Owning Property in Monaco: Yearly Costs, Taxes and Inheritance

Buying in Monaco is expensive. Owning there, by comparison, is light on tax. According to the Government of Monaco, there is no wealth tax, no annual property tax and no council tax. Owners still have running costs, and some taxes do apply at particular moments: when a lease is registered, when the property passes on death or by gift, and, for French and American owners, at home.

This guide covers what owning a home in Monaco costs each year, how renting and selling are treated, and the inheritance duties that apply to Monaco property. For the costs of buying, see our guide to buying property in Monaco.

Owning in Monaco at a glance

What owners actually pay each year

With no property tax, the yearly costs of a Monaco apartment come mainly from the building and the home itself:

• Co-ownership charges. Most homes are apartments in co-owned buildings. Charges cover the building's services and upkeep, and can include a caretaker, security, elevators, common areas, pools and gyms. They vary widely between buildings, so ask for the last three years of charges before you buy.

• Voted works. Major works, such as facade, roof or elevator renovations, are voted by the co-owners and billed on top of ordinary charges. The minutes of recent general meetings show what is planned.

• Utilities, insurance and maintenance for the apartment itself, including while it is empty.

• Parking and storage, which are often separate units with their own charges.

• Management, if someone looks after the apartment while you are away.

Our Monaco due diligence checklist explains how to review a building's charges and planned works before an offer.

Renting out your Monaco property

When a residential lease is signed, it must be registered with Monaco's tax services within three months. The registration duty is 1% of the rent and charges over the whole lease period, and it is paid by the tenant. For leases over three years, it can be paid in three-year instalments.

Monaco does not levy personal income tax, so individual owners generally pay no Monaco income tax on rent. Your country of residence or citizenship may tax that income, so take advice before you let. Our Monaco residency guide explains how a home fits into a residency application if you plan to live there yourself.

Selling

Professional sources report that Monaco does not tax individuals on capital gains from selling property. As with rental income, your home country may. Agency fees and the costs of the sale are agreed with the agency, and the deed is signed before a Monaco notary.

Inheritance and gifts

Monaco's inheritance and gift duties apply to property situated in Monaco, whatever the nationality, residence or domicile of the person who dies or makes the gift. The rate depends on the relationship:

Source: Government of Monaco, updated July 30, 2026. Holding a home through a company does not automatically change the outcome, and other countries may also tax the same estate, so plan with a lawyer who handles cross-border estates.

The exceptions: French and American owners

• French nationals living in Monaco generally remain subject to French income tax under the 1963 Franco-Monegasque tax convention.

• U.S. citizens remain subject to U.S. tax on their worldwide income, including rent and gains on a Monaco home, wherever they live. U.S. estate and gift tax rules also continue to apply.

Owners of other nationalities who do not live in Monaco should check how their own country taxes property income, gains and estates abroad.

A checklist for owners

• Budget for co-ownership charges and voted works, not just the purchase price

• Keep the building's meeting minutes and charge statements on file

• Register any lease within three months of signing

• Insure the apartment, including periods when it is empty

• Take cross-border tax advice on rent, gains and inheritance

• Review how the property is held when your family or residence changes

Frequently asked questions

Is there property tax in Monaco?

No. The Government of Monaco states that there is no annual property tax, council tax or wealth tax. Owners pay running costs such as co-ownership charges, utilities and insurance.

Do you pay tax on rental income in Monaco?

Monaco does not levy personal income tax on individuals, so owners generally pay no Monaco income tax on rent; the tenant pays a 1% duty when the lease is registered. Your home country may tax the income.

Is there inheritance tax on Monaco property?

Yes, depending on the relationship. Transfers to children, parents and spouses are taxed at 0%; other heirs pay 8% to 16%. The duties apply to property in Monaco whatever the owner's nationality or residence.

Do Americans pay tax on a Monaco home?

Not in Monaco on an ongoing basis, but U.S. citizens remain subject to U.S. tax on their worldwide income and to U.S. estate and gift tax rules.

Final perspective

Monaco's tax environment makes ownership simple, but not cost-free. The building's charges and works are the real yearly cost, and inheritance planning matters for any heirs beyond the immediate family.

Asher works alongside experienced, locally licensed Monaco professionals and introduces independent legal, tax and banking advisers for international owners. Learn more on our Monaco property advisor page or contact Asher.

Sources

• Government of Monaco, tax in Monaco (opens in a new tab), updated August 27, 2026.

• Government of Monaco, inheritance tax (opens in a new tab), updated July 30, 2026.

• Government of Monaco, how to pay the leasehold duty (opens in a new tab), updated July 30, 2026.

• Petrini, taxation in Monaco (opens in a new tab).

• Savills Research, property taxation in Monaco (opens in a new tab).

This guide is general information as of November 2026. It is not tax or legal advice.