Moving to Monaco. Things to consider before you immigrate to Monaco

Being one of the richest states in the world, many people dream about immigrating to Monaco. Whether you are moving to Monaco alone or with your family, through our platform you always get the lowest quotes and the best services for international removals to Monaco. Explore the shipping options we offer for moving house to Monaco and check the visa regulations, property information and cost of living in Monaco as an expat.

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THE BASICS

Things to know when moving to Monaco

Monaco is associated with the warm sea, yachts, expensive real estate property, and luxurious lifestyle, which make up an attractive image of the country. Although it might be challenging to immigrate to Monaco, many expats are relocating to Monaco from the USA or other European countries and neighbouring states. Check the basic facts about living in Monaco and discover the most convenient and reliable services for international removals to Monaco with Eurosender.
Location:
Europe
Timezone
UTC +1
Currency
Euro (EUR)
Population
38,300
Official Language
French
Dialling code
+377
Emergency number
112
Driving
On the right side

BEFORE MOVING

The cost of moving to Monaco. International removals to Monaco with Eurosender

Eurosender offers affordable and reliable international removal services for relocating to Monaco. Send furniture, clothes and personal belongings abroad:

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Van Service

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Visa regulations for Monaco

The citizens of the EU, the EEA, Switzerland, and some other countries do not need any visa to enter the country, while a Schengen area visa is usually required for those coming from outside of these territories.

People relocating from the USA to Monaco or moving from overseas for a long-term stay in the principality should collect all the necessary documents and apply for a corresponding visa in a local French consulate.

The most common types of visa expats apply for before moving to Monaco are as follows:

  • Business visa – when moving to Monaco for business purposes.
  • Student visa – students that wish to attend any type of educational institutions, for a period shorter than three months, can apply for this type of visa.
  • Family reunion visa – people who have family members legally residing in the Schengen area, can apply for this visa.
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Property information. Rentals in Monaco

Monaco is the most expensive city in the world when it comes to real estate. The prices for real estate properties in Monaco are incredibly high. The cost of 1 square metre can be more than €70,000 in the elite or central regions of the country. Despite this, wealthy people tend to buy real estate property in Monaco because of the mild Mediterranean climate and luxurious way of life in Monaco. Consider that purchasing a property in Monaco does not guarantee a permanent residence permit or citizenship.

There are two types of rental markets in the country – private and state-owned. The second option is primarily available to Monegasque people, so the cost of apartment rental can be twice lower for them compared to that for immigrants moving to Monaco from abroad. The average renting cost for a one-bedroom apartment in Monaco is €3,000 per month, while a bigger apartment for a family with three bedrooms will be around €10,000-15,000 per month.


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LIVING IN MONACO

The cost of living in Monaco

If you are going to immigrate to Monaco, consider that living there is more expensive than in some other European countries. While the prices for products in supermarkets are acceptable, the main item of expenditure is the apartment rental. The minimum amount required by the Monaco government for a residency application is €500,000 per person. A meal for two people will cost you around €140, while basic utilities will cost €190 per month.

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The job market in Monaco. Job vacancies in Monaco for foreigners

The main source of income in Monaco constitutes in foreign investments, while finance, banking, and tourism sectors are the industries which offer the majority of workplaces in the country. Those who want to immigrate to Monaco for employment purposes will find it hard to do so because the country prioritises Monegasque people and French nationals.

The minimum monthly salary rate in Monaco is about €2,000, which is not enough to cover the basic cost of living in this costly country. Qualified workers in Monaco, specifically in the finance and technological sectors, usually earn around €7,000 monthly.


Schools and education in Monaco

The education system of Monaco is very similar to the French one. Children start attending school at the age of 6 and proceed with higher education upon graduation.

There are six state-owned schools, a secondary school, and two upper secondary educational institutions in Monaco. A very particular feature of a state school in the country is that the lessons of Monegasque language and culture are obligatorily included in the curricula. That way, the authorities of Monaco want to make sure that the native language and culture of Monaco state will not get extinct. Expats immigrating to Monaco with children sometimes prefer private schools which would be more suitable for foreigners.

Preschool
Age: 3 – 5
Compulsory: no
Elementary School
Age: 6 – 10
Compulsory: yes
Secondary School
Age: 11-15
Compulsory: yes

Healthcare in Monaco

The healthcare system in Monaco functions based on state funding and contributions by employers and employees. Basic healthcare coverage is valid for casual medical services and drug prescriptions, while dental care, for instance, requires either additional healthcare insurance policy or out-of-pocket payments.

The quality of healthcare services in Monaco is above excellent. Given that the country is very small, there are only three healthcare institutions. Princess Grace Hospital Centre is the most popular among expats living in Monaco.


Driving in Monaco. Should I get a driving licence for Monaco?

Driving in Monaco is not highly recommended because the traffic is really heavy. If you prefer driving in Monaco, you have one year to exchange your driver’s license for the local one.

Given that it is possible to cross Monaco on foot in about 2 hours, walking is highly advisable in this country. You can get from one place to another in a couple of minutes. Some people choose a bicycle as their main transportation mean, while others prefer the public transportation system, including buses and taxis.

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What else to know about living in Monaco as an expat

We have gathered some more advantages and disadvantages of living in Monaco:

  • In Monaco, there are no taxes related to one’s enrichment or luxury. Therefore, many famous and wealthy people prefer living in Monaco.
  • Monaco is famous for its extra safe environment. The whole territory of the principality is covered with cameras which help police officers to keep the situation under control.
  • Opening a bank account in Monaco can be tough because a deposit of €100,000 is requested by doing so. Moreover, there are no typical mobile applications for banking in Monaco, but you will get a personal banker instead.

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MOVING DESTINATIONS

The most popular countries from where people relocate to Monaco

Moving to Monaco from France

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Moving to Monaco from Italy

Thinking about immigrating to Monaco from Italy? Eurosender can become your reliable logistics partner. Book services for international removals to Monaco through Eurosender and send packages, suitcases or pallets and get the most affordable cost of moving house to Monaco. With Eurosender you can rest assured, they will arrive in the shortest time possible and in one piece.

Moving to Monaco from the United Kingdom

Eurosender offers exclusive shipping services for expats and international students who are moving to Monaco from the UK and other countries. When using Eurosender platform, you can instantly discover average shipping costs and book services in just a few minutes. Eurosender offers lower than the average moving costs to Monaco along with a fast booking process on our easy-to-use online platform.


Disclaimer: All information on this page is true and correct as of 11.03.2020 and is subject to change at any time. Eurosender is not responsible for any updates or changes to any information on this page or actions taken by parties as a result of outdated information. Nevertheless, we do our best to keep all information across our website as current as possible.