Guide to Property Taxes in Monaco
Tax Rate on Rental Income |
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| Monthly Income | €1,500 | €6,000 | €12,000 |
| Tax Rate | 0% | 0% | 0% |
Monaco did away with all forms of personal income tax in 1870.
Income Tax
Individuals do not pay tax on income. However, French nationals residing in Monaco are subject to French income taxes unless took residency in Monaco before 13. October 1957.
Rental Income
Rental agreements are taxed at 1% of the annual rent plus estimated service charges. This tax is payable by the tenant.
Capital Gains
There is no capital gains tax.
Property Tax
There are generally no property taxes in Monaco.
Corporate Tax
Monaco levies corporate income tax on business profits at a rate of 25%. However, this tax is only applied to companies that generate more than 25% of their turnover outside of Monaco.
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Transaction Costs |
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| Who Pays? | ||
| Transfer Tax | 4.50% - 6.50% | buyer |
| Notary's fees | 1.50% | buyer |
| Estate Agent's Fee | 0.00% - 3.00% 5.00% |
buyer seller |
| Costs paid by buyer | 6.00% - 11.00% | |
| Costs paid by seller | 5.00% | |
| ROUNDTRIP TRANSACTION COSTS | 11.00% - 16.00% | |
| Source: Global Property Guide, PWC, Deloitte | ||