The principality of Monaco, also referred to as Monte Carlo, is located in the French Riviera and is the second smallest country in the world.
The major district is home to an elegant casino and the beautiful Salle Garnier opera house. The country enjoys a Mediterranean coastline, sharing its other three borders with France, with a direct rail link to Paris.
Residents enjoy one of the highest standards of living, and the famous marina is home to many super yachts.
In 2014, around 30% of the population were millionaires, and Monaco is home to more billionaires per capita than anywhere else in the world.
Monaco is governed by a constitutional monarchy, with Prince Albert II as an active head of state, and although not a member of the EU, maintains close links with France.
Due to its convenient location and transport links the country is easily-accessible to the business community.
One of Monaco's main sources of income is tourism, with many visitors being attracted to its casino and pleasant climate.
It is a major banking centre, with specialism in private banking, and asset and wealth management services. An initial renewable residency visa is granted for 3 years, and once an investor has lived in Monaco for 10 consecutive years an application for citizenship can be made.
No purchase of real estate is required per se, but the applicant must have suitable accommodation available.
Rental of a property must show a commitment to a lease for at least 12 months with sufficient living space for all parties of the application.
A purchase of a residential property with a purchase price of at least 500,000 EUR.
Investment of at least 1,000,000 EUR, with 500,000 EUR or more to be held in a Monaco bank.
Note – An applicant must also have employment in Monaco or evidence that they have adequate means of support without working, typically over 1,000,000 EUR in a bank in Monaco.
No additional contributions are required.
The initial 500,000 EUR investment must be retained for the period of residency.