How The Monaco Tax System Works - Monaco Insider

[@GrahamRowanWealth]

QUESTION: What surprises you the most about the Monaco tax system?

[@honorabilis6720]

could you elaborate on the ICT. what are the tax rates if your company doesn’t have moren then 25% transactions outside monaco and what is the definition of being “the main employee” in a company. thank you kindly

[@matthewgent1788]

Biggest surprise is that you can get around the corporation tax (that France pressured Monaco into) by simply paying yourself a salary worth all the company profits. I did not realize that and it's beautiful.

[@kfg7248]

That stood out for me as well. I visited Monaco in 2006 and learnt about the no income tax, however considering I am now a business owner and I've always wanted to to live in Monaco, this is very insightful information.

[@Tedsav2000]

My biggest surprise was to learn about the 33% corporate tax when most transactions happen outside the principality. Good intel Thhank you for the great content. I am currently in the process of applying for residency with the intent of opening a business there.

[@pallavishinde9754]

To the point information, thank you so much 😀

[@GrahamRowanWealth]

Thanks Pallavi - are you considering a move to Monaco?

[@markylon]

One thing you failed to mention is that Monaco residents are NOT allowed to play in the casino!

[@kadrikrimm8511]

That’s not true. Monaco citizens are not allowed to play.

[@markylon]

@@kadrikrimm8511 The citizens of Monaco are forbidden to enter the gaming rooms of the casino. The rule banning all Monegasques from gambling or working at the casino was an initiative of Princess Caroline, the de facto regent of Monaco, who amended the rules on moral grounds. The idea that the casino was intended only for foreigners was even emphasized in the name of the company that was formed to operate the gambling business, the Société des Bains de Mer et du Cercle des Etrangers

[@dwlof]

Great info: I like the tip about how one can reduce the tax liability of a Monaco company by paying oneself a large salary. Are there controlled foreign company (CFC) rules in Monaco?

[@monacoinsider892]

Thanks Ross - that's above my pay grade I'm afraid but we can introduce you to the relevant experts if you want to take a serious look at being based in Monaco. Just email me on [e-mail]

[@baronsilverbaron757]

So according to this info. I drop what I'm doing and immediately move to Monaco and stop paying tax the same day to my previous tax authority.

[@janedunlap2714]

If I am ever fortunate enough to move there {win the lottery}, as a US citizen I will still owe US taxes. But plenty of other reasons to move there

[@ecocruzteresaartiga27]

👍

[@kspradeep8397]

I find Cayman Islands a more practical destination instead of Monaco when it comes to saving taxes. Monaco is highly exaggerated as a tax saving destination, but it's not really that good for saving taxes.

[@LyricalMirage]

Dubai