January 2023 Tabled in Public Session on December 5th, 2022, Draft law n° 1.073 relating to vacation gifts (“The Draft law”), is currently being examined by the Parliament’s Committee for Social Interests and Miscellaneous Affairs. The Draft law is based on an initiative from the Economic, Social and Environmental Council, concerned that a paid vacation…
DetailsAmendments to Law n° 1.338 of September 7th, 2007 on financial activities, as amended August 2022 Law n° 1.529 on various economic and legal provisions was published on August 12th, 2022 in the Journal de Monaco (the “Law”). Article 69 of the Constitution provides that Laws and Sovereign Orders may only be invoked against third…
DetailsAmendments to Law n° 1.338 of September 7th, 2007 on financial activities, as amended July 2022 Tabled in Public Session on November 24th 2021, Draft law n° 1.049 on various economic and legal provisions was voted in Extraordinary Public Session on July 27th, 2022 (the “Draft Law”), and will result, in the following weeks, with…
DetailsApril 11th, 2022 The draft law n°1054 on the protection of personal data aims to refer not only to the requirements of the Convention 108+ of the Council of Europe (the modernised version of Convention 108) but also to the European data protection package Data Protection Package” adopted by the European Parliament and the Council…
DetailsJanuary 2022 The draft law n° 1.035 amending Law n° 1.338 of September 7th 2007 on financial activities (“Law 1.338“), which was tabled in Public Session on May 10th 2021, was voted in Public Session on December 15th 2021, leading to the enactment of Law n° 1515 of January 7th 2022 amending Law n° 1.338…
DetailsTabled in public session on May 10th 2021, draft law No. 1.035 amending law No. 1.338 of September 7th 2007 on financial activities(“Law 1.338“)., as amended (the “Draft Law“) is currently being examined by the Monaco Parliament (“Conseil National”) Finance and National Economy Committee. The objective of the Government of Monaco is to place Monaco…
DetailsLaw n°1.503 of December 23rd, 2020 (« Law n°1.503 »), together with its implementing Sovereign Order n°8.634 of April 29th, 2021 (« Order n°8.634 »), added and reinforced the existing Monegasque arsenal in terms of the fight against money laundering, corruption and the financing of terrorism. These amendments contribute to the objective of global transparency of the economic and…
DetailsSubmitted to the Public Session on October 15th, 2020, the draft law on the regulation of the profession of property trader (the “Draft Law“) has been examined since February 3rd, 2021 by the Finance and National Economy Committee of the Parliament. The parliamentary report on the Draft Law sets out four major objectives: to make…
DetailsThis note aims at summarising the procedures for obtaining a residency card in the Principality of Monaco, to provide a general guideline on the subject without being exhaustive. The procedure summarised below is also applicable under certain conditions to nationals of countries outside the European Economic Area, but they must first be holders of a…
DetailsWe commented the draft law relating to the establishment of a right to a bank account in the Principality of Monaco, on our website « http://www.alfa-monaco.mc/en/the-right-to-a-bank-account-in-monaco/ », a draft that had been submitted to a Public Session in order to draw the consequences of a reality: opening an account with a credit institution is now essential,…
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