Monaco

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Overview

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Identifiers

Collect two identifiers from each business customer in Monaco and submit them as strings on the application body. Tax ID: Monaco applies VAT under the Franco-Monegasque Customs Union Agreement of 1963; the VAT framework mirrors France’s. Companies conducting taxable transactions obtain an intra-community VAT number with the FR prefix (format: FR + 2-character check key + SIREN-like 9-digit fiscal number) issued by the Direction des Services Fiscaux on application. Entities below the taxable-supply threshold receive a NIS statistical number (from IMSEE) but no separate VAT certificate. For all administrative procedures the Statistical Identification Number (NIS) issued by IMSEE — composed of a NAF activity code plus a unique sequential number — serves as the primary administrative cross-reference. No separate corporate income tax registration number exists: Monaco levies no personal income tax and the corporate profits tax (impôt sur les bénéfices) applies only to companies deriving more than 25% of their turnover from outside Monaco. Registration number: Unique registration number assigned at inscription in the Répertoire du Commerce et de l’Industrie (RCI) under Act no. 721 of 27 December 1961. Format: two-digit year + one letter (P for natural person / sole trader; S for company or foreign branch) + five-digit sequential number, e.g. 03S04700. Appears on the RCI extract (extrait RCI) and all official filings. SAMs additionally require a prior Ministerial Order (Arrêté Ministériel) approving the statutes, published in the Journal de Monaco.

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Sector regulators

CCAF (Commission de Contrôle des Activités Financières) · AMSF (Autorité Monégasque de Sécurité Financière) · ACPR (France — credit institutions) · AMF France (mutual fund oversight under 1963 agreement) · Direction des Services Fiscaux

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Legal structures

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How documents combine

For each evidence area, this table shows whether the listed documents are alternatives (any one of) or a bundle (all required). The artifact-by-artifact lookup follows below.

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Documents to collect

The physical documents you’ll collect from your customer, with the evidence area each one proves. One document can prove multiple areas — for example, Brazil’s Cartão CNPJ covers both tax and business-registration proof, so it appears once with both areas listed.

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Collection notes

• Legal Registration: Issued by the Direction du Développement Économique; digitally certified and available 24/7 online at teleservice.gouv.mc/rci/. Costs €15 per extract. Valid for approximately 3 months; most banks and administrative bodies require a fresh extract. Contains registration number, legal form, company name (raison sociale), registered office, share capital, business purpose, directors/gérants, and registration date. For SAMs, the enabling Arrêté Ministériel published in the Journal de Monaco is the original authorisation instrument; the RCI extract reflects subsequent standing. Registered on creation and updated on event-driven filings.
• Constitutive Documents: For SAMs and SCAs: statutes must be executed as an official notarial deed (acte authentique) before a Monégasque notary; the enabling Arrêté Ministériel approving the statutes is published in the Journal de Monaco before RCI registration. For SARLs and SURLs: statutes may be by private deed (acte sous seing privé); two original copies registered with the Direction des Services Fiscaux. For SNCs and SCSs: private deed permissible. Always request the latest consolidated version to capture any amendments (modifications) filed with the RCI.
• Tax Registration: Monaco applies VAT under the Franco-Monegasque customs union (1963 treaty); the Direction des Services Fiscaux issues intra-community VAT numbers with the FR prefix. Entities below the taxable-supply threshold do not receive a TVA certificate; collect the NIS certificate from IMSEE as the primary administrative identifier in those cases. Where the entity is not VAT-registered (e.g. property-holding civil companies), an attestation from the Direction des Services Fiscaux confirming fiscal registration under article 66 of the Turnover Tax Code serves as the tax registration evidence.
• Operating Permit: Required by all businesses before commencing any economic activity in Monaco, whether commercial, industrial, craft, services, or professional, under Law no. 1.144 of 26 July 1991 (as amended). The Direction du Développement Économique processes the application; authorisation is issued by Arrêté Ministériel (ministerial order) of the Minister of State, typically within 3 months of application. For SAMs the authorisation also approves and publishes the statutes. The authorisation must be obtained before RCI registration and before commencing operations. It specifies the authorised activities and the legal representative. Note: the Direction de l’Expansion Économique was renamed Direction du Développement Économique; both names appear on legacy documents.
• Sector-Specific License: Financial activities are dual-regulated: the CCAF (Commission de Contrôle des Activités Financières, established by Law no. 1.338 of 7 September 2007) authorises investment service providers, portfolio managers, multi-family offices, and mutual fund corporations. Credit institutions additionally require authorisation from France’s ACPR under the Franco-Monegasque banking arrangements. The AMSF (Autorité Monégasque de Sécurité Financière, which replaced SICCFIN in July 2023 as Monaco’s independent FIU) supervises payment institutions, electronic money institutions (EMIs), gambling/gaming operators, money-changers, and all AML-obliged entities under Law no. 1.549. The AMAF (Association Monégasque des Activités Financières) provides industry self-regulatory functions. CCAF and AMSF signed a formal cooperation agreement on 13 February 2026.
• Governance Records: The RCI extract lists current gérants (SARL/SURL), members of the conseil d’administration and authorised signatories (SAM/SCA), and partners/gérants commandités (SNC/SCS). Changes to directors or gérants must be filed with the RCI and updated in the register. There is no separate government-issued directors’ register; the RCI extract is the authoritative source for current management.
• Signing Authority: For SAMs: a résolution du conseil d’administration (board resolution) authorising the signatory to act on behalf of the company. For SARLs/SURLs: a résolution de gérance (gérant’s resolution) or shareholder decision (décision des associés). For external mandataries: a procuration (notarised POA). Monaco is a party to the Hague Apostille Convention (in force since 4 December 2002); documents intended for cross-border use may be apostilled by the Direction des Services Judiciaires. No common seal requirement.
• Address: Conduit universal policy: lease (no time bound) OR utility bill OR bank statement, with utility/bank dated within 90 days. Same evidence satisfies both registered-address and operating-address checks. Monaco utility providers include the Société Monégasque de l’Électricité et du Gaz (SMEG) for electricity/gas and Direction de l’Eau et de l’Assainissement for water; SMEG bills are the most common utility proof.
• Good Standing: Monaco is a subsumed-by-extract jurisdiction: a dated Extrait RCI (valid approximately 3 months, obtainable via teleservice.gouv.mc/rci/ for €15) is the live registry source of truth for entity status, directors, and registered details, and serves the certificate-of-good-standing function. No separate certificate of good standing is issued by the RCI or any Monégasque authority. Collect the Extrait RCI under business_registration.

