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Sovereign Ordinance n° 9.737 of February, 2nd 2023 amending Sovereign Ordinance n° 1.284 of September, 10th 2007 implementing Act n°1.338 of September, 7th 2007 on financial activities, as amended

Ordinance n°. 9,737 implementing Law n°. 1.338 of September 7th, 2007 on financial activities, as amended by Law n°. 1.529 of July, 29th 2022 (the “Law“), was published on February 10th 2023 in the “Journal de Monaco” (the “Ordinance“). Article 69 of the Constitution provides that Sovereign Laws and Ordinances may only be enforced against…

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Draft law n° 1.073 of November 18th, 2022 relating to vacation gifts

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…

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Law n° 1.529 on various economic and legal provisions

Amendments 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…

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Draft law n° 1.049, on various economic and legal provisions

Amendments 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…

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Draft law n°1054 on data protection

April 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…

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Law n° 1515 of January 7th 2022, amending Law n° 1.338 of September 7th 2007 on financial activities, as amended

January 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…

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Draft law amending the law No. 1.338 dated September 7th 2007 on financial activities, as amended

Tabled 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…

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Amendments to the laws on the fight against money laundering, corruption and the financing of terrorism

Law 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…

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The draft law on the regulation of the profession of property trader (“marchand de biens”)

Submitted 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…

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Residency cards in the Principality of Monaco

This 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…

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