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Monaco Relocation

Would I be able to keep my singapore bank account? (I know it's impossible for EU residents but not sure about non-EU)

Yes if you bank with HSBC Singapore for example.

Does the 500,000 EUR requirement must be in cash or can be in securities?

They look at it on a case by case basis. 500k in securities will not cut it I can tell you now. You must show you are able to sustain yourself and will never be a burden to the principality. You most important must show pre-arranged adequate accommodation. As you won't fall under Law 887 your money will be drained very quickly in Monaco on accommodation so check any cheap apartment you see online is not under Law 887 or 1291/1235.

I don't know your specific situation but you would need a Monaco bank reference to be successful. The authorities prefer if you provide a letter from a local bank in 2024 saying you have sufficient means to survive in Monaco as it makes the decision process easier from what I was told when I looked into it years ago. 500k in my opinion will not be enough to show you even have enough income from that to live on in Monaco in 2024. You will be at the back of the queue behind millionaires and billionaires.

You can check on governments own website latest requirements below. Don't rely on what third-party sites say as a lot has changed in 2024.



P.S If you show you will be of economic value to the principality that is helps also during in person interview.
 
Yes if you bank with HSBC Singapore for example.



They look at it on a case by case basis. 500k in securities will not cut it I can tell you now. You must show you are able to sustain yourself and will never be a burden to the principality. You most important must show pre-arranged adequate accommodation. As you won't fall under Law 887 your money will be drained very quickly in Monaco on accommodation so check any cheap apartment you see online is not under Law 887 or 1291/1235.

I don't know your specific situation but you would need a Monaco bank reference to be successful. The authorities prefer if you provide a letter from a local bank in 2024 saying you have sufficient means to survive in Monaco as it makes the decision process easier from what I was told when I looked into it years ago. 500k in my opinion will not be enough to show you even have enough income from that to live on in Monaco in 2024. You will be at the back of the queue behind millionaires and billionaires.

You can check on governments own website latest requirements below. Don't rely on what third-party sites say as a lot has changed in 2024.



P.S If you show you will be of economic value to the principality that is helps also during in person interview.
In addition to the above; in Monaco it is expected that you buy if you are a foreigner that comes to reside there with wealth.

Buying starts around 700-800k Euro. Besides that you need the substantial amount of wealth to provide for yourself. I'd say that with a wealth level of below 2,5M it doesnt make any sense to go there.
 

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