BPCA Banque Populaire Cote d'Azur Monaco

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The Principality of Monaco
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The Principality of Monaco is a top-flight location for international finance, with €80.6 billion of assets managed by 39 banking institutions and 45 fund managers.  Its advantages include a low taxation policy and confidentiality laws, combined with an active fight against money laundering and terrorism.


A low taxation policy
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• Private individuals : Monaco’s taxation policy is unusual for its lack of direct taxes (income tax, capital tax, property or accommodation tax, etc.).
This does not, however, apply to French nationals who cannot prove that they had been resident in Monaco for 5 years as of 31/10/1962, and who remain subject to French tax laws.
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• Companies : There are no direct taxes on industry or retail that carries out more than 75% of its turnover in the Principality.
Companies based in Monaco that do not fit this requirement are subject to income tax. The applicable rate is 33.33%.

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Confidentiality
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Managers and staff of financial institutions based in the Principality are subject to professional secrecy laws. Failure to observe them is punishable as per article 308 of the Monegasque Penal Code.
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Information relating to banking operations and wealth management in particular, as well as the existence, operation and balance of bank accounts are all covered by professional secrecy laws.
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As in all countries with an organised financial system, professional secrecy is not binding on the Monegasque financial monitoring and anti-money laundering authorities, who are subject to their own professional secrecy regulations, nor Monegasque legal authorities acting as part of a criminal investigation.

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Fight against money laundering and terrorism
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The Principality of Monaco has a long-established and active policy in the fight against organised crime, money laundering and the funding of terrorism.
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Associated laws are regularly reinforced, and have received favourable assessments from the relevant international organisations on a number of occasions :
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• F.A.T.F. (Financial Action Task Force)
• MONEYVAL (Council of Europe)
• I.M.F. (International Monetary Fund)

Websites :
Blank - BPCA MonacoOfficial Government Portal
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Blank - BPCA MonacoMonaco For Finance
Blank - BPCA MonacoUnroleapartdanslemonde.mc