Below is an outline of the basic steps necessary to set up a company:
- Apply for a Validation Certificate (Certificado de Admissibilidade) and for a Provisional Company Identity Card (Cartão Provisorio de Pessoa Collectiva) from the Registo Nacional de Pessoas Colectivas,RNPC
- Sign the deed of incorporation at a notary
- Apply for a Start of Activity Declaration (Declaração de Início de Actividade para Efeitos Fiscais) at the Tax Office (Direcção-Geral dos Impostos – DGCI). This must be done within 90 days of the Provisional Company Identity Card being issued
- Apply for registration of the company at the local Commercial Registry (Conservatórias do Registo Comercial), the registry will then organise the company’s publication in the Portuguese Official Journal (Diário da República).
- Register at the local Social Security regional centre
- Register with the Commercial or Industrial Records Office (Cadastro Comercial or Industrial) at the Directorate-General of Enterprise (DGE) or the local regional office of the Ministry of Economy within 30 days
To set up Monaco Company this is known as ‘incorporation’, you’ll need:
- Register of Commerce and Industry handles all applications for establishing companies. The government of Monaco requires that the following documents be filed along with an application to become a SARL:
- Applicant’s birth certificate;
- Applicant’s police record prepared within the past three months;
- Copy of applicant’s national identity card (passport, driver’s license, or national ID card);
- Curriculum Vitae (CV) of the applicant;
- Two copies of the Articles of Association;
- Three copies of a special form containing personal information of each shareholder;
- Summary of the types of business activities and an estimated first three year turnover;
- Formal application detailing the proposed business activities in Monaco; and
- Copy of office lease agreement.Corporate shareholders must provide the following documents:
- Certificate of Incorporation issued by the commercial registry of the country the corporation was formed; and
- Board of Directors resolution subscribing at least the required minimum capital for the SARL
Send your company details to Novasigma or schedule a meeting before incorporation. Remote company registration in Monaco available for all nationalities.
Upon approval, the Register of Commerce and Industry office issues a Certificate of Incorporation with a unique identification number so the SARL can begin conducting business After the registration, you should hire an accountant.
Domicile your company
It will be first of all to find a place to domicile the activity. To facilitate the investigations, one can approach a private real estate agency or make a request to the Monegasque Real Estate Chamber. Many business centers also offer an alternative hosting for a fixed period, the time to manage this real estate.
Register your company
In parallel, it is requested to address the issue of advertising and registration of the company in the Directory of Trade and Industry (Répertoire du Commerce et de l’Industrie – RCI). This applies to individuals carrying on business as well as companies, excluding companies of a civil nature and economic interest groups. A Statistical Identification Number (Numéro d’Identification Statistique – N.I.S.) will then be assigned by the Monegasque Institute of Statistics and Economic Studies (Institut Monégasque de la Statistique et des Études Économiques – IMSEE) to each economic entity to determine its main activity.
Declare your company
Any company created on Monegasque territory must imperatively be declared to the Tax Division (Direction des Services Fiscaux). This mandatory and free formality is carried out on site, at the counter of the Tax Division.
Get closer to social organizations
Membership in social organizations is the last mandatory step in this protocol. Any individual exercising a self-employed activity in the Principality must join the Health Insurance Fund for Self-Employed Workers (Caisse d’Assurance Maladie pour Travailleurs Indépendants – CAMTI) and the Autonomous Pension Fund for Self-Employed Workers (Caisse Autonome des Retraites pour Travailleurs Indépendants- CARTI). The application for membership must be submitted to the Caisses Sociales de la Principauté.
In order to recruit staff, any new Monegasque employer must approach the Employment Service (Service de l’Emploi) and set up an “employer file”. The Service provides a personalized help system for future hires. He is also responsible for detailing the legal information related to the recruitment and management of staff, as well as handing over the documents required by social organizations to obtain an affiliation number.
