Moving to Monaco from the UK: A Guide for British Buyers and Residents
British nationals are now the fourth-largest community in Monaco, and the fastest growing. According to IMSEE, they made up 7.6% of residents in 2024, and their number passed 3,000 in the 2025 census, 163 more than a year earlier, the biggest rise of any nationality. Around 450 of the 2,700 people who have settled in Monaco since 2023 are British. Here is what draws this clientele, and what to know before taking the step.
Why British buyers are looking at Monaco
The UK replaced its non-dom regime with a residence-based system from 6 April 2025. Someone who has been UK tax resident for at least ten of the previous twenty tax years is now treated as a long-term resident, and can be exposed to UK inheritance tax on their worldwide estate.
In Monaco, a non-French resident pays no personal income tax, no capital gains tax as an individual, no wealth tax and no annual property tax. Inheritance duty is 0% in the direct line and applies only to assets located in Monaco, as we explain in our article on inheritance tax in Monaco and in our guide to Monaco taxation.
Several advisers based in Monaco report more enquiries from British residents since the reform. IMSEE does not measure why people move, and tax is only one factor among others: stability, safety, climate, English-language schooling.
What moving to Monaco does not change
Leaving the UK does not automatically end UK tax obligations. You first need to cease being UK tax resident under the Statutory Residence Test. There is also no comprehensive double tax treaty between the UK and Monaco, so income from UK sources, such as rent received in the UK, remains taxable there. Exposure to UK inheritance tax can also continue after departure, for a period that can run up to ten years depending on how long you were resident.
These rules are complex and change. A UK tax adviser should confirm your situation before you commit.
Visa and residency since Brexit
British nationals no longer fall under the regime that applies to citizens of the European Union. To settle in Monaco, they first need a French long-stay visa (type D), then file their residency application with the Residents Section. The file requires accommodation in Monaco, proof of sufficient means with a Monaco bank (a deposit of €500,000 is frequently cited, though it is not an official threshold) and a clean criminal record. The detail is in our article on the requirements for living in Monaco.
Buying in Monaco as a British national
No nationality restriction applies to buying: a British buyer purchases in Monaco on the same terms as any other buyer, with no prior residency needed. For a resale property bought in a personal name or through a Monaco SCI, expect around 6.25% in costs, plus agency fees (acquisition costs). The choice between a personal name and an SCI is made before the offer, and the steps of a purchase are the same for everyone. Some of the best properties change hands off-market, before any listing.
Schooling and daily life
British families have two English-language options: the International School of Monaco, which offers the International Baccalaureate from kindergarten to graduation, and the British School of Monaco for primary years, following the British system. Our guide to schools in Monaco covers both. Proximity to a school also weighs on the choice of neighbourhood, as in our neighbourhood comparison.
How we help
We work with notaries, lawyers and tax advisers so that purchase and relocation follow in the right order. Considering leaving the UK for Monaco? Let's talk in confidence about your project.
Sources: IMSEE, population censuses 2024 and 2025, as reported by Monaco Tribune. This article does not constitute tax, legal or investment advice.
