The Process of Retiring to Monaco
Open a bank account
Signing a lease
When looking for residency, you have to provide evidence of a One year lease. Trying to find an apartment to rent or purchase can be done with the aid of an property agent, just like you would if you were looking somewhere else. Even so, it is essential to be aware that three months' rent needs to be paid in advance, along with one more three months' rent and a security deposit.
Applying to the Surete Publique
- Certified copy of your Birth Certificate
- Valid Passport
- Matrimony or Separation certificates if applicable
- A statement detailing your academic and professional background, as well as clarification of how all of your belongings have been acquired. It is actually required that this be submitted in French.
- Certificate from the last country of residence confirming you've didn't have criminal history for the last 5 years. A statement proclaiming to this will be taken from the police force within your past home country.
- Valid health care insurance that covers Monaco.
- The electricity agreement for your leasing apartment or purchased property.
- Fully completed residency application forms accessible through the Surete Publique. Be aware these forms are only obtainable in French.
The interview process
Right after it is verified that you've got all the necessary forms, an interview will be scheduled with one of the officials in the Surete Publique. The application is going to be dealt with right after the appointment has taken place. If you are accredited, a notice from the Surete Publique will be delivered to the address on your application with guidelines on how to acquire your Carte de Sejour (residency card). The full process usually takes around three months to complete.
The first card is legal for one year. After twelve months is up, it must then be renewed every 3 years. If you reside in the country for a minimum of 12 years, the Surete Publique might consider you eligible for a 10 year card. If not, you can continue to renew your three year card whenever it's required.
The Carte de Sejour provides you with the right to be in Monaco for over ninety days, and the specifications state that you must spend at least 3 months of every year in Monaco. Just to be regarded as for the 10 year card, you must stay in the country for a minimum of six months out of the year.
Although it can be a difficult process, when completed, retiring to this beautiful country is bound to be a wise decision.