Buying information

Buying information

Purchasing Process

 

Buying in Monaco has a long history of being an exceptional investment. Powers Properties accompanies you at every stage of the purchase process, locating the right property as well as guiding you through administrative procedures with Monegasque institutions, bankers, architects and notaries, located in the Principality.

 

Documents needed to be supplied

  • Passport or identity card
  • Current address and proof of residency
  • Marriage certificate (In case of a divorce, a copy of the divorce certificate)

If the Buyer is a Company

  • Statutes of the company
  • Identity card or passport of the managing directors and partners
  • A copy of an RCI ( Registre du Commerce et de l’Industrie)

Cost for purchasing

  • Notary fees: 1,5 % of the purchase price. If there is a bank loan: 1% additional cost based on the loan amount.
  • Registration fees: 4,5 % of purchase price
  • The Agency fees are 3 % of the purchase price + 20 % VAT

A 10 % deposit is held in escrow by a notary and is legally binding, on the day the apartment is reserved

The remaining balance is to be paid by the buyer on the day of the final signature before a Notary, established in the Principality.

In certain cases, a preliminary sales agreement is established at the notary.

When purchasing an investment for appreciation and income, please see the “MANAGEMENT” tab for further information.

Note that purchasing in France will be under French Real Estate law.

 

* Official rates of the Chambre Immobilière Monégasque