Buying property in Monaco: fees, notary fees and taxes
What budget should you really plan for beyond the price of an apartment in Monaco? Registration fees, notary fees, agency fees, buying new, ownership structure and taxation: several parameters must be examined before formalizing an offer.
In a market where a property acquisition can represent several million or tens of millions of euros, the advertised price of an apartment is not the final budget for the operation.
In Monaco, the costs depend in particular on the nature of the property, its tax regime, the quality of the buyer and the legal structure used to hold the property.
A buyer must therefore consider the overall cost of acquisition and not just the price per square meter.
Registration fees have notably changed as of October 1, 2023. Many older pieces of content available on the Internet still mention the previous rate of 4.50%.
This document provides general information. International taxation and the choice of a holding structure depend on each buyer's personal circumstances and should be discussed with a qualified notary, lawyer, or tax advisor.
🇲🇨 How much do property purchase costs cost in Monaco?
For the acquisition of an existing property by a natural person, or within the framework of a Monegasque civil society meeting the legal conditions of transparency, the applicable proportional duty is 4.75%.
In addition to these taxes, there are the fees and expenses related to the notary's services. Based on price levels in Monaco, the market generally accepts a figure of around 1.5% for the proportional notary fee.
The whole thing leads to retaining about 6.25% of the price for a classic acquisition in the old, before any agency fees, financing and specific costs of the file.
💶 The price of the property is only the first line item in the budget
To understand the true cost of an acquisition, it is necessary to distinguish several items that do not have the same nature or the same beneficiary.
Agency fees should therefore not be confused with "notary fees". They constitute a separate item in the cost of the acquisition.
🧮 What does 6.25% represent on a luxury property?
A few examples allow us to immediately measure the impact of fees and charges on a buyer's budget. These simulations only use an overall indicative rate of 6.25%, excluding agency fees and financing.
In the context of ultra-prime Monegasque real estate, the difference between the price of the property and the total cost of the operation can therefore represent several hundred thousand, or even more than one million euros.
⚖️ What is the role of the notary during a purchase in Monaco?
The notary's role is not limited to collecting acquisition fees. The notary legally secures the transfer of ownership and draws up the authentic deed transferring the property.
✍️ Purchase offer and deposit: do not automatically transpose French reflexes
The Monegasque market has its own customs and legal environment. Therefore, drafting a purchase offer must be taken seriously from the outset.
A deposit, typically representing around 10% of the price, may accompany the preliminary contract or be made according to the terms stipulated in the transaction. It constitutes an advance payment, not an additional cost.
Conditions precedent, particularly when financing is required, must be examined before signing. It would be unwise to assume that French protection or withdrawal mechanisms automatically apply to an acquisition made in the Principality.
🏛️ Why is the acquisition structure crucial?
Monegasque legislation distinguishes transactions according to the nature of the purchaser and the transparency of the structures used.
The subject is particularly important in luxury real estate, where international buyers may be tempted to use a company or asset management structure.
For certain transactions falling under Article 13 bis of Law No. 580, the proportional tax rate remains at 7.50%. Transactions carried out for the benefit of certain entities whose beneficial owners do not meet the transparency criteria stipulated by law are subject to a rate of 10%.
The practical consequence is simple: the ownership structure must be determined before the acquisition with a qualified professional. A solution suitable for one buyer may be completely unsuitable for another.
🏗️ Buying a new or off-plan apartment in Monaco
New real estate and transactions subject to VAT fall under a different regime than that of a classic resale.
Since the tax reform applicable to deeds registered from October 1, 2023, real estate transactions subject to VAT benefit, under the conditions provided by law, from an exemption of half of the applicable registration fees.
This difference can represent a considerable sum in Monaco's ultra-prime programs. However, it should not lead to comparing two properties solely on their acquisition costs: price, location, amenities, size, and asset value remain crucial factors.
💼 What are the tax implications for a property owner in Monaco?
Monaco's personal income tax system is often presented as one of the Principality's attractions. However, it must be described precisely and without confusing real estate ownership, Monegasque residency, and tax residency.
These principles relate to the tax framework of the Principality. They do not mean that an international property owner is automatically exempt from all tax obligations in their country of residence or nationality.
Purchasing an apartment in Monaco does not, in itself, change a buyer's tax residence.