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Person roles

When you submit a person on the application body, set their role to one of Conduit’s canonical BusinessPersonRole values. Use this table to map a local corporate-governance title onto the right canonical role.

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Notes

• Government authorisation is mandatory before commencing any economic activity in Monaco (Law no. 1.144 of 26 July 1991). The Direction du Développement Économique (formerly Direction de l’Expansion Économique) reviews applications; the Minister of State issues the authorisation by Arrêté Ministériel. Allow up to 3 months for processing. Both names for the agency appear on legacy documents.
• SAM formation requires a notarised deed before a Monégasque notary AND a prior Arrêté Ministériel approving the statutes and published in the Journal de Monaco. This means every SAM can be verified via the Journal de Monaco archive (journaldemonaco.gouv.mc). The enabling Arrêté is a useful additional text anchor for OCR classification.
• Law no. 1.573 of 8 April 2025 (modernisation of company law) introduced the SURL and the Société Civile de Moyens, reduced the SARL minimum capital to €8,000 for single natural-person shareholders, and modernised SAM and SCA governance (separated Chair/CEO, videoconference meetings, no mandatory director-shareholder requirement for SAMs). SAM/SCA provisions entered into force no later than 30 September 2025. The SARL provisions entered into force on 19 April 2025.
• Monaco’s TVA (VAT) system operates under the 1963 Franco-Monégasque customs union: Monaco uses French VAT law, VAT numbers carry the FR prefix, and are verifiable on VIES. However, Monaco is NOT an EU member state and is not part of the EU customs territory or single market — do not treat Monégasque entities as EU-domiciled for regulatory or sanctions-screening purposes.
• The CCAF and AMSF are distinct authorities: CCAF (Law no. 1.338 of 2007) handles investment services, portfolio management, and fund approval; AMSF (successor to SICCFIN, independent from July 2023) is the AML/CFT FIU and supervises payment institutions, EMIs, gambling, and money-services businesses. Both must be checked when onboarding Monégasque financial-sector entities. A CCAF–AMSF cooperation agreement was signed 13 February 2026.
• Civil companies (Sociétés Civiles — SCI, SCM) are registered in a separate special register of non-trading companies, NOT in the commercial RCI. Their extract is labelled differently; ensure the correct register is queried during onboarding.
• Dual-language context: official documents are in French; Monaco has no second official language. English translations may accompany documents for international use but carry no official standing unless certified.