Monaco corporate bank account in 2024

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Healy Consultants assists our Clients with opening a corporate bank account in Monaco. Our experienced banking team will prepare all required documentation and submit them to their preferred bank. We will also attend the bank interview on your behalf and may assist you with applying to the full range of corporate banking services available in Monaco. Please read below for further information regarding the Monaco banking system and our corporate banking services in this country.

Corporate banking options in Monaco

  1. Monaco is primarily a hub for private banking and wealth management, with most markets leaders having a local presence, such as: i) Julius Baer ii) Credit Suisse iii) Edmond de Rothschild and iv) UBS. There are also numerous private asset management companies, kindly refer to this overview of main banking and financial institutions present in Monaco;
  2. Healy Consultants recommends our foreign Clients to open their corporate bank account with a bank with which they already have a bank account in another country, as this will reduce i) time required to open the bank account and ii) the bank’ requirements for our Client’s security check;
  3. monaco-julius-baerOur Clients may also choose to open a bank account with a bank incorporated in Monaco and not offering its services outside of the city-State. However, such banks usually provide limited corporate banking services and are more focused on wealth management. They also have significant minimum deposit requirements;
  4. While the euro is the official currency of Monaco, US dollars are also widely accepted. Most banks also offer accounts in other main currencies.

Healy Consultants Monaco corporate banking services

  1. Healy Consultants assists our Clients with opening a corporate bank account in Monaco. Please click on this button for further information:
    • monaco-edmond-de-rothschildHealy Consultants will be pleased to assist our Clients with opening a corporate account for their Monaco company within 4 weeks. Internet banking will be approved within the subsequent week;
    • While our firm will liaise with the banks to prevent our Clients from travelling to Monaco, there is still a 30% chance that the bank may require our Clients willing to start a business to travel for a one hour interview in Monaco. There will be a fee discount if you have to travel;
    • Following bank account approval, the preferred Monaco bank will directly and independently email our Client the corporate bank account number, required to set up his business in Monaco.
  2. If requested, Healy Consultants will also be pleased to assist our Clients with obtaining bank financial support for their projects in Monaco. Please click on this button for further information:
    • Healy Consultants may assist our Clients with obtaining corporate finance in the form of a loan, overdraft or simply preferential credit terms. Please contact our Monaco CRO for inquiries regarding these services and related fees;
    • monaco-credit-suisseLaos banks will consider providing funds to finance investment projects, provided sufficient information is provided. Documents requested include i) a well-prepared business-plan, inclusive of a feasibility study ii) availability of collateral assets iii) qualifications of business owners and management iv) last 3 years audited financial statements and v) a detailed review of the project’s strength, weaknesses, opportunities and threats (SWOT matrix);
    • In addition to corporate finance, our in-house consultants may also provide our Clients with assistance to secure trade finance services including i) bank guarantees ii) letters of credit iii) finance against trust receipt (for imported goods) and iv) document against payment and against acceptance.

Exchange controls and other regulation

There is no foreign exchange or capital controls in Monaco. Banks however comply with their anti-money laundering/financing of terrorism obligations.

Contact us

For additional information on our banking services in Monaco, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Sales & Business Development Manager
  • Contact me!
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