Anyone who is at least 16 years of age and wishes to reside in Monaco for more than three months in a year, or set up home in the Principality, must apply for a residence permit from the Monégasque authorities.

Theoretically, anyone can move to Monaco, but the process is strictly regulated by financial and "good character" requirements rather than typical immigration quotas. To obtain a residency permit (Carte de Séjour), you must prove three main things: accommodation, financial self-sufficiency, and a clean criminal record. For accommodation, you must own property or have a lease for at least one year in a residence large enough for your household. Financially, you must prove you have sufficient funds to live without working, often demonstrated by a bank reference from a Monégasque bank (which typically requires a deposit of at least €500,000). Non-EU/EEA citizens, such as Americans or Brits, must first apply for a long-stay "Type D" visa through the French Consulate before they can apply for residency in the Principality. While the barriers to entry are high due to the cost of living and the deposit requirements, there are no specific nationality bans, making it a global hub for high-net-worth individuals.