commercial arcad...
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Prestige 2 bedroom Apartment for sale with sea view in Jardin Exotique, Port and Exotic Gardens
Ref 251705
Two bedroom apartment with generous terrace on an upper floor of a residence in the desirable area of Jardin Exotique with panoramic views to the sea. The building features amenities including a...
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