🇦🇩 Ready to start a new adventure in Monaco? If you’re planning a move to Monaco, this comprehensive guide covers everything you need for a smooth transition.
What should I know about living in Monaco at a glance?
- Flag: 🇲🇨
- Population: Around 39,000
- Currency: Euro (EUR)
- Average salary: About 4,500 EUR/month
- Live EUR ←→ Dollar: Use dynamic currency converters for the latest exchange rates
- Monaco Statistics Department (IMSEE), 2025, https://www.imsee.mc/
- European Central Bank (ECB), 2025, ecb.europa.eu
- XE, 2025, xe.com
Reviewed by Monaco Statistics Department (IMSEE), last updated in July 2025; European Central Bank, last updated in July 2025; XE Financial Data Team, last updated in April 2025.
How Much Does It Cost to Move Your Belongings to Monaco?
The cost of relocating to Monaco depends on factors such as shipment size, transport method, origin country, and any additional relocation or customs-handling fees. Below are typical market rates in EUR as of mid-2025:
| Shipment Method | Transit Time | Estimated Cost (EUR) |
| 20-ft container | ~2–4 weeks | €1,800–€3,800 |
| 40-ft container | ~2–4 weeks | €3,200–€6,200 |
| Air freight (per kg) | Few days | €5.00–€9.50+ |
| Customs / Fees | — | €200–€600+ |
Reviewed by Freightos Market Analytics Team and Maersk Logistics Research Team, last updated in July 2025.
Use a real-time moving calculator for a tailored quote with ReloAdvisor.
Real-life case:
“I relocated to Monte Carlo, Monaco in April 2025 with about 8 cubic meters of belongings using a shared 20-ft container. The total cost, including customs processing and delivery to my new apartment, was around €2,700. The shipment arrived in about three weeks, and the moving company handled all logistics efficiently, making my relocation to Monaco smooth and stress-free.” — Julien D., moved in April 2025
Many people relocating to Monaco choose to settle in one of the principality’s most popular areas for newcomers, including Monte Carlo, La Condamine, Fontvieille, Moneghetti, and Larvotto. These neighborhoods offer a strong mix of career opportunities, luxury amenities, cultural attractions, and vibrant international communities. Their combination of safety, high quality of life, and proximity to the Mediterranean makes them especially appealing for expats beginning a new chapter in Monaco.
How to understand the cost of living in Monaco?
As of mid‑2025, Monaco has a high standard of living and cost of living. A single person can expect monthly expenses (excluding rent) of around €900, while a one-bedroom city-centre apartment ranges from €3,000 to €6,000+. Public transport costs about €22/month. With an average net salary of €7,683, Monaco offers attractive earnings. Its safety, quality services, Mediterranean climate, and prime location make it a top choice for expats seeking luxury, culture, and outdoor activities.
| Category | Approximate Cost |
| Monthly expenses (excluding rent, single person) | ~ €900 |
| One‑bedroom apartment (city centre) | ~ €3,000–€6,000+ / month |
| Monthly public transport pass | ~ €22 |
| Average monthly net salary | ~ €7,683 |
Reviewed by Numbeo Data Quality Team, last updated in June 2025
How to Apply for a Visa and Meet Residency Requirements for Monaco?
Foreign nationals wishing to live, work, or study in Monaco need a visa or residence permit. Common options include work permits, student visas, and temporary or long-term residence permits. To stay long-term, you must comply with Monegasque residency rules, including maintaining valid permits, registering your address with local authorities, and reporting any changes. Permanent residency may be available after meeting criteria such as holding a temporary permit for the required period, demonstrating stable income, and passing health and character checks.
✅ Visa info: Monaco Government – Immigration Services
📝 Application & appointments: Monaco Consular Services
Reviewed by the Government of Monaco, last updated in July 2025.
How to Access Healthcare and Insurance Options in Monaco?
Monaco provides healthcare through a public system funded by mandatory social security contributions, complemented by private healthcare providers. All residents, including foreign nationals with a long-term residence permit, are required to contribute to the Monegasque social security system, which covers general practitioner (GP) visits, specialist care, hospital treatments, and certain medications.
Foreign residents must register with the social security system to access public healthcare services. Those not covered, such as short-term visitors or tourists, should obtain private health insurance to ensure adequate coverage. Private clinics and hospitals are widely available in Monte Carlo and other parts of Monaco.
Reviewed by the Ministry of Health of Monaco, last updated in July 2025.
How to Navigate the Housing Market as a Newcomer to Monaco?
Renting a home in Monaco usually requires a security deposit of 1–3 months’ rent plus the first month’s payment. Tenants typically need a valid ID or passport, proof of income, and sometimes references. Leases are generally 12 months, with utilities such as electricity, water, heating, and internet usually paid separately.
Popular residential areas for newcomers include:
- Monte Carlo – City Centre / Larvotto: Trendy neighborhoods with luxury apartments, restaurants, shops, cultural landmarks, and easy access to public transport.
- La Condamine – Port / Residential Districts: Modern apartments near the harbor with convenient commuting options and vibrant local markets.
