Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the authorisation, including banking and payment rails.
Get a crypto license in Monaco.
The Principality regulates digital assets by statute: Law 1.528 has governed since July 2022, with ministerial authorisation for digital-asset services and CCAF oversight for financial tokens - in the square mile with the world's densest private wealth. We run the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Monaco in brief
A statute for digital assets in the home of private wealth.
Monaco wrote its rules in statute: Law No. 1.528 of 7 July 2022 regulates providers of services on digital assets and crypto-assets, splitting authorisation by service type. Digital-asset services - exchange between digital assets, operation of a trading platform, exchange against fiat - require authorisation from the Minister of State, granted after review by a consultative commission chaired by the finance ministry; services on financial-instrument-like tokens fall to the Commission de Contrôle des Activités Financières (CCAF). The conditions are classically Monégasque: a company registered in the Principality, directors of demonstrated honorabilité and competence, vetted shareholders above 25%, professional-liability insurance and capital set by sovereign ordinance - with criminal sanctions of one to five years for operating without authorisation.
The commercial logic is unlike anywhere else: Monaco is not a volume market but the world's densest concentration of private wealth - family offices, private banks and UHNW residents within walking distance, under a state whose brand is discretion and permanence. Personal income tax does not exist for residents (French nationals excepted by treaty), and corporate profits are taxed at 25% only where more than a quarter of turnover arises outside the Principality. For wealth-adjacent crypto - custody for family offices, brokerage for private clients, tokenisation of real assets - an authorised Monaco base is a category of its own.
Law 1.528 since July 2022: ministerial authorisation for digital-asset services, CCAF for financial tokens - Monaco-registered companies only, criminal teeth for the unauthorised.
The market is the wealth itself: family offices and private banks in one square mile, no personal income tax, 25% corporate only if >25% of turnover is foreign.
The two authorisations
Ministerial for digital assets - CCAF for financial tokens.
Law 1.528 authorises by service class: digital-asset services through the Minister of State, financial-token services through the CCAF. We fix the class first, then build once.
Two authorisations by service class. Ministerial for digital assets, CCAF for financial tokens.
01 - MINISTERIAL AUTHORISATION
Digital-asset services
Exchange between digital assets, operation of a trading platform, and exchange against fiat. Authorised by the Minister of State after the consultative commission's review, for Monaco-registered companies.
Exchange between digital assets, operation of a trading platform, and exchange against fiat. Authorised by the Minister of State after the consultative commission's review, for Monaco-registered companies.
- ✓Digital asset ↔ digital asset exchange
- ✓Trading-platform operation
- ✓Digital asset ↔ fiat exchange
- ✓Consultative-commission review
- ✓Honorabilité and vetted shareholders
- ✓Insurance + capital by sovereign ordinance
02 - CCAF · FINANCIAL TOKENS
Law 1.528 - since 2022Token services under the CCAF
Placement, order execution, reception-transmission and advice on financial-instrument-like tokens run under the Commission de Contrôle des Activités Financières. Monaco's financial-activities supervisor.
Placement, execution and advice on tokens under the CCAF. Wealth-management-adjacent by design.
- ✓Placement and order execution on tokens
- ✓Reception and transmission of orders
- ✓Advisory services on crypto-assets
- ✓CCAF authorisation and supervision
- ✓Custody and administration in-framework
- ✓Wealth-management-adjacent by design
Costs and timelines are confirmed for your case before any work begins. Capital and insurance minima are set by sovereign ordinance per service class; incorporation and substance costs in the Principality are itemised in your quote.
Why Monaco
The wealth is the market.
The framework is Law 1.528, administered by the Minister of State and the CCAF. In the jurisdiction where private wealth lives, banks and residences within one square mile.
✓
The densest wealth market on earth
Family offices, private banks and UHNW residents concentrated within walking distance. The client base wealth-adjacent crypto exists to serve is simply here.The clientele is walking distance.
✓
A real statute, criminal teeth
Law 1.528 authorises, supervises and punishes. One to five years for unauthorised activity. In a market built on trust, that enforcement is the moat around authorised firms.1-5 years for the unauthorised.
✓
No personal income tax
Residents pay no personal income tax (French nationals excepted by treaty). The founder's own economics are part of the Principality's offer.Founder economics included.
✓
Corporate tax only beyond the Rock
The 25% business-profits tax applies only where more than 25% of turnover arises outside Monaco. Principality-focused service models can sit outside it; we model the split.Only if >25% of turnover is abroad.
✓
Brand as infrastructure
A Monaco authorisation signals discretion, permanence and vetted seriousness. The exact currency of the private-wealth world your clients inhabit.Discretion is the currency.
✓
The tokenisation frontier
Real-asset tokenisation. Property, funds, collectibles. Meets its natural clientele where the assets and their owners already are.Real assets meet their owners.
How it compares
How Monaco differs from other routes.
