Residency by Investment – Introduction
Monaco - Residency by Investment
Residency is a legal status offered to someone who is not an actual citizen of the country. This visa status gives the individual multiple benefits like the right to study, work, live and access healthcare in the nation. It is also commonly considered a way to achieve citizenship by naturalization, given the person resides in the country for a given period.
Because of its flexibility, many countries offer Residency by Investment program. It is a way for someone to get residency status in exchange for an investment made towards the economy of the country. The applications of people who opt for this mode are usually quickly processed.
Being able to reside in multiple countries is a personal and professional advantage that all high-net-worth individuals wait to grab hold of.
Such options are also called Golden Visa Programs, and a lot of countries within the European Union offer this right now. If you want to reside in another country as a resident and have the capacity to invest in the economy of the nation, then Residency by Investment may be the perfect way to achieve this.
Get in touch with VLinks Group to know how best to make use of the Residency by Investment opportunity.
Monaco
The Principality of Monaco is a country on the French Riviera that is considered one of the wealthiest nations in the world. Citizens of the country benefit from policies like no individual taxes, meager business taxes, a year-round pleasant climate, safe location, and high-end facilities.
Monaco is well-connected to other European countries, and more than 30% of its residents are millionaires. The golden visa program of this country gives high-net-worth individuals a healthy environment to stay in at competitive pricing.
Why opt for Monaco Residency?
- Reside in a country filled with investors, wealthy families, and VIPs.
- Monaco is a tax haven and poses no personal income taxes for its residents.
- You get the right to study, work, travel, and do business in Monaco as a resident.
- You can include your spouse and minor children (under 16) in the application.
- You are eligible for citizenship after residing for ten full years in Monaco.
Investment Options
Unlike other countries, you will not be required to make deposits or donations to get your residency status. All that is needed is to show that you have enough funds to live in the country without working. You may have to deposit considerable money in a Monaco Bank and show the letter of evidence as proof.
Please note that there are no minimum deposits required. The average is about EUR 500,000. The more the deposit, the better it is for your application.
Application process
- Contact VLinks Group and express your interest in obtaining a Monacan Residency by Investment.
- Collect the required documents, including proof of money deposited in a Monaco bank, proof of good conduct, and proof of available accommodation in the country.
- Submit the documents and application to the Monacan authority.
- You should receive your temporary residency card that is valid for 12 months. This can be extended two more years.
- Apply for an ordinary residence card that can be extended and used for six additional years in total.
Processing time
If you are a non-European citizen, it may take 4-5 months to process your application.
Citizenship eligibility
After living in Monaco for nine years (3 years with a temporary residence card and 6 years with an ordinary residence card), you can get your privileged residence card that is valid for ten years. You can apply for citizenship after this.