Citizenship by investment is a process that allows individuals to acquire a second citizenship and passport by making a significant contribution to the economic development of a country. It is a legal and fast way to obtain dual nationality, expand your travel options, protect your assets, and enjoy a better quality of life. But, is it possible in Monaco?

One of the most desirable destinations for citizenship is Monaco, a sovereign city-state on the French Riviera. Monaco is known for its luxury lifestyle, casinos, Grand Prix, and tax haven status. It offers many benefits for its citizens, such as no income, wealth, property, or capital gains tax, visa-free travel within the EU Schengen area, a year-round sunny Mediterranean climate, safety, and excellent international schools.

Monaco citizenship is not easy. Many foreigners ask whether they could become citizens of Monaco just by investing in the country. In this post, MonacoAdvisers will share with you some reflections on Monaco citizenship, some tips, and the most important elements of getting Monaco citizenship.

What does citizenship mean?

Citizenship is used as a synonym for nationality in this post. In practice, it marks a legal status and relation between an individual and State establishing specific legal rights and duties.

However, from a purely technical and legal perspective, citizenship and nationality should be seen as two different terms, with a different meaning and scope.

Nationality should be understood as the fact of belonging to one State, which is generally marked by the place of birth, naturalization, or ancestry. On the other hand, citizenship is a narrower term referring to the country in which the individual has full rights as a result of a process.

Could a foreigner obtain citizenship in Monaco?

The Law in Monaco just limits the acquisition of the Monegasque citizenship to the following situations:

Paternal link

Children born to a Monegasque father may get the Monegasque citizenship.

Maternal link

A children may get the Monegasque citizenship if born:

• In Monaco with unknown parents; or
• Of a mother born in Monaco who still had this nationality on the day of birth; or
• Of a mother with Monegasque citizenship and Monegasque-born ascendants; or
• Of Monegasque mother having acquired Monegasque nationality by naturalization, by reintegration or by declaration of option.
• Of a mother who acquired Monegasque nationality by declaration following a simple adoption.

Marriage

Generally, the marriage between two people when one of them has the Monegasque citizenship does not affect the citizenship of the other partner. However, the wife or husband of a Monegasque individual may acquire Monegasque citizenship by declaration after ten years from the date of marriage to the extent:

• The relationship between the couple has not ceased at the time of application. This does not apply to widowhood situations not followed by a new marriage.
• The spouse has not acquired Monegasque nationality as a result of a previous marriage.
• The Monegasque spouse has retained their nationality at the time of the application.

Naturalization

Any person who had a residence in Monaco for at least ten years may apply for Monegasque citizenship. There are different ways to get a residency in Monaco, for instance: through employment; by setting up a business in Monaco; by making investments in Monaco; and as a retired individual.

Please note that getting citizenship through naturalization is not an automatic process. Naturalization falls within the discretionary power of the Sovereign Prince of Monaco, and, in any case, the naturalization is subject to compliance with the following conditions: exemption from the military obligation in the country of origin; and loss of previous nationality.

What role does an investment play at the time of opting for citizenship in Monaco?

Based on the above, it is clear that Monaco does not offer citizenship through investments in Monaco. However, investing in Monaco could be the gateway to Monegasque citizenship through naturalization.

Investing in Monaco qualifies for residency in the country. Keeping said residence for at least 10 years may allow the individual to opt for Monegasque citizenship.

Would the citizenship expire?

Upon getting the citizenship of Monaco, said citizenship would not expire. The individual would enjoy the citizenship for life.

What is the process to get a Monaco citizenship?

An application should be filed before the Directorate of Judicial Services. When the citizenship is applied under the naturalization process, said Directorate would be also in charge of submitting a report to the Sovereign Prince.

Please note that in case of opting for citizenship under naturalization, that would require that the applicant must have successfully passed the residency application process.

Finally, French Authorities are generally consulted on all requests that have been favorably received by the Sovereign Prince before the publication of the Sovereign Ordinance.

MonacoAdvisers has advised and helped several foreigners moving to Monaco and applying for citizenship under naturalization. Our presence and local contacts in Monaco make MonacoAdvisers the perfect partner to trust at the time addressing questions related to residence permits and citizenship in Monaco.

If you have any questions and would like to receive tailored advice on how to move to Monaco, you can write to us at o [email protected] or through the contact form.