Cost of Living in Monaco

Planning your move to Monaco? Here is everything you need to know about cost of living for digital nomads and expats in 2026.

Banking in Monaco is exclusively private wealth management. Retail banking essentially doesn't exist for non-residents. To open an account to support your residency application, you must deposit between €500,000 and €1,000,000 depending on the bank. AML and KYC compliance are among the strictest in the world.

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