In most of the cases, individuals who have a resident status are under the following tax system :
- no income tax
- no wealth tax
- no housing tax
- for the real estate owners, no property tax
- for the real estate owners who sell their goods, no capital gain tax
- in case of inheritance, no inheritance tax for the spouse, the husband, the children, the parents of the resident
In order to become resident, a decision from Monaco administration is mandatory.
It is necessary, to get a positive decision, to live at least 6 months
per year in Monaco and to own or to rent a property there.
A value added tax (V.A.T.) is at 5.5% on many services and
products, and at 19.6% on others.
V.A.T. is also applicable for property sales, but properties over 5 years old are exempt.
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