🇫🇷 The special case of French nationals
The situation of French nationals deserves special attention due to the agreements concluded between France and Monaco.
The general principle of no Monegasque income tax should therefore not be mechanically applied to a French national wishing to settle in the Principality.
The situation depends in particular on the history of the person's residence and the applicable treaty provisions.
For a French buyer considering both a property purchase and a change of residence, a prior tax analysis is essential.
👨👩👧 Real estate in Monaco: what about inheritances?
Monegasque inheritance or gift taxes apply to assets located in the Principality or which have their tax base there, subject in particular to applicable international conventions.
The rate depends on the degree of kinship. The Monegasque framework notably provides for the following levels:
In international situations, the location of assets, the residence of the deceased and heirs, and applicable conventions must be examined. France and Monaco, in particular, have specific inheritance laws.
🏠 Does buying property in Monaco automatically grant the right to residency?
No. Real estate ownership and residency permits are two separate issues.
The deed of ownership can be used to justify the availability of accommodation in Monaco in the context of a resident card application, but it is not sufficient on its own.
The applicant must meet the various administrative conditions applicable to their profile, particularly with regard to housing, resources and residency.
🔍 What should you check before signing for a property in Monaco?
In a market where scarcity can accelerate decisions, a buyer should not neglect the legal and financial analysis of the property.
🌍 Should a foreign buyer anticipate their original tax liability?
Yes. It's actually one of the most important points for an international buyer.
The absence of certain taxes in the Principality does not automatically neutralize the tax rules of the country in which the purchaser remains a tax resident, nor the international conventions that may apply.
Global real estate assets, potential rental income, inheritance, donation, corporate structure and change of residence may be treated differently depending on the country.
The Monegasque acquisition must therefore be considered as a component of a global international heritage, and not as an isolated operation.
🏢 Are you a real estate agency in Monaco?
Propriétés De Charme is currently developing its presence in the Monegasque market and wishes to welcome agencies in the Principality that market apartments, penthouses, villas and prestigious properties.
Buyers interested in Monaco naturally seek information on prices, neighborhoods, acquisition costs, residences, and iconic buildings.
This editorial dossier is specifically designed to support this research while giving Monegasque professionals a new environment for visibility for their mandates.
🔄 Monaco Agencies: Publish your listings without re-entering data
Propriétés De Charme has several connections with real estate software and multi-distribution solutions used by professionals.
Apimo is of particular interest to Monaco given its established presence within the Principality's real estate ecosystem. Agencies already using the platform can contact Propriétés De Charme to explore activating its distribution.
🇲🇨 Luxury real estate dossier in Monaco
This article, dedicated to acquisition costs, notary fees and taxation, constitutes the third part of the Monaco dossier by Propriétés De Charme.
Find other guides dedicated to the real estate market in the Principality.
Monaco professionals: let's work together to increase the visibility of your listings
Are you a real estate agency based in Monaco and selling apartments, penthouses or luxury properties?
Propriétés De Charme is developing its dossier dedicated to the Principality and at the same time wishes to enrich its offer of Monegasque properties offered by local professionals.
Legimonaco — Law No. 580 of July 29, 1953, in its version in force in September 2026. Registration fees and proportional regimes applicable in particular to real estate transfers.
Consult Law No. 580 on Legimonaco
Law No. 1.548 of July 6, 2023. Reform which notably increased to 4.75% the rate applicable to the operations concerned, with application to deeds presented for registration from October 1, 2023.
Consult the tax law of July 6, 2023
Legimonaco — Law No. 842 of March 1, 1968, as amended. Regime of registration duties applicable to real estate transactions subject to VAT.
Sovereign Ordinance No. 15.252 of February 13, 2002. Regulated tariff of notaries in the Principality.
Princely Government of Monaco — Monaco Welcome & Business Office. Information regarding the tax framework for individuals and settling in the Principality.
Consult MonServicePublic Monaco
Monaco Real Estate Chamber. Published professional rates, including the buyer's rate applicable to property sales.
Consult the rates of the Monaco Real Estate Chamber
Important: The percentages and examples presented in this article are for informational purposes only. A precise calculation must be prepared by the notary, and the international tax implications must be assessed according to the buyer's individual circumstances.