The principality of Monaco is very famous worldwide for being one of the preferred wealth management destinations. However, due to its introduction within the French banking system, Monaco is now asked by the French tax authorities (but not only the French one) to disclose the name of the people owing an offshore bank account in the city-state. But for many other people with a different citizenship Monaco still remains an international must for high level of wealth management.
The quality of the banking services and products available in Monaco are among the best worldwide. An experienced personal advisor will guide you and make sure that your tax optimization strategy will be efficient and that all products you will subscribe will guarantee you high performance and discretion. Confidentiality is always guarantee in Monaco and will always be for you, your fund or your trust. However, incorporating an offshore company in Monaco is not so interesting.
At FCBA Offshore Ltd, we are used to say that: “opening an offshore bank account to one of our clients in Monaco is an event which needs to be celebrated”. Actually, due to the exclusiveness of the place and it’s difficult accessibility very often banks there are requesting our clients to visit them in person in their office.
However, to open an offshore bank account or to incorporate an offshore company in Monaco is not that easy but thanks to our experience, our network and our partnerships with local banks we should be able to help you if and only if your profile is up to the jurisdiction.
Finally, be aware of the fact that the initial deposit required by the banks is quite big and this could prevent you from opening an offshore bank account or from having an easy and fast running business.