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…
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,…
DetailsEdit: Any token offering needs no longer be dedicated to qualified investors only or to less than one hundred and fifty (150) non-qualified investors. In addition, the relevant texts related to token offerings no longer provide for a definition of qualified investors. The label referred to in the Law can only be issued to token…
DetailsLaw n° 1.491 dated June 23rd, 2020 relating to token offerings (the “Law“), is part of a continued government approach to reforming digital laws. The purpose of this law is to allow fundraising carried out via a shared digital recording device (for example, the Blockchain technology) leading to an offering of tokens, counterpart of allocation…
DetailsMr. Martin Peronnet published a post on Linkedin on April 3, 2020 : “Acquisition of Vodafone Malta by Monaco Telecom” : “We are very pleased to announce that we have completed the transaction to acquire Vodafone Malta yesterday evening. After having successfully transformed Epic in Cyprus, this acquisition completes our strategy in a great way.…
DetailsThe Government, by a letter of April 25th, 2018 informed the Monaco parliament (“Conseil National”) of its decision to change the draft law n°232 relating to the creation of the right to a bank account from a parliamentary initiative to a Government initiative, draft law n° 991 (« Draft Law »). Tabled in public session on…
DetailsOn August 2nd, 2011 Law no. 1,383 on the Digital Economy was adopted with the aim of facilitating and securing the formation of contracts electronically (“Law 1.383“). One of the main contributions of this law was the introduction of an article 1163-1 of the Civil Code, which states that electronic writing is, under certain conditions,…
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