What's the requirement to relocate to Monaco?

[I'mRobot]

I got inspired by the mentor group thread here

https://www.offshorecorptalk.com/threads/will-my-plan-work-to-avoid-taxes-for-the-next-15-years.41759/

Sorry @EliasIT hope it is okay to refer to your thread! Someone in there suggested that relocating to Monaco is an option with +200K EUR in profits a year!

 

[Sols]

For one, you need to have a local bank account. That effectively means you need at least 500,000 to 1 million EUR you can comfortably put in a bank without any expectations that you'll be able to use the money. The banks will all insist on taking your initial deposit and putting it into some sort of wealth management product.

It might be technically possible to live in Monaco without being a millionaire, but you won't fit in unless you're a native/local.

 

[JohnnyDoe]

If you want to live a decent life, to own a villa in Cap d’Ail.