How much money do you need in the bank to live in Monaco?

However, since 2017, a rule has been introduced that requires newcomers to make a minimum deposit of 500,000 euros in a Monegasque bank to obtain a bank certificate, necessary to obtain a resident card, if they do not work and do not generate money.

Some sources suggest that an annual income of at least €150,000 to €200,000 or more could be necessary to cover basic living expenses. However, if you want to live in a luxurious manner and own property in Monaco, you may need significantly more.

The amount of money you need to live in Monaco can vary widely depending on your lifestyle, housing, and other expenses. Monaco is known for its high cost of living, and having a substantial income or savings is advisable. To live comfortably, you may need several million dollars in savings or a high annual income. However, specific financial requirements can depend on individual circumstances and preferences.

Living in Monaco can be expensive. A substantial amount in the bank is advised, with estimates varying, but having a few million dollars is not uncommon for a comfortable lifestyle.

Monaco residency by investment

The investment requirements for a Monaco residency permit are: To purchase a property or rent a property in Monaco. To deposit and maintain at least EUR 500,000 into a bank that is duly registered in Monaco and in an account that is under the applicant's name.

Living in Monaco is expensive. A comfortable lifestyle may require a substantial amount, often in the millions, due to high living costs and real estate prices.