Starting a Business in Monaco

Legal Structures

Monaco offers several legal structures to suit different business needs:

Sole Trader	Full control by one individual with unlimited personal liability.
General Partnership	Two or more partners sharing responsibility. Partners' names appear in the company name.
Limited Partnership (SCS)	Active partner (management) and silent partner (investment). The silent partner's liability is limited to their contribution.
SARL	Most common structure. Minimum capital: €15,000 — liability limited to partners' contributions.
SAM / SCA	Higher-capital structures. Minimum capital: €150,000 — incorporation by notarial deed required.
Offshore Company	Allows business activity outside the home jurisdiction for tax optimisation, confidentiality and asset protection.
Branch Office	Foreign companies may open branches in Monaco subject to administrative authorisation and registration with the RCI.

Licensing & Franchising

Monaco encourages intellectual property licensing agreements (exclusive, non-exclusive, patent, trademark) as well as franchise development, providing a favourable framework for commercial expansion and brand development.

Incorporation Costs

Incorporation costs include: registration duties, stamp duty, 1% capital tax, 0.5% on share certificates, notary fees (~0.9% of capital) and publication in the Journal de Monaco.