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Company Formation Monaco

Company Act Monaco

Updated on Monday 26th August 2013

The companies’ activities in Monaco are regulated by the Commercial Code, the civil code and Sovereign Ordinances.
The Article 26 of Monaco's Commercial Code divides the commercial entities into companies and partnerships: limited and public limited liabilities companies and limited, limited by shares and general partnerships.
Until 2007 the limited liability company in Monaco was not a type of business that could have been opened in Monaco but after modifying the Commercial Code, the Civil Code and Sovereign Ordinances this became possible. The minimum share capital of a limited liability company or a public limited liability company is also regulated by laws.
For example the minimum share capital of a SARL is 15.000 Euro, unlike the minimum share capital of a SAM: 150.000 Euro.
There are certain activities which requires a higher minimum share capital (for example, the Law no. 1194 stipulates that for founding some financial services entities a minimum share capital of 450.000 euro is required.
The Economic and Legal Activities are ruled by the Monegasque Law 1.144 of July 26, 1991. One of the main regulation is that every company must receive an administrative authorization and to be registered in the Directory of Commerce and Industry. The authorization can be received only from the Government after applying with specific documents.
Also from some sectors special licenses are required: banking and insurance, financial activities, special activities regulated by professional bodies, medical activities, real estate activities, processing precious metals.
The liquidation of a company can be completed if the authorization for it was secluded. This can happen if the company performed unauthorized actions, if for more than two years the company didn’t performed its specific authorized activity, if the company don’t have employees or offices in Monaco.
The liquidation must complete within six months of dissolution. The Trade Register must also be notified. The liquidator must send a certified copy of the minute of the meeting where the liquidation process was approved, no later than 10 days from that meeting.
The Law no. 1058 of 10 June 1983 regulates the way a trademark is protected in Monaco. For a fee, the Industrial Property Department is checking if the desired name is registered. The protection of the trademark is granted for 10 years and renewal notification is not send to the entrepreneur after this period expires.
A series of trademarks are not protected by the IPD: the ones with offensive content, common names or misleading names.

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