We have all heard at some point about Limited Liability Companies, these entities are characterized by being a commercial company in which the liability is limited to the capital that was approved.

In these companies, in the event that they contract debts, they do not respond with the personal assets of the partners, but with the one contributed in said limited company.

In Monaco, Limited Liability Companies can only be constituted by foreigners with the prior approval of the Government of Monaco. Although it may impress that the minimum paid-up capital for this entity is 15,000 EUR, it is ten times less than that required for a SAM.

Directors of the LLC may also be foreigners, but they must obtain authorization from the Government before compliance is completely legal. 

When registering a Monaco Limited Liability Company, they must only carry out the business activity stated in the incorporation forms, that is, they cannot expand the business to other areas with that same license.

When your LLC is consolidated, the Memorandum of Association must be made, which is a contract between the shareholders and includes the activities of the company, the registered office, detailed information of the shareholder and director, share capital and method of distribution of profits.

Annual filings

In Monaco companies are usually closely monitored, consolidated entities must file an annual tax return. They must also appear before the register of companies whenever there is a change in the details of the company, its functions and its employees.

As Monaco is a luxurious place, it receives a lot of attention from foreign investors, but it should also be mentioned the high cost of living that is carried in this jurisdiction. If you are ready to Venture into this coast over looking the Mediterranean Foster Swiss can advise you.

We help you in practically everything, we provide you with personalized advice from the moment you choose a corporate structure for your company, until even one year after you have incorporated your company and we take care of the whole process for you.

For more information on this topic or any requirement related to our services, you can contact us directly through info@fosterswiss.com