Double Tax Treaties Monaco

To date, about 36 bilateral tax agreements (double tax conventions and tax information exchange agreements) were signed by Monaco including with the major European nations. Almost all of them are in force (the official list is published on gouv.mc). These are the jurisdictions which have signed a tax agreement (mostly tax information exchange agreements, not double tax treaties) with Monaco so far: Andorra, Argentina, Australia, Austria, Bahamas, Belgium, Denmark, USA, Faroe Islands, Finland, France, Greenland, Iceland, Liechtenstein, Luxembourg, Republic of Mali, Norway, the Kingdom of the Netherlands, Qatar, Saint Kitts and Nevis, San Marino, Samoa, Seychelles, Sweden, as well as France, Germany, Italy, the Czech Republic, Guernsey, India, Malta, Mauritius, Montenegro, South Africa, the United Kingdom and the United Arab Emirates. Comprehensive double tax conventions exist with France, Guernsey, Liechtenstein, Luxembourg, Mali, Malta, Mauritius, Montenegro, Qatar, Seychelles and the United Arab Emirates (signed 2021).

It is important to remember that the Principality of Monaco is not on the EU list of non-cooperative jurisdictions for tax purposes; however, since June 2024 it has been on the FATF 'grey list' (jurisdictions under increased monitoring) and since August 2025 on the EU list of high-risk third countries for anti-money laundering purposes (a possible FATF delisting was due to be decided at the October 2026 plenary) held by one of the countries with which a bilateral agreement entered into force.

The entry into force of these agreements is subject to the enactment and publication of a Sovereign Ordinance in the Journal de Monaco.

A series of taxes are not available in Monaco: the personal income tax (except for French nationals, under the 1963 Franco-Monegasque convention), the tax on large fortunes, the local tax, property tax, the housing tax, the tax on real estate gain. Companies producing more than 25% of their turnover outside of the Principality and companies whose business in Monaco is to collect revenue on patents or rights of literary and artistic property are subject to corporate income tax (impôt sur les bénéfices) at 25% (rate applicable since financial years starting on or after 1 January 2022). These taxes are subject of the double tax treaties which are stipulating smaller or event exempt rates.

There are two ways the provisions are applicable to these taxes: through exemption or credit. The exemption method consists in not taxing at all the profits in the Principality of Monaco, based on the fact that is already taxed in the partner country. The second method consists in taxing the profits in Monaco but granting compensation in the country of origin for that amount.

The entities willing to take advantage from the double tax treaties provisions must deliver evidence that the taxes are already paid in the country of origin and a residency proof. These are usually certificates issued by the foreign countries’ tax authorities.

In order to avoid the tax frauds, the majority of these treaties have provisions related to the exchange of tax exchange information. According to these provisions, the tax authorities from one state can ask information related to a tax payer with residency in a country which has sign a double tax treaty with Monaco.