Monaco Company Formation & Entity Choice

Entity types and incorporation

Common Monaco business vehicles are the SARL (limited liability company), the SAM (public limited company / societe anonyme monegasque), and partnerships (SNC, SCS). All commercial activity requires prior government authorisation from the Direction de l'Expansion Economique before incorporation.

• SARL (Societe a Responsabilite Limitee) — Private limited company; limited liability; managed by one or more managers (gerants); up to 50 partners (Monaco company law (SARL regime))
• SARL minimum share capital — EUR 15,000, fully paid up at incorporation EUR (Monaco company law (SARL regime))
• SAM (Societe Anonyme Monegasque) — Public limited company; board of at least 3 directors; mandatory statutory auditors (commissaires aux comptes) (Monaco company law (SAM regime))
• SAM minimum share capital — EUR 150,000, of which at least half paid up at incorporation EUR (Monaco company law (SAM regime))
• Partnerships (SNC, SCS) — SNC = general partnership (all partners unlimited liability); SCS = limited partnership (general partners unlimited, limited partners capped at their investment); no fixed statutory minimum capital (Monaco company law (SNC / SCS regimes))
• Government authorisation — Prior authorisation from the Direction de l'Expansion Economique is required before any commercial activity or incorporation; application includes a business plan and proof of founders' credentials (Monaco economic activity authorisation rules (Direction de l'Expansion Economique))
• Statutes / notarisation — Articles of association must be drafted in French and executed before a Monaco notary (Monaco company law (incorporation formalities))
• Capital deposit — Share capital must be deposited in a blocked account at a Monaco bank; a deposit certificate is required for registration (Monaco company law (incorporation formalities))
• Commercial registration — Company is registered with the Repertoire du Commerce et de l'Industrie (RCI), Monaco's commercial registry (Monaco company law (RCI registration))
• Typical incorporation timeline — Approximately 4 to 6 months from file submission to RCI registration (driven by the authorisation review) ((approx — varies by activity)) (Direction de l'Expansion Economique (authorisation process))
• Annual compliance — accounts — Companies must keep statutory accounting records and file annual financial statements; SAMs require statutory auditors (Monaco company and accounting law)
• Annual compliance — tax filing — Companies within the ISB scope file an annual profits tax return within 3 months of year-end; VAT-registered businesses file CA3 returns monthly ((approx — confirm ISB deadline)) (Sovereign Ordinance no. 3.152 of 19 March 1964; French Code general des impots (TVA))