Small business setup in Monaco
Monaco offers great opportunities for small businesses with its wealth, luxury lifestyle, and advantageous tax environment. Our expertise in supporting start-ups and expanding small businesses, along with our in-depth knowledge of the local market and proficiency in company formation, allow us to help you launch your small enterprise in Monaco. Let’s talk about the benefits of starting a small business in Monaco and how our specialized solutions can help ensure your success.
Formalities and procedure
Registering a small business in Monaco entails completing a series of steps that can be finished within a short period of time.
Choose a business name
It is important that the name of the business is original and not currently being used. You can verify the availability of a name by visiting the Monaco Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. To assist you in making a well-informed choice that suits your particular needs and future goals, we offer expert advice on Limited Liability Company (SARL), Joint Stock Company (SAM), Branch Office, and Holding Company.
Set up legal address
When starting a business, it is crucial to have a legal address that complies with local regulations and meets the needs of your company, as it will be the primary point of contact for government agencies, legal authorities, and important business communication.
Get the necessary paperwork ready
Our team of professionals will assist you in developing detailed and tailored documentation that aligns with your company’s structure and objectives. We ensure compliance with all legal requirements and will manage the filing procedures on your behalf.
Open a bank account
In Monaco, businesses need to have a corporate bank account in order to operate. We will guide you through this process, making sure you adhere to the necessary regulations and facilitating the opening of a bank account with a reputable financial institution in Monaco for your small business transactions.
Company registration
We take care of the registration process with entities such as the Trade and Companies Register and tax authorities, freeing you from the administrative tasks. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial records. Our group of accounting professionals is able to assist in creating efficient accounting and bookkeeping systems that adhere to Monaco’s regulations.
Small business examples
Small businesses operate in various industries and sectors, each with unique needs. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Monaco
Monaco is an attractive option for establishing small businesses, as it provides numerous benefits.
Strategic location
The wealth, luxurious living, and tax benefits of Monaco create chances in the real estate, financial, and luxury service sectors for companies seeking opportunities in an upscale and exclusive setting. With its glamorous image, wealthy customer base, and government support for investments and growth, Monaco offers many benefits for businesses wanting to set up a base in the area.
Favorable tax regime
Monaco imposes a 25% corporate income tax on companies engaged in “commercial or industrial” activities in or from Monaco, with a minimum of 25% of their revenue generated from transactions outside Monaco. The current corporate income tax rate is a flat 25%, and there are different exemptions and restrictions, such as a temporary exemption for newly established companies.
Banking
Monaco’s banking benefits involve stability and a positive tax setting, which opens up possibilities for wealth management, financial services, and investment in an elegant and selective atmosphere.
Our small business setup solutions
We understand the significance of your time and resources. That’s why we offer two convenient choices to make the company formation process easier.
Business formation online
By utilizing the online platform offered by Monaco, individuals are able to start and finalize the process of setting up a business from any location worldwide. The option to track progress, upload necessary paperwork, and access our services via secure digital platforms guarantees a hassle-free and convenient experience.
Business formation remotely
If you’d rather take a more relaxed approach, we are able to manage all the necessary documents. Our experts will handle all the required paperwork and communicate with the appropriate authorities on your behalf to ensure you feel reassured.
Contact us today and launch your small business success
Get in touch today to schedule a consultation and begin pursuing your business goals. We can start this journey together.