Creating an SCI in Monaco: choosing the right strategy

Several types of civil societies governed by Monegasque law exist. Those concerned with the management of real estate assets are real estate companies (SCI). For your convenience, we will therefore refer to them as "SCI". Monegasque SCIs have a civil purpose and are therefore not intended to manage commercial affairs. We explain everything about their advantages, especially in terms of taxation.

What is the point of creating an SCI in Monaco?

The Monegasque SCI allows several people to acquire real estate while avoiding the known blockages of joint ownerships. The articles of association can thus limit or increase the powers of the manager to avoid blocking the other partners on certain decisions.

The Monegasque SCI is particularly suitable for organizing its succession. The shares are transferred and not the real estate. This gives the possibility, again, of avoiding the pitfalls of joint ownership. The real estate heritage is therefore preserved.

Fiscally, Monegasque residents benefit from an exemption from inheritance tax in the case of direct parentage (parents / children, spouses). The French are taxed between 5 and 45% in direct line. French residents can also benefit from this exemption. This is the case if they inherit shares in a Monegasque company that owns buildings in France, which belonged to a Monegasque resident. This results from a case law of the Court of Cassation of October 2, 2015.

What are the conditions for creating an SCI in Monaco?

Neither nationality nor Monegasque residence is required to constitute a Monegasque company. You can set up a company incorporated under Monegasque law by being of French nationality, or a French resident, for example.

Unlike commercial companies, the establishment of a civil society under Monegasque law does not also require prior authorization from the Monegasque authorities.

The Monegasque SCI implies the presence of at least two partners. The law does not impose any minimum share capital.

How to easily create an SCI in Monaco?

Monegasque civil societies are governed in particular by articles 1670 to 1711 of the Monegasque Civil Code. The signing of the articles of association takes place at a notary or under private signature. The drafting of the statutes is free. For example, you can decide to limit the manager's powers, provide for a specific system of transfers of units, etc.

The articles of association are subject to a registration formality with the competent authorities. The company must be entered in a special register kept by the Trade and Industry Directory Service (RCI Monaco).

Accounting obligations are reduced: a statement of income and expenditure must be kept at the head office.


Creating an SCI in Monaco makes it possible to optimize the management and transmission of its real estate assets. This option is offered even if you are neither of Monegasque nationality nor of residence. Real estate, property of the SCI, may very well be located in another territory such as France. Depending on each person's situation, different options should be taken into account. It is recommended that you seek professional advice beforehand to adapt your wealth strategy.


3 key points to remember:

● Possibility of creating a civil society under Monegasque law without condition of nationality or residence, without authorization from the Monegasque authorities;
● Strategic asset transfer tool thanks to the possibility of exemption from inheritance tax, including when the property is located in France;
● Flexible legal regime, simplified formalities and accounting.


1 – Éditions Francis Lefebvre « Succession d’un résident monégasque : les parts de SCI ne sont pas des immeubles ! » (Cour de Cassation. ass. plén. 2-10-2015 n° 14-14.256)
2 – LÉGIMONACO, codes et lois monégasques.!OpenDocument