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ELEVATE CONSULTING supports companies in four main areas: payroll outsourcing, human resources management, compliance (LCB/FT-P-C), and relocation to Monaco. We specialize exclusively in the Monegasque regulatory framework to guarantee cutting-edge expertise.
Our approach is more accessible and personalized than that of a traditional accounting firm. We prioritize customer relations and advisory support, with dedicated contacts who take the time to understand your specific challenges.
We support both small businesses in Monaco and subsidiaries of international groups. Our approach is tailored to your size, your industry, and your specific needs.
Yes, our experts lead training sessions, morning seminars, and webinars throughout the year on the specifics of Monaco's regulatory framework. These training sessions are intended for professionals.
We operate exclusively in Monaco and for companies wishing to set up there. This geographical specialization allows us to fully master the intricacies of the Monegasque regulatory framework and maintain cutting-edge expertise on the Principality.
During our initial consultation, we analyze your specific needs and assess your current situation. This consultation allows us to offer you personalized support tailored to your challenges. We always prioritize transparency and clearly present our approach and recommendations to you.
No, Monegasque legislation is specific, particularly with regard to the management of contributions, labor law, and collective agreements. Although inspired by French law, Monegasque law has its own particularities that it is essential to understand. We strongly recommend that you seek training or call on an external service provider if you are not familiar with Monegasque legislation.
No, payroll must comply with Monegasque standards. Pay slips must comply with local regulations and include the specific details of the organizations governed by Monaco's social security funds (CCSS, CAR, FRANCE TRAVAIL, CMRC).
The dismissal procedure differs from that in France, with rules specific to Monaco. Our team will assist you throughout every stage of the procedure to ensure compliance and avoid any risk of litigation.
Yes, we can draft employment contracts, manage hiring declarations, and advise you on HR policy. Our payroll service can be supplemented by comprehensive HR support.
In Monaco, the main organizations are managed by the Monaco Social Security Funds:
Each has its own contribution rules and reporting procedures, which we have mastered perfectly.
We are committed to strictly adhering to legal deadlines and your operational constraints. Pay slips are generally produced and sent before the end of the current month, and social security declarations are made within the regulatory deadlines. Our organization allows us to anticipate periods of high activity and guarantee regular production.
Monegasque legislation is distinguished by several unique features: an employment priority system, specific legal working hours, sector-specific collective agreements, and tailored dismissal procedures. A thorough understanding of these local rules is essential for compliant and smooth human resources management. With this in mind, relying on the expertise of a professional is a valuable asset in ensuring that your procedures are secure.
To recruit staff in Monaco, employers must first create an employer file and register with social security agencies via the Employment Service. They must submit their job offers to this service, which gives priority to Monegasque candidates, their families, and residents of Monaco or neighboring municipalities. Employers can use the online platform to track their job offers and, if necessary, propose their own candidates if no suitable candidates are found. We recommend that you seek assistance with your initial steps to ensure compliance with the Principality's regulations.
Our rates vary depending on the number of employees and the services required. We offer transparent packages tailored to the needs of each company. Each support package is subject to a personalized quote.
Yes, we can help you set up remote working in accordance with Monegasque regulations. This includes drawing up the framework agreement, drafting contract amendments, and registering contract changes with the employment service.
Yes, we support you every step of the way: organizing elections, training on their prerogatives, managing mandatory monthly meetings, and providing support during negotiations. We ensure compliance with legal procedures and facilitate social dialogue within your company.
Absolutely. Our HR audits assess the compliance of your practices with Monegasque legislation: employment contracts, recruitment procedures, compliance with collective agreements, maintenance of mandatory records. The audit results in a priority action plan with support for compliance.
LCB/FT-P-C obligations currently apply to many sectors: financial services, real estate, yachting, fine jewelry, sports agents, legal professions, etc. To determine whether or not you are subject to these obligations. Our AML quiz
The formalities depend on your sector and your exposure to risk. For example, you need to put in place: customer due diligence procedures, a system for detecting suspicious transactions, staff training, comprehensive risk mapping at the level of your entity, and an internal control system. We can help you define and implement these measures.
Procedures must be reviewed regularly, at a minimum, and whenever there is a significant regulatory change or organizational change. Our support includes this monitoring and periodic updates.
Risk mapping analyzes your business's vulnerabilities to money laundering, terrorist financing, and corruption risks. We conduct sector analysis and evaluate customers, products/services, and geographic areas. This mapping then guides the definition of your due diligence measures.
We conduct a comprehensive audit of your existing system to identify any potential deviations from regulatory requirements. This audit enables us to offer you a tailored, priority compliance plan.
The AMSF (Monegasque Financial Security Authority) carries out regular document and on-site checks. Penalties may be administrative (warnings, reprimands, fines) or criminal, depending on the severity of the breaches. We prepare you for these checks and secure your system to avoid any risk of penalties.
To obtain a residence permit, you must provide proof of accommodation in Monaco (owned or rented), sufficient and stable resources, and a clean criminal record. The process can take several months. We will assist you in putting together your application and following up on your request.
A complete installation generally takes between 6 and 12 months, depending on the complexity of your project. The time frame depends on obtaining a residence permit, the need to obtain a visa in some cases, finding a property, and completing banking procedures. Our support helps to optimize these time frames.
Monegasque banks generally require: a residence permit or an application in progress, proof of substantial income, existing assets, and compliance with KYC (know your customer) requirements. Our banking network facilitates these procedures.
Authorities and banks generally expect significant annual income and substantial assets. The criteria vary depending on your situation (entrepreneur, retiree, investor). We assess your profile to maximize your chances of acceptance.
The Monegasque real estate market is very specific, with limited supply and high prices. We assist you in defining your criteria and pre-selecting properties with the real estate agency. Our knowledge of the market saves you time and maximizes your chances of finding the ideal property.
Monaco offers very advantageous tax conditions: no income tax for individuals (except for French nationals), simplified corporate taxation, and no inheritance tax between spouses and direct descendants.
Absolutely. Our service offering includes schooling for children (international schools, French or British systems), professional support for spouses, and all family logistics to ensure the successful integration of the entire family.
Yes, we also assist companies in setting up in Monaco: company formation, office search, local recruitment, compliance, and all regulatory aspects of establishing a business.
Contact us at: contact@elevate-consulting.mc
By Orphic
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