1,000+ jobs in Monaco (2024)

FAQs

What jobs pay well in Monaco? ›

Sector and Industry: Monaco's economy is diverse, with certain sectors like finance, luxury tourism, real estate, and yachting paying significantly higher wages than other industries. Employees in these lucrative sectors often command higher salaries due to the specialized skills and high level of service expected.

Looking for a salaried job in the Principality of Monaco is significantly harder than in any other country in Europe. Talent, skills and degrees are not enough to be employed in Monaco, since no foreigner may occupy a private salaried position without Government authorisation.

The salary range of employees working in Monaco is, by default, in the range of 2,444.00 EUR (low salaries, employees' actual wages may be even lower) to 7,963.00 EUR (high salaries, actual salaries can be even higher).

The country has produced streamlined legislation to create an efficient process by which applicants may obtain a residence permit - and citizenship if so desired. The Monaco permanent residency card ("Carte de Sejour") allow applicants to live in Monaco indefinitely.

The common belief is that you have to have at least one million euros to open a bank account in Monaco. This is not exactly true, because you can apply for residency for less than 20,000 euros, even if you do not have a job. There are different ways to relocate to Monaco with or without money.

Application process

Before applying for an employment permit, a person must apply for an open position with the employment service. If you are a non-citizen and receive an employment permit, you can continue with the application process. According to the law, the employer is obliged to help employees obtain a permit.

Non-UE nationals can visit Monaco visa-free, to the extent they have a Schengen visa. However, those who wish to become resident in Monaco must apply for a long-stay visa, i.e., visa Type D. This visa should be requested before your nearest French embassy or consulate.

Monaco is an excellent place to live for a number of reasons. First, the weather is lovely and the scenery is beautiful. Monaco is also a very safe place to live; crime rates are very low. Additionally, Monaco has great infrastructure and facilities, and there are many things to do in one's spare time.

To obtain Monaco residency, applicants must deposit at least €500,000 in a Monaco bank, prove financial self-sufficiency, secure accommodation, and have a clean criminal record.

Unless they are French nationals, resident individuals are not subject to personal income tax in the Principality of Monaco. There is no tax on investment income, capital gains, dividends or directors' fees in Monaco. There is no wealth tax or property tax.

What is the average rent in Monaco? ›

Not surprisingly, the most expensive apartments in the world are sold in Monaco. Renting an apartment costs an average of 3,500 euros per month. Add to this amount utilities bills of 400-700 euros and get the price of housing for rent in the amount of the average salary.

What is the Monaco average house price? According to the report, the Monaco average house price is around 5 to 10 million Euros, with one out of two transactions being for a property worth more than 3.2 million Euros.

BBC - Languages - Languages. 58% of the 30,000 inhabitants of Monaco speak the official language of French, 17% speak Ligurian, an Italian dialect, and 15% speak an Occitan dialect. English is also commonly used.

Tourist Application Requirements for a Monaco Visa

A visa is not required for this destination for a stay of up to 90 days in any 180 day period. Please keep in mind that while a visa is not required, you must: Hold a passport valid for at least six months beyond your date of country exit and with one blank visa page.

Financial and insurance activities, along with scientific- support-administrative, activities are the main contributors to the GDP of Monaco. Wholesale trades (10%), construction(9.1%) and real estate activities (7.8%) also contribute highly to the country's GDP.

Size of the Economy

The country's budget comes from taxes on industry, trade and services, a vibrant tourism sector, and several government-owned enterprises, most notably the country's famous casinos.

A family of four estimated monthly costs are 6,962.5$ (6,484.7€) without rent. A single person estimated monthly costs are 1,921.5$ (1,789.7€) without rent. Cost of living in Monaco is, on average, 60.8% higher than in United States. Rent in Monaco is, on average, 464.8% higher than in United States.

The main sources of income include stamp sales, taxes on alcohol and tobacco, and registration fees. The state imposes no income or direct personal or corporate taxes. Due to these relaxed tax laws, many international businesses are headquartered in Monaco.