Monaco

Monaco

Western Europe

EuropeNon-EU
Overall score
Insufficient data · 62% data coverage
Language
French
Currency
EUR
Citizenship
10 years (discretionary)
Personal tax
Generally no personal income tax for residents, except French nationals under bilateral rules
Cost of living
€5,000+ / mo (single)
Overall scoring rubric
73
Access

How easy it is to get in, stay, and build status.

17% of Overall
93Residence12%
25Citizenship and passport5%
Earning power

How far local income goes after prices.

25% of Overall
Salary and work12%
Buying power13%
77
Business and wealth

How friendly the country is for taxes, companies, and investing.

20% of Overall
94Taxes7%
78Business8%
50Investment5%
82
Daily life

How comfortable everyday life is for families and long stays.

25% of Overall
92Quality of life18%
57Education7%
85
Rights and institutions

How reliable freedoms and institutions are.

13% of Overall
84Freedom6%
85Rule of law7%

Safety (82) clears the 40 floor, so no penalty applies.

Healthcare (100) clears the 40 floor, so no penalty applies.

Environment (86) clears the 35 floor, so no penalty applies.

Rights and institutions (85) clears the 30 floor, so no penalty applies.

Overall score
Final weighted result

A low-tax European country with a strong passport and residence by investment, but a high cost of living, a long 10-year naturalisation wait and no dual citizenship.

Pros

  • A strong passport
  • Residence by investment

Cons

  • A high cost of living
  • A long 10-year naturalisation wait
  • No dual citizenship

Best for

Low-tax relocatorsInvestors

Score profile

Access
Residence
93
Citizenship
15
Passport
87
Earning power
Salary & work
Buying power
Cost of living
72
Economy
Business and wealth
Taxes
94
Personal tax
100
Corporate tax
29
Business
78
Investment
50
Wealth building
Daily life
Safety
82
Healthcare
100
Environment
86
Infrastructure
Education
57
HDI
0
Rights and institutions
Freedom
84
Rule of law
85

Access

Residence

Rules change often and depend on your situation. Confirm any residence / visa decision with a qualified professional, or do your own research, before acting.

Openness to residents
Excellent
93
How this score is calculated

Our 0–100 score combines international migrant stock (40%), regulatory quality (20%), the breadth of named residence pathways (25%), and time to permanent residence (15%). Available indicators are reweighted.

Migrant stock70.2% of population (2024)
Regulatory quality1.10 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Main pathways
EmploymentStudyFamily reunificationBusiness or investment where eligible
StudentRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
WorkRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Self-employedRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
PermanentRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Citizenship

Rules change often and depend on your situation. Confirm any citizenship decision with a qualified professional, or do your own research, before acting.

Citizenship accessibility
Low
15
Years required10 years (discretionary)
Dual allowedfalse
LanguageCheck the current naturalisation rules for the selected route
ResidenceTypical headline route: 10 years (discretionary); qualifying residence and absence rules apply
NotesRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Passport

Rules change often and depend on your situation. Confirm any travel or visa decision with a qualified professional, or do your own research, before acting.

Passport power
Excellent
87

Passport-index style mobility for the Monaco passport. The score above is its world reach: the share of 198 destinations reachable without a prior visa.

173 / 198
Mobility
#20
Global rank
Yes
Biometric
  • Visa-free124
  • On arrival44
  • eTA5
  • Visa required25

Passport Index style mobility data (2024–2025 estimate). Placeholder figures; verify current entry rules with each destination’s authority before travelling.

Earning power

Salary & work
Labour-market strength
Data not available
How this score is calculated

Our 0–100 score combines output per worker (a proxy for wage potential at 40%), unemployment (35%) and labour-force participation (25%). Available indicators are reweighted; the curated profile fields remain below.

Tech salary (estimate)Varies substantially by city, seniority, and employer
FreelanceMarket access depends on language, sector, and work authorisation
Job marketUse current local vacancy and salary data for role-specific decisions.
Buying power
Purchasing power score
Data not available
How this score is calculated

Our 0–100 score estimates how far money goes for the typical person here. It combines GNI per capita at PPP (30%) and actual household consumption per person at PPP (15%) with a price-advantage term from the local price level (25%) that rewards lower prices, then adjusts for income equality via the Gini index (20%), so unequal economies don't ride a high average, plus price stability via consumer inflation (10%). Available indicators are reweighted; it is a comparison, not a personal budget estimate.

