The General Business Corporation, locally known as a Societe d’Affaires Monegasque, can be formed by a minimum of two shareholders, investing at least €150,000 in the capital of the company. This amount must be fully paid-up before company incorporation in Monaco. The owners must also appoint a minimum of two directors, who can be foreigners residing outside of Monaco and both individuals or corporate entities; Monaco SAMs are legally tax exempt provided that over 75% of their sales are made with Monaco residents. If otherwise, they are subject to Monaco corporate income tax, at a standard rate of 33.3%. All Monaco companies are however required to register for VAT and apply that tax on their local and French sales.

Monaco General Business Corporation Key Features

  1. Can be formed by a minimum of two shareholders
  2. Minimum capital of at least €150,000
  3. The owners must also appoint a minimum of two directors
  4. Monaco SAMs are legally tax exempt provided that over 75% of their sales are made with Monaco residents
  5. If otherwise, they are subject to Monaco corporate income tax, at a standard rate of 33.3%.

Monaco General Business Corporation Legal Requirements

Requirements

Description

General

  • Corporate  vehicle permitted

Monaco Company

  • Physical office in Monaco

No

Share capital or equivalent

  • Minimum paid up capital

€150,000

  • Minimum investors

None

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

Yes

Shareholders

  • Minimum number

1

  • Corporate shareholder allowed

Yes

  • Local shareholder required

No

Service Providers Required

  • Company Secretary

Yes

  • Auditors

Yes

Monaco GBC Tax Treatment

Monaco SAMs are legally tax exempt provided that over 75% of their sales are made with Monaco residents. If otherwise, they are subject to Monaco corporate income tax, at a standard rate of 33.3%.

Monaco GBC Duration for set-up

2 Weeks

Distinctive Benefits of the Monaco GBC

  • There is no taxation of dividends in Monaco.
  • There is no taxation of capital gains in Monaco.
  • There is no withholding tax in Monaco.
  • Separate Legal Identity
  • Perpetual Existence

The Valsen Advantage

  1. End to end comprehensive service
  2. Speedy and efficient service
  3. Expert advice on structuring options
  4. Dedicated ongoing compliance support
  5. Extensive network pool of service providers