Setting up investment vehicles, regulated entities and family offices

Unregulated personal investment vehicle

Companies and individuals willing to set up an investment vehicle to manage their own assets may do so through the creation of a so-called “SCP” which stands for “Société Civile Particulière”.

The SCP may manage and invest its own assets (real estate, boats, securities, etc.). The SCP is only allowed to manage and invest assets for its own account. It shall not carry out any business or investment for third parties.

Monegasque family office

HNW individuals may set up their single family office (“SFO”) in Monaco. A SFO is a very flexible vehicle in order to manage and invest the beneficial owner’s assets. Setting-up a SAM is required in order to run a SFO in Monaco.

It is also possible to set-up a multi-family office (“MFO”). Setting-up a SAM is also required to run the MFO.

Regulated financial entity

The financial authority in Monaco is called the “CCAF” which stands for “Commission de Contrôle des Activités Financières”.

Any person willing to advise and invest securities for third parties must apply for a financial license with the CCAF.

In order to apply for a financial license, the applicant must set up a SAM (see above “setting up a business in Monaco” on the main characteristics of a SAM) and file a financial licence application.

A licensed entity must have a minimum share capital varying from 150.000 to 450.000 euros, depending on the type of regulated financial activities the entity is willing to perform.