Under Law no. 1.550 of 10 August 2023*, a new obligation has been introduced for all civil companies registered with the Special Register of Civil Companies in Monaco. From now on, each company must confirm annually, in the month following the anniversary of its registration, that it is continuing in business by means of an official declaration. This also serves to validate the information declared at the time of the initial registration or at the time of any change during the year.
An official form is now available for this declaration. Two copies of this document must be submitted to the Registre du Commerce et de l’Industrie, together with a registration fee of €25 for a limited company (SARL) and €50 for a public limited company (S.A.M.).
Information required as part of the declaration :
- Confirmation of the company’s status (active, being dissolved, ceasing trading, struck off, etc.).
- Company registration number.
- Legal form and company name.
- Name of the bank where the company’s account is held.
- Corporate object, address of registered office and any secondary establishments.
- Amount of share capital, number and par value of shares.
- Full details of shareholders, managers or managing directors, including nationality, marital status and contact details.
- Designation of the person responsible for basic information and information on beneficial owners.
Why take this step?
The introduction of this procedure is part of efforts to comply with Moneyval’s recommendations, aimed at increasing the transparency and traceability of legal entities operating in the Principality. This modernisation not only ensures better regulation, but also protects companies against possible sanctions linked to a lack of information.
At EXPERTA, we understand the importance of rigour and precision in the administrative management of your legal obligations. Our specialist teams are on hand to support you throughout the annual declaration process, guaranteeing you optimum compliance with Monegasque requirements.
For more information or to take advantage of our assistance, please contact us at: [email protected]
Law no. 1.550 introduced as part of the Moneyval reform, aimed at increasing the transparency of legal structures in the Principality of Monaco
