Emigrating from Australia to Monaco: tax and cost of living

Compared by dimension

On an average Australia income of €64,800 gross per year, you keep €64,800 net in Monaco: a difference of €14,956 per year compared with Australia.

• Tax: on this income Monaco lands at an effective rate of about 0%, against 23% in Australia.
• Passport and mobility: from Monaco you travel visa-free to 143 countries.
• Residency: on our accessibility scale Monaco scores 87 out of 100 for obtaining residency.
• Living environment: banking, internet, safety and healthcare together give Monaco a living-environment score of 85 out of 100.

The tax regime in Monaco

Monaco levies no personal income tax on residents except French nationals, who remain subject to French income tax under the 1963 Franco-Monegasque Convention. There is no capital gains tax and no wealth tax for individuals.

Residency and visas in Monaco

A Monaco residence permit requires proof of accommodation and sufficient financial means. Rental waiting lists are long and costs are extremely high. Naturalisation is possible after 10 years of lawful residence but remains discretionary.

• Carte de Sejour — Resident Ordinaire · 1 years to permanent residency
• Carte de Sejour — Resident Privilegié (bank deposit route) · €500,000 · 1 years to permanent residency

Frequently asked questions

What is the financial difference between Australia and Monaco?

On an average Australia income it differs by roughly €14,956 net per year. Your own figure depends on your income and situation; calculate it with the free freedom check.

Is this tax advice?

No. Libaros compares on the basis of primary government sources and provides information. For personal decisions, consult a qualified adviser.

What sources is this based on?

The Freedom Score uses the OECD Tax Database, IATA Timatic, the Henley Visa Index and Eurostat, with direct links to primary government sources.