Monaco expat tax guide
Europe · how a foreigner who moves to Monaco is taxed · 2026 · Very expat-friendly
If you move to Monaco, you become a tax resident when hold a residence card and spend 183+ days/year in Monaco, or make it your main home. As a resident you are taxed on a territorial basis — Monaco levies no personal income tax on resident individuals regardless of where income arises, so a non-French mover-in has effectively nothing to declare on worldwide income. The top personal income tax rate is 0% (no personal income tax). A foreign pension is treated as: Not taxed in Monaco (no personal income tax); a foreign pension may still be taxed at source by the paying country. Monaco has no special expat or retiree tax regime, so movers are taxed under the ordinary rules. It lacks a US tax treaty and lacks a US totalization agreement. Overall it reads as very expat-friendly for an inbound mover. General information, not tax advice — verify with Monaco's tax authority.
Source: PwC Worldwide Tax Summaries. Data as of June 2026.
Monaco expat tax at a glance
| Question | Monaco (2026) |
|---|---|
| When you become tax resident | Hold a residence card and spend 183+ days/year in Monaco, or make it your main home |
| Residency day-count trigger | 183 days |
| How residents are taxed | Territorial — Monaco levies no personal income tax on resident individuals regardless of where income arises, so a non-French mover-in has effectively nothing to declare on worldwide income. |
| Top personal income tax rate | 0% (no personal income tax) |
| Foreign pension treatment | Not taxed in Monaco (no personal income tax); a foreign pension may still be taxed at source by the paying country |
| Foreign capital gains / dividends | Not taxed — Monaco has no capital gains tax and no wealth tax for residents |
| Special expat / non-dom / retiree regime | None |
| US income tax treaty | No |
| US social-security totalization | No |
Source: PwC Worldwide Tax Summaries. Data as of June 2026.
Compiled from the primary source for Monaco, cross-checked against PwC Worldwide Tax Summaries, the OECD, the IRS US-treaty list and the SSA totalization list. Rules change — confirm with the official tax authority. This is not tax advice.
What this means if you relocate to Monaco
The first thing that matters is tax residency: hold a residence card and spend 183+ days/year in Monaco, or make it your main home. The 183-day line is the headline trigger, but a home, family or business ties can make you resident sooner — so counting days alone is risky.
Once resident, Monaco largely leaves foreign income alone (territorial basis), which is why it appears on lists of friendly destinations for expats and remote workers. Crucially, Monaco charges no personal income tax on individuals, so salaries, pensions and gains are not taxed locally.
Foreign pensions and investments
Foreign pension: Not taxed in Monaco (no personal income tax); a foreign pension may still be taxed at source by the paying country. Foreign capital gains and dividends: Not taxed — Monaco has no capital gains tax and no wealth tax for residents. These outcomes can be overridden by a double-tax treaty, which decides whether the source country or Monaco taxes each stream — a key reason retirees should map their specific income against the relevant treaty.
US citizens and social security in Monaco
| Question | Monaco |
|---|---|
| US income tax treaty? | No |
| US social-security totalization agreement? | No |
| Tax basis for residents | Territorial |
| Top personal income tax | 0% (no personal income tax) |
There is no US tax treaty with Monaco, so US citizens rely on the Foreign Tax Credit (and the Foreign Earned Income Exclusion) under US domestic law to soften double taxation. With no totalization agreement, you can be exposed to social-security-type charges in both the US and Monaco. See our guides on FEIE vs the Foreign Tax Credit and totalization agreements.
Countries with a similar expat-tax profile to Monaco
| Country | Tax basis | Top income tax | Special regime |
|---|---|---|---|
| Monaco (this country) | Territorial | 0% (no personal income tax) | None |
| Bermuda | Territorial | 0% (no personal income tax) | None |
| British Virgin Islands | Territorial | 0% (no personal income tax) | None |
| United Arab Emirates | Territorial | 0% (no personal income tax) | None |
| Qatar | Territorial | 0% (no personal income tax) | None |
| Saudi Arabia | Territorial | 0% (no personal income tax) | None |
Frequently asked questions
When do you become a tax resident of Monaco?
Hold a residence card and spend 183+ days/year in Monaco, or make it your main home. The headline trigger is 183 days. Once resident, Monaco taxes you on local-source income only (foreign income is generally outside scope). This is general information for 2026, not tax advice — verify with the official authority.
How does Monaco tax a foreign pension?
Not taxed in Monaco (no personal income tax); a foreign pension may still be taxed at source by the paying country. Tax treaties can reassign who taxes a pension, so the outcome depends on your nationality and the source country. Confirm with a cross-border adviser before relying on this.
Does Monaco have a special expat tax regime?
No. Monaco has no dedicated expat, non-dom or retiree income-tax regime in our dataset — a mover is taxed under the ordinary rules (territorial basis, top rate 0% (no personal income tax)).
Is Monaco good for US citizens or retirees?
Monaco does not have a US income tax treaty and does not have a US social-security totalization agreement. Without a totalization agreement, you can owe social-security-type contributions in both the US and here. US citizens are taxed on worldwide income wherever they live, but the Foreign Earned Income Exclusion and Foreign Tax Credit usually prevent double income tax. Not tax advice.
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Sources & accuracy
Profile for Monaco compiled from its primary source, cross-checked with PwC Worldwide Tax Summaries, the OECD, the IRS US-treaty list and the SSA totalization list. Critical exception: under the 1963 Franco-Monegasque convention, French nationals who took up Monaco residency after 1962 remain liable to FRENCH income tax on worldwide income, so Monaco's 0% does not apply to them. No US income tax treaty and no US totalization agreement. Data as of June 2026 (2026 position). This page is general information, not tax advice — tax residency and special regimes are fact-specific and change often, so verify with Monaco's official tax authority and a qualified cross-border adviser before acting. See our methodology and disclaimer.
Last updated: 2026-06-21