Monaco is not a volume play. It is the wealth-adjacency play. The full comparison is below.
Monaco vs other jurisdictions
| Feature |  Monaco | Other jurisdictions |
|---|---|---|
| Regulatory regime | Law 1.528 - ministerial + CCAF | Volume-market licences |
| Market | UHNW density, not volume | Retail scale |
| Personal tax | None for residents | 8-55% across Europe |
| Corporate tax | 25% only if >25% abroad | Flat rates regardless |
Regulatory regime
MonacoLaw 1.528 - ministerial + CCAF
Other jurisdictionsVolume-market licences
Market
MonacoUHNW density, not volume
Other jurisdictionsRetail scale
Personal tax
MonacoNone for residents
Other jurisdictions8-55% across Europe
Corporate tax
Monaco25% only if >25% abroad
Other jurisdictionsFlat rates regardless
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Monaco | Law 1.528 authorisation | 0% personal · 25% conditional | Honorabilité, vetted, insured |
 Switzerland | FINMA licences · SRO route | ~12-14% cantonal | Fast entry, no EU passport |
 Gibraltar | DLT Provider (GFSC) | 15% CIT · no VAT · no CGT | Principles-based, three stages |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
MonacoLicense typeLaw 1.528 authorisation
Taxation0% personal · 25% conditional
RequirementsHonorabilité, vetted, insured
SwitzerlandLicense typeFINMA licences · SRO route
Taxation~12-14% cantonal
RequirementsFast entry, no EU passport
GibraltarLicense typeDLT Provider (GFSC)
Taxation15% CIT · no VAT · no CGT
RequirementsPrinciples-based, three stages
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
Before you apply
Requirements for the Monaco authorisation.Requirements for authorisation.
Law 1.528 writes the conditions into statute. People, capital, insurance and presence. The checklist below is what a passing file contains.
01
Monaco-registered company. Incorporation in the Principality is a statutory condition of authorisation.
02
Honorabilité. Directors and effective managers of demonstrated integrity and professional competence.
03
Vetted shareholders. Holders above 25% demonstrating sound and prudent management capacity.
04
Capital. Minimum amounts fixed by sovereign ordinance per service class, paid in and evidenced.
05
Professional-liability insurance. Coverage per the ordinance, bound before authorisation.
06
AML/CFT framework. Monaco's SICCFIN-supervised obligations, with a named compliance officer.
07
Premises and systems. Adequate facilities, security systems and IT resilience in the Principality.
08
Programme of activity. Services, clientele and volumes the consultative commission can interrogate.
09
For token services: the CCAF's parallel authorisation file where Article 13 services apply.
10
Conduct rules - no unsolicited solicitation without authorisation; marketing built compliant from day one.
01
Monaco-registered company - statutory.
02
Honorabilité of directors and managers.
03
Shareholders >25% vetted.
04
Capital per sovereign ordinance.
05
Professional-liability insurance bound.
06
SICCFIN-grade AML with named officer.
07
Premises and IT in the Principality.
08
Interrogable programme of activity.
09
CCAF file for token services.
10
Compliant marketing from day one.
Reflects Law No. 1.528 of 7 July 2022 and its ordinances as of 2026. Unauthorised activity carries one to five years' imprisonment and fines up to the profit made.Law 1.528 (7 Jul 2022) + ordinances, as of 2026.
How it works
From first call to the authorisation.
01
Perimeter and strategy
Ministerial track, CCAF track or both. Mapped to your services and fixed in writing with capital and timeline.Ministerial, CCAF or both - in writing.
02
Monaco company and people
Incorporation in the Principality, honorabilité dossiers and shareholder vetting files prepared.Incorporation + honorabilité dossiers.
03
The authorisation file
Programme of activity, insurance, capital evidence, AML framework and premises. Complete before submission.Complete before submission.
04
Commission review
The consultative commission's or CCAF's rounds - 4-8 months in practice. We answer every question.4-8 months; we answer every round.
05
Authorisation and operation
The ministerial decision or CCAF approval, launch under supervision, and the ongoing obligations we can keep running.Decision, launch, obligations run.
Quick facts
Law1.528 · 7 July 2022
Digital-asset servicesMinister of State
Financial tokensCCAF
In practice4-8 months
EntityMonaco-registered - statutory
Unauthorised activity1-5 years · criminal
Personal income taxNone (non-French)
Corporate tax25% if >25% abroad
NFTs are expressly excluded from the digital-asset service definitions. Collectible models are scoped separately.
On the ground in Monaco
Run from our Monaco office.
Prifinance - Monaco
Monaco
Monaco
01
Monaco company formation
Incorporation in the Principality. The statutory precondition. With the governance Law 1.528 expects, structured with Monégasque counsel.The statutory precondition, structured.