Cost of living
Affordability
Good
72

Our 0–100 affordability score is derived from the local consumer price level (World Bank, US = 100): the cheaper everyday prices are, the higher it scores. Lower price level means your money goes further here.

RentVaries substantially by city and neighbourhood
Monthly€5,000+ / mo (single)
CitiesMonaco
Economy
Economic strength
Data not available
How this score is calculated

Our 0–100 score combines income level (GDP and GNI per capita, output per worker), growth momentum (real GDP growth), price stability (inflation) and labour utilisation (unemployment). Available indicators are reweighted; the sector split and industry profile below are descriptive, not scored.

Output & income
GDP$11.1B (2024)
GDP / person$288,002 (2024)
GDP growth8.5% / yr (2024)

Source: World Bank World Development Indicators

Sector composition
Industry12.8% of GDP (2024)
Services87.2% of GDP (2024)

Source: World Bank World Development Indicators

Main industries
Tourism & hospitalityBanking & wealth managementReal estateGaming
TypeHigh-income, finance- and tourism-led
Key sectorsPrivate banking, Luxury tourism & casinos, Real estate
SummaryA wealthy city-state built on private banking, luxury tourism, real estate and tax-friendly residence.
CurrencyEuro (used by agreement with the EU)

Business and wealth

Taxes

Rules change often and depend on your situation. Confirm any tax decision with a qualified professional, or do your own research, before acting.

Tax friendliness
Excellent
94
PersonalGenerally no personal income tax for residents, except French nationals under bilateral rules
Corporate25% where the business falls within the profits-tax regime
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Exit taxCheck current domestic rules before changing tax residence
Foreign cosManagement, permanent-establishment, CFC, and reporting rules may apply
Personal tax

Rules change often and depend on your situation. Confirm any tax decision with a qualified professional, or do your own research, before acting.

Personal tax
Excellent
100
PersonalGenerally no personal income tax for residents, except French nationals under bilateral rules
FreelanceRegistration, immigration permission, tax, and social contributions may apply
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Exit taxCheck current domestic rules before changing tax residence
Corporate tax

Rules change often and depend on your situation. Confirm any tax decision with a qualified professional, or do your own research, before acting.

Corporate tax
Low
29
Corporate25% where the business falls within the profits-tax regime
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Foreign cosManagement, permanent-establishment, CFC, and reporting rules may apply
Business
Business friendliness
Good
78
How this score is calculated

Our 0–100 score measures the operating environment without counting tax a second time: company formation and ownership rules contribute 40%, regulatory quality 30%, and government effectiveness 30%. Available indicators are reweighted; the values are shown below.

Regulation & bureaucracy
Regulatory quality1.10 (−2.5 to 2.5) (2024)
Government effectiveness1.74 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Operating rules
Foreign co.Generally possible, subject to sector, registration, tax, and substance rules
Local co.Available company forms and capital requirements vary
FreelanceRegistration, immigration permission, tax, and social contributions may apply
Investment

Rules change often and depend on your situation. Confirm any investment / tax decision with a qualified professional, or do your own research, before acting.

Investing environment
Moderate
50
How this score is calculated

Our 0–100 score measures market access without counting tax a second time: broker availability contributes 50%, equity-market depth 30%, and private credit depth 20%. Available indicators are reweighted.

Capital gainsTreatment varies by asset, residence, holding period, and treaty position
DividendsData not available yet
ETFs & fundsData not available yet
Wealth taxCheck current national and subnational rules
BrokersLocal and international availability varies by residency and compliance checks
Foreign accessData not available yet
Tax-advantagedData not available yet
Wealth building

Rules change often and depend on your situation. Confirm any tax / investment decision with a qualified professional, or do your own research, before acting.

Wealth accumulation
Data not available
How this score is calculated

How favourable Monaco is for building wealth: earnings and business/investment upside, tax drag, and how much a typical income keeps after living costs. Estimated from the factors below.

Salary & work
Data not available
Business
Good
78
Investment
Moderate
50
Tax friendliness
Excellent
94
Cost of living
Good
72

Daily life

Safety
Safety & stability
Excellent
82
How this score is calculated

Our 0–100 score combines personal safety (intentional homicide rate at 50%), political stability and absence of violence (30%), and control of corruption (20%). Available indicators are reweighted; the published values are shown below. Always check current government travel and security advice before relocating.

