Just before emigrating, or quickly after your appearance, you have to open up a bank account with a Monaco area bank and you may have to make a preliminary deposit of about €300,000 to €1 million. When your bank account has been open for 7 to 10 days, the bank will certainly issue you with a message (a bank attestation) that has to be presented to the Surete Publique (Immigration Office) confirming that you've got enough funds to support yourself while living in Monaco. In the event that you plan to work in Monaco, you should also supply a duplicate of your employment agreement. Naturally, that is unlikely to become a problem should you be intending to retire.

Signing a lease

When applying for residency, you need to provide proof of a 12 month rent. Trying to find an apartment to rent or purchase can be done with the aid of an estate broker, just as you would if you were looking elsewhere. Even so, you should be aware that three months' rent must be paid in advance, in addition to one more three months' rent as well as a security down payment.

Applying to the Surete Publique

This must be done in person. In addition to your bank attestation and a copy of your signed 12 month lease, you will have to hold the following files to be able to continue:

• Certified copy of your Birth Certificate
• Valid Passport
• Matrimony or Divorce certificates if applicable
• An announcement listing your academic and professional history, as well as explanation of how all your possessions have been acquired. It is actually required that this be submitted in French.
• Certificate from your last country of residence confirming you've didn't have criminal history for the past 5 years. A statement proclaiming to this can be extracted from the police force within your past home country.
• Valid medical insurance that covers Monaco.
• The electricity agreement for your leasing apartment or bought property.
• Fully completed residency application forms available through the Surete Publique. Remember these forms are only available in French.

The interview process

Right after it is validated that you have all of the needed documentation, an interview is going to be appointed with one of the officials in the Surete Publique. Your application is going to be processed right after the appointment has taken place. In case you are accredited, a message from the Surete Publique will be sent to the address on your application with instructions on the way to acquire your Carte de Sejour (residency card). The full process typically takes around three months to finish.

Your first card is legal for one year. Right after twelve months is up, it should then be renewed every three years. If you live in the country for a minimum of Twelve years, the Surete Publique may deem you qualified for a ten year card. If not, you are able to continue to renew your three year card when it is needed.

The Carte de Sejour provides you with the right to remain in Monaco for over three months, and the specifications state that you need to spend a minimum of 3 months of each year in Monaco. In order to be considered for the ten year card, you need to reside in the country for no less than six months out of the year.

Although it may be a difficult process, once done, retiring to this beautiful country is certain to be a wise decision.