Company Formation Monaco
Monaco is one of the most prestigious and status world jurisdictions, and a huge number of people seek to live and work here. The Mediterranean climate, picturesque nature, the highest economic and social level, and a sparing tax policy make the principality very attractive for businessmen. If you are among the interested businessmen who intend to start doing business in this jurisdiction, establishing your business presence here is possible in one of these registration forms.
WHY REGISTER A COMPANY IN MONACO
- High degree of business reliability – Monaco is a European financial center, and banks provide confidentiality to customers.
- An attractive fiscal policy – for the first two years the business will be exempted from taxes, although in general, the rate is 31%, while it can be said that Monaco is offshore.
- Absence of taxes on real estate, inheritance, property, and profits (if the turnover outside the country does not exceed a quarter of all).
- Many benefits for people permanently residing in the Principality and so on.
STEPS FOR REGISTERING A COMPANY IN MONACO
- Company formation in Monaco requires passing the following approximate registration steps:
- Clarifying your business goals and objectives you intend to realize through the local enterprise.
- Choosing and checking a business name for a future enterprise in Monaco.
- Collecting details about the company’s founders and beneficiaries.
- Hiring a local director – this should be an individual from the principality. It is also necessary to determine the composition of the Board of Directors if you intend to establish such, the responsibility of assigned managers.
- Opening an account with a local bank to deposit the required amount of chartered capital on the account and confirm the fact by a notary. Later, it will be necessary to confirm the capital with a bank certificate while submitting documents for the registration.
- Taking care of the availability of a real office – this is carefully checked by the authorities, and you cannot change it, otherwise, you will have to re-register the enterprise.
- Drafting and assuring all the constituent documents from the local attorney.
- Paying tax on the authorized capital (1%) at the time of business registration.
- Submitting the charter, constituent documentation, and registration forms to the registrar for approval and subsequent registration if the package is compliant with the provisions of the legislation. If the procedure of opening a company in Monaco was successful, the founders receive an official certificate, which the notary assures.
- Registration for tax and social security purposes.
- Publishing information about the new business in the Journal de Monaco.
- Obtaining licenses and permits for regulated types of activities.
TYPES OF BUSINESSES
- Limited Liability Company (SARL)
- Joint-stock Company (SAM)
- General Partnership (SNC)
- Limited Partnership (SCS)
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