The Principality Of Monaco

Bi-lateral treaties with France only, e.g. taxation affecting French nationals / residents, VAT and customs.

A signatory of the European Union Directive on taxation of savings effective from 1st July 2005, under which EU residents’ earnings on savings in Monaco will be subject to a withholding tax, however no automatic exchange of information with EU member states will take place.

An approved state under the US Qualified Intermediary (QI) regulations, for the purpose of approving IRS intermediaries for US tax payers. The US IRS reviewed the Principality’s internal statutory controls and anti-money laundering regulations.

Personal taxation for foreign residents (other than French nationals) is very favourable. There is no taxation on : - Income - Capital Gains - Wealth - Real Estate, Including Rentals

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