With stunning views, stunning weather, low crime rates, and luxurious living accommodations, it is easy to understand why somebody would want to relocate to Monaco. Nonetheless, it is really not as simple as packing everything up and moving to the principality. There are specific things to consider, as well as documents that must be finished. Let us take a look at what you should do if you are planning on moving to Monaco for retirement life.
Open A Banking Account
Before emigrating, or quickly after your arrival, you have to open up a bank account with a Monaco area financial institution and you might be asked to make a preliminary deposit of anywhere from 300,000 to 1 million. As soon as your account has been available for 7 to ten days, your bank will issue you with a letter (a bank attestation) which should be shown to the Surete Publique (Immigration Office) verifying that you have enough money to support yourself while residing in Monaco. In the event that you want to work in Monaco, you must also provide a copy of your employment agreement. Naturally, that is unlikely to be a problem in case you are intending to retire.
Signing A Lease
When applying for residency, you need to provide evidence of a One year lease. Trying to find a flat to rent or purchase can be achieved with the help of an estate broker, just as you would if you were looking elsewhere. Nevertheless, it is essential to bear in mind that three months’ rent needs to be paid in advance, along with another three months’ rent as well as a security deposit. You will find heaps of websites with tips surrounding ‘Applying For Residency In Monaco’ this is definitely possibly one of the best sites residency in Monaco.
Applying To The Surete Publique
This should be done in person. Along with your bank attestation and a copy of your signed One year lease, you will need to hold the following documents in order to carry on:
- Certified duplicate of your Birth Certificate
- Valid Passport
- Matrimony or Separation certificates if applicable
- A statement detailing your educational and professional background, in addition to explanation of how all of your possessions have been acquired. It is actually required that this be sent in in French.
- Certificate from your last country of residence verifying you’ve didn’t have criminal record for the past 5 years. A statement attesting to this will be taken from the police force in your past home country.
- Valid health insurance that covers Monaco.
- The electricity contract for your rental apartment or purchased property.
- Fully completed residency application forms readily available via the Surete Publique. Remember these forms are only offered in French.
The Interview Process
Right after it is validated that you’ve got all the necessary documentation, an interview is going to be appointed with one of the officers in the Surete Publique. Your application will be dealt with right after the meeting has taken place. If you’re approved, a letter from the Surete Publique will be sent to the address on the application with instructions on how to acquire your Carte de Sejour (residency card). The complete process typically takes around three months to complete. Moving to Monaco or any other country can seem like a daunting task – as a fully independent and highly dedicated relocation provider Relocation Monaco can provide you with a seamless service if you are thinking of relocating to Monaco. Take a look at their website for more information regarding ‘www.relocation-monaco.com‘ as well as much more information relating to moving to Monaco.
The first card is legitimate for one year. After one year expires, it needs to then be renewed every 3 years. If you reside in the country for a minimum of 12 years, the Surete Publique might consider you entitled to a ten year card. If not, you can carry on and renew your 3 year card as and when it is required.
The Carte de Sejour gives you the ability to remain in Monaco for longer than three months, and the requirements state that you need to spend no less than 3 months of every year in Monaco. Just to be considered for a 10 year card, you need to reside in the country for a minimum of six months out of the year.
Although it can be a complicated process, once completed, retiring to this beautiful country is bound to be a wise decision.