- Fontvieille – Residential and Suburban Areas: Quiet, family-friendly zones with parks, shopping centers, and sports facilities.
- Moneghetti – Hillside and Peripheral Areas: Scenic areas offering historic sites, panoramic views, and a calmer lifestyle.
- Jardin Exotique – Upper Town / Peripheral Areas: Green spaces, peaceful surroundings, and proximity to museums and walking trails.
Reviewed by Numbeo Property Data and Monaco Real Estate Platforms, last updated in July 2025.
How to Understand Your Tax and Pension Obligations in Monaco?
If you are considered a tax resident in Monaco—generally determined by residing in the principality for more than 183 days per year or having your main economic interests in Monaco—you are taxed on income earned within Monaco. Monaco does not levy personal income tax on residents, but social security contributions are mandatory for employees and self-employed individuals, covering pensions, healthcare, and other social benefits.
Monaco has agreements with several countries to prevent double taxation, ensuring that residents are not taxed twice on the same income. The Monaco Tax Administration (Direction des Services Fiscaux – DSF) administers all tax obligations, including social security contributions and pension regulations.
| Tax Component | Description |
| Social Security / Pension Contributions | Mandatory contributions covering retirement savings, healthcare, and social benefits |
| Double Tax Treaties | Prevent double taxation of international income for residents |
Reviewed by the Monaco Tax Administration, last updated in 2025.
How to Comply with Customs and Duty Rules When Moving to Monaco?
When relocating to Monaco, used household goods and personal belongings can generally be imported duty- and tax-free if they have been owned and used for at least six months and are intended solely for personal use. To qualify, you must submit a customs declaration along with a detailed inventory, passport, and proof of residence. It is recommended that your items arrive around the time of your relocation.
New or commercial goods, high-value electronics, and certain restricted items—such as firearms, specific medications, or animal products—may be subject to customs duties or require import permits. Accurate and complete declarations are essential to avoid inspection delays, fines, or confiscation.
Reviewed by the Monaco Customs Administration (Direction de la Douane – Monaco), last updated in 2025.
Real-life case:
“When I relocated from Nice, France to Monaco in June 2025, I carefully prepared an inventory of all my personal belongings and submitted it along with the required customs declaration to the Monaco Customs Administration. Since my items had been owned and used for over six months, they qualified for duty- and tax-free import. My shipment by road arrived in about five days, and the moving company handled all customs procedures efficiently. Everything was delivered to my new apartment in perfect condition.” — Julien L., moved in June 2025
How to Manage Pet Relocation When Moving to Monaco?
Bringing pets into Monaco requires compliance with Monegasque and EU animal health regulations to protect public and animal health. Dogs, cats, and ferrets must be microchipped, vaccinated against rabies, and accompanied by a valid veterinary health certificate issued by an authorized veterinarian. Pets entering from outside the EU may also require an import permit.
Monaco follows EU guidelines for rabies control, so pets from countries with higher rabies risk may need rabies antibody testing and, in some cases, a quarantine period depending on the country of origin. Planning well in advance is recommended, as documentation and permit approvals can take several weeks. Many pet owners use licensed pet relocation services to ensure vaccinations, permits, and travel logistics are properly handled.
Reviewed by the Monaco Ministry of Agriculture, Viticulture and Food, last updated in 2025.
How to Import a Car and Swap Your Driver’s License in Monaco?
Imported vehicles in Monaco must comply with Monegasque and EU safety, environmental, and registration standards. Cars from outside the EU may be subject to customs duties and VAT. To register a vehicle, you must submit the vehicle title, proof of ownership, and technical compliance certificates to the Service des Titres et Transports (Monegasque Vehicle Registration Service). Vehicles undergo a technical inspection to confirm roadworthiness and emissions before registration.
Foreign driver’s licenses are generally valid for up to 90 days in Monaco. Long-term residents must exchange their foreign license for a Monegasque driver’s license, which may require a written and practical test depending on the country of origin.
Reviewed by the Service des Titres et Transports and the Monegasque Customs Authority, in July 2025.
How to Open a Bank Account and Obtain a Tax ID in Monaco?
Opening a bank account in Monaco is straightforward for residents and newcomers. You generally need a valid passport, proof of residence, and, if applicable, a residence permit. Major banks—such as Banque de Monaco, Compagnie Monégasque de Banque, and Société Générale Private Banking Monaco—offer services including current and savings accounts, international transfers, online and mobile banking, and customer support in English.
For tax purposes, anyone working or earning income in Monaco must obtain a Monegasque tax identification number (TIN) from the Direction des Services Fiscaux (Monaco Tax Administration). This number is required for employment, banking, and tax filing. Applications can typically be submitted in person or online with passport and residency documentation.
Reviewed by the Monaco National Bank and Direction des Services Fiscaux, in July 2025.
Where can I find tools and more resources before moving?
For further guidance, make use of the volume calculator, book a video survey, or explore comprehensive guides for Finland and Andorra with ReloAdvisor.
