City guide

🇲🇨 Living in Monaco

0% income tax, Mediterranean lifestyle, French Riviera — the ultimate tax-free destination

At a glance

Population

39,000

Currency

EUR

Avg. salary

€60,000–€150,000+

Effective tax

0% (social contributions only)

Climate

Mediterranean

Tax regime

0% personal income tax (residents)

Nomad visa

—

Net salary calculator

Calculate your take-home pay in Monaco with our detailed tax calculator.

Calculate net salary →

Cost of living

Rent (1-bed, center)	€3,500/mo
Rent (1-bed, suburb)	€2,800/mo
Groceries (single)	€500/mo
Groceries (family)	€1,100/mo
Transport pass	€30/mo
Restaurant (2 people, mid-range)	€100
Coffee	€5.00
Gym membership	€80/mo
Healthcare	Mandatory CCSS system, high-quality private clinics available

Frugal

€4,500

/month

Moderate

€6,500

/month

Comfortable

€10,000

/month

Budget calculator

Build a detailed monthly budget for Monaco based on your lifestyle.

Build your budget →

Why choose Monaco?

0% personal income tax for residents (since 1869)

Mediterranean climate, 300+ days of sunshine per year

Safest place in the world — 1 police officer per 100 residents

French-speaking, 10 min from Nice, 2h from Milan

World-class events — F1 Grand Prix, Monte-Carlo Rally, Yacht Show

International community — residents from 140+ nationalities

Quality of life

Overall

Safety

Healthcare

9.5

Education

Air Quality

8.5

Expat Community

English Proficiency

Moving to Monaco : checklist

1 Secure accommodation in Monaco (required for residency)
2 Deposit ~€500,000+ in a Monaco bank account
3 Apply for Monaco residence card at Sûreté Publique
4 Register with CCSS (social security)
5 Open bank account (CMB, CFM, Barclays Monaco)
6 Note: French nationals remain subject to French tax

Frequently asked questions

What is the cost of living in Monaco? +

Monaco is the most expensive city in Europe. Expect €4,500–6,500/month minimum for a single person. 1-bed apartments start at €3,500/month in the center. However, with 0% income tax, high earners keep significantly more of their income.

How much tax will I pay in Monaco? +

Zero personal income tax for Monaco residents. You only pay social contributions (~9% for employees). Important exception: French nationals residing in Monaco are still subject to French income tax under the 1963 bilateral convention.

How do I get residency in Monaco? +

You need to: (1) rent or own property in Monaco, (2) deposit approximately €500,000+ in a Monaco bank, (3) provide clean criminal record, (4) apply at the Sûreté Publique. EU citizens have an easier process. The minimum financial requirement ensures only high-net-worth individuals relocate.

Is Monaco good for families? +

Yes — Monaco is extremely safe, has excellent international schools (ISM, FANB), good healthcare, and a strong community. However, apartments are small and expensive, so families typically need a larger budget.