Guide to Property Taxes in Monaco

Monaco did away with all forms of personal income tax in 1870.

Income Tax

Individuals do not pay tax on income. However, French nationals residing in Monaco are subject to French income taxes unless they took residency in Monaco before 13. October 1957.

Rental Income

Rather than income tax, Monaco levies a small rental duty (droit de bail), which is 1% of the annual rent + service charges.

Capital Gains

There is no capital gains tax.

Property Tax

There are generally no property taxes in Monaco.

Corporate Tax

Monaco levies corporate income tax on business profits at a rate of 25%. However, this tax is only applied to companies that generate more than 25% of their turnover outside of Monaco.

Property Transfer Tax

The purchase of a new property, whether off-plan or under construction, by a private individual or a Monegasque Société Civile Immobilière (SCI) is subject to a rate of 1%. The acquisition of a resale property by a private individual or a Monegasque real estate civil company is taxed at 4.75%. When the purchase is made through an offshore or foreign company with the appointment of an authorised representative, the applicable rate is 7.5%, while acquisitions through such companies without an authorised representative are taxed at 10%.