02
The authorisation file
Programme of activity, honorabilité dossiers, insurance and capital evidence. Drafted by us and defended before the consultative commission or the CCAF.Defended before commission or CCAF.
03
Substance and premises
Offices, systems and staffing in the Principality. Assembled to the standard the commission verifies.To the verified standard.
04
The wealth-market strategy
Positioning for family offices, private banks and UHNW clients. The go-to-market that justifies Monaco in the first place.The go-to-market that justifies Monaco.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Monaco.
The Principality's classic frame: no personal income tax for residents, and business-profits tax only when the business looks outward.
No personal income tax
Monaco residents pay no personal income tax. French nationals excepted under the 1963 treaty. Founders' salaries, dividends and gains sit outside the net.Non-French residents.
The 25% - conditional
The impôt sur les bénéfices applies at 25% only where more than 25% of turnover arises outside Monaco. Principality-focused models can sit outside it entirely; we model the split precisely.Only if >25% turnover abroad.
No capital gains tax
Individuals face no capital-gains taxation. The founder's own portfolio economics match the clientele's.Portfolio economics match clients'.
VAT with France
Monaco applies VAT on the French system at 20%. Financial-service exemptions follow familiar patterns, and cross-border supplies run on French rails.20%, familiar exemptions.
No withholding exotica
Distributions flow without dramatic withholding layers. Structures model cleanly for family-office counterparties.Family-office friendly.
Substance defines everything
Where activity really happens decides the 25% question and the authorisation alike. Premises, people and systems in the Principality are both the legal and the tax answer.Legal and tax answer alike.
Tax summary
Personal income taxNone (non-French)
Corporate tax25% · only if >25% abroad
Capital gains (individuals)None
VAT20% · French system
WithholdingNone of note
Wealth taxNone
*Figures as of 2026. The turnover-source analysis drives the corporate position. We document it defensibly from day one.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Monaco company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, authorised business.
Follow Prifinance
Active across our channels.
Monaco · Law 1.528
Launch your crypto project in Monaco with expert support.
Full-service assistance - from incorporation in the Principality to authorisation and ongoing compliance.
Get a consultation →Free legal opinion
Is Monaco the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Monaco crypto licence: quick answers.
What licence does a crypto business need in Monaco?+
Authorisation under Law No. 1.528 of 7 July 2022: digital-asset services - exchange, trading platforms, fiat exchange - require the Minister of State's authorisation after consultative-commission review; financial-token services run under the CCAF.
Who can apply?+
Only companies registered in Monaco - a statutory condition - with directors of demonstrated honorabilité and competence, shareholders above 25% vetted for sound management, professional-liability insurance and capital per sovereign ordinance.
How long does authorisation take?+
Complete files move in 4-8 months in practice through the consultative commission's or CCAF's review - with the honorabilité and shareholder dossiers the usual pacing items.
What happens to unauthorised operators?+
Criminal sanctions: one to five years' imprisonment and fines that can reach the profit made, plus administrative measures from warning to revocation. Monaco polices its brand, which is precisely what makes authorisation valuable.
Why would a crypto business choose Monaco?+
Because the clientele is here: the world's densest concentration of family offices, private banks and UHNW residents. Wealth-adjacent crypto - custody, brokerage, tokenisation of real assets - meets its market within one square mile.
How are companies taxed?+
The 25% business-profits tax applies only where more than a quarter of turnover arises outside Monaco - Principality-focused models can sit outside it. VAT runs on the French system at 20%.
And founders personally?+
Monaco residents pay no personal income tax (French nationals excepted by treaty) and no capital-gains tax - the founder's economics are part of the offer.
Are NFTs covered?+
No - Law 1.528 expressly excludes non-fungible tokens from its digital-asset service definitions. Collectible and NFT-adjacent models are scoped separately, and we map the perimeter first.
What about EU market access?+
Monaco is not an EU member and MiCA does not apply - there is no passport. Groups serving EU clients pair the Monaco authorisation with a MiCA CASP; we run both tracks.
Why Monaco rather than Switzerland or Dubai?+
Switzerland sells institutional finance, Dubai sells scale and tax. Monaco sells proximity to private wealth itself - smaller, denser and more personal than either. For wealth-facing models it is not an alternative to those hubs; it is the client-side complement.
What licence is needed?+
Law 1.528 authorisation - ministerial or CCAF.
Who can apply?+
Monaco-registered companies, vetted people.
How long?+
4-8 months through commission review.
Unauthorised activity?+
1-5 years - criminal.
Why Monaco?+
The clientele is the jurisdiction.
Company taxes?+
25% only if >25% turnover abroad.
Founder taxes?+
No income tax, no CGT.
NFTs?+
Excluded - scoped separately.
EU access?+
No passport - pair with MiCA.
Vs CH/Dubai?+
The client-side complement, not the rival.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Start today
One message away from your Monaco authorisation.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Monaco track fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Government of Monaco, the CCAF or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.