Personal safety
Homicide rate3.1 per 100,000 (2001)

Source: World Bank World Development Indicators

Institutions & stability
Control of corruption1.80 (−2.5 to 2.5) (2024)
Political stability1.24 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Healthcare
Healthcare score
Excellent
100
How this score is calculated

Our 0–100 score combines health outcomes (life expectancy at 25% and under-5 mortality at 20%) with system capacity (physicians at 20% and hospital beds at 15% per 1,000 people) and health spending per capita (20%). Available indicators are reweighted; the published values are shown below.

Outcomes
Life expectancy86.5 years (2024)
Under-5 mortality2.7 per 1,000 births (2024)

Source: World Bank World Development Indicators

Capacity & resourcing
Physicians8.61 per 1,000 (2020)
Hospital beds21.99 per 1,000 (2014)
Health spending$9,797 PPP / person (2023)

Source: World Bank World Development Indicators

System & costs
SystemPublic/private mix varies by eligibility and residence status
InsuranceCheck residence-permit and local coverage requirements
Avg costDepends on eligibility, income, insurer, and chosen coverage
Environment
Environment score
Excellent
86
How this score is calculated

Our 0–100 score combines annual population-weighted PM2.5 exposure at 60% with freshwater stress at 40%. Lower exposure and lower water stress score better. Air quality alone can produce a score because it covers most countries; water stress alone cannot.

Environmental pressure
PM2.5 exposure11.4 μg/m³ annually (2023)

Source: World Bank World Development Indicators

Infrastructure
Infrastructure score
Data not available
How this score is calculated

The score combines digital access, resilience and download performance (30%), electricity access and network losses (30%), and transport infrastructure covering rail, logistics and aviation (40%). Available inputs are reweighted, but a country needs both digital and transport data to receive a score.

Digital infrastructure
Internet use99.0% (2024)

Source: World Bank World Development Indicators

Utilities
Electricity access100.0% (2023)

Source: World Bank World Development Indicators

Transport
Air connectivity78 departures / million people (2019)

Source: World Bank World Development Indicators

Education
Education score
Moderate
57
How this score is calculated

Our 0–100 score combines attainment (expected schooling at 30% and mean schooling at 25%) with participation (tertiary enrolment at 25%) and public investment (government education spending at 20%). Available indicators are reweighted; tuition and study rules remain separate profile fields below.

Attainment
Expected schooling21.7 years (2023)
Mean schooling0.0 years (2023)

Source: UNDP Human Development Report 2025

Participation & investment
Tertiary enrolment77% gross (2024)
Education spending1.7% of GDP (2023)

Source: World Bank World Development Indicators

TuitionLimited local provision; costs vary
Public uniVaries by institution, programme, and student nationality
LanguagesFrench
Student workRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
HDI
Human development score
Low
0
How this score is calculated

The UN Human Development Index is the geometric mean of three dimension indices (a long and healthy life, knowledge, and a decent standard of living), shown on a 0–100 map scale (HDI × 100). The 2023 UNDP inputs behind each dimension are listed below.

HDI0.000 (2023)

Source: UNDP Human Development Report 2025

Long & healthy life
Life expectancy86.4 years (2023)

Source: UNDP Human Development Report 2025

Knowledge
Expected schooling21.7 years (2023)
Mean schooling0.0 years (2023)

Source: UNDP Human Development Report 2025

Standard of living
GNI / person$0 PPP (2023)

Source: UNDP Human Development Report 2025

Rights and institutions

Freedom
Freedom score
Excellent
84
How this score is calculated

The score weights Freedom House’s 0–100 Freedom in the World score at 60% and its Freedom on the Net score at 40%. If either report does not cover a country, the available score is used alone. Scores of 70 and above are rated “Free”, 40–69 “Partly free”, and below 40 “Not free”.

Freedom in the World84 / 100 (Free)
Rule of law
Rule of law score
Excellent
85
How this score is calculated

The World Bank’s Rule of Law indicator captures how well contracts are enforced and how independent and effective the courts, police and property-rights regime are. We show its 0–100 percentile rank, where higher means stronger, more predictable institutions.

Rule of Law percentile85 / 100
Resources

Official references and quick links for Monaco. Always confirm against the primary source before acting.

Official references
Quick links

Rules change often and depend on your situation. Confirm any immigration, tax or legal decision with a qualified professional, or do your own research, before acting.

Mock data for demonstration only. Not legal or tax advice.