Finance in Monaco
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Financing a Business in Monaco
Finding potential finance solutions can be challenging. Talking to your accountant can help. Money is their business and its in their best interest for your business to succeed. They can offer help and advice on possible finance solutions.
- Bank Finance Before booking an appointment with your account manager, research your market, your location and your target audience. Having a well researched and well written business plan can help your bank to see why you need finance, how it will be used and potential growth of your business.
- Stock Market depending on the type of business you set up will depend on f you can float your shares on the stock market. This can help with raising potential finance. AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public.
- Public Aid There is no law governing the allocations of public funds in Monaco, and therefore the provision is made at the discretion of the government. When an application for public funds is made by private individuals or companies, the following criteria are used in the evaluation:
- recognition of the cultural activity;
- the influence of the event or association; and
- The advantages for the public and the Principality of such a cultural initiative.
When a grant is made by the government, the beneficiary must open its accounts for inspection by the General Auditor of Expenditure (Act N 885 of 29th May 1970 relating to financial audits of private organisations awarded state subsidies).
A useful link is the Portail official du Government Princier, or the Official Government Portal for Monaco to you and me. http://www.gouv.mc/
- Tax Incentives Monaco is known as a tax haven as it has no income tax. To find out more on the taxation system and possible tax incentives and tax relief going to the Economic Development Chamber of Monaco, supported by the Government of Monaco. Their main aim is to promote Monaco abroad and offer advice to investors.
Also the Portail official du Government Princier
Comprehensive planning is essential for the success of any business in Monaco.