Monaco has traditionally been an attractive location for wealthy families to set up a permanent base:

The centre of co-ordination of the management of the family resources and activities has come to be known as a "family office".

Moore Stephens in Monaco is in a unique position to be able to assist those people wanting to take advantage of the Principalitys attractive features. This naturally forms a part of the range of services offered to private clients.

Features that make Monaco attractive stem not only from the taxation aspects, but also from practical and physical aspects of the location. Monaco has for a long time acted as a central European base for the modern mobile family, and combines the appeal of the security and cleanliness with a cosmopolitan environment.

The family office typically covers areas such as:

• Wealth management
• Financial reporting and accounting
• Estate and tax planning
• Trusteeship and fiduciary services
• Philanthropic planning
• Risk management
• Compliance
• Administrative and PA services

Moore Stephens can assist a family in setting up a family office in Monaco by providing advice on the appropriate structure to adopt, and by assisting in obtaining the necessary business and residence permits.

Moore Stephens can provide continuing assistance to enable the family office to achieve its goals, in many of the areas detailed above.

As an alternative to setting up an independent family office the private client may consider taking advantage of the ready-made in-house family office service that Moore Stephens is able to offer, where a dedicated team can offer a tailor-made service.