Since the accession of H.S.H. the Prince initiatives have been conducted with a view to promoting economic activity and making company operations more transparent while maintaining a high level of ethics including:
- Creation of the legal status of Limited Liability Company
- Introduction of the general principle of the criminal liability of people
- Adoption of systems to combat money laundering, organised crime and corruption.
There are more than 6,000 businesses in Monaco operating in a wide range of sectors including international trade, banking and finance, other services, tourism, retail, real estate and construction, shipping, and yachting among others.
Businesses benefit from a moderate taxation system. There is no tax on profits for businesses if more than 75% of their turnover is made in the Principality;
The population of Monaco (2018) is 38,300, with a workforce of 56,871 (with 53,091 salaried employees in the private sector) at December, 2019 - with less than 4% unemployment - Monaco is an ideal place for you to pursue your professional life. Residents from 140 different nationalities are living together in Monaco.
Foreigners can occupy a private salaried position in Monaco providing they possess a work permit for the post they have acquired.
Approval is given for new businesses after scrutiny of the business plan, and consideration of the individuals involved in the project and the specific business areas in which the entity will operate.