Summary:
New legal provisions have been put in place for commercial companies and Economic Interest Groups (EIG) registered with the Trade and Industry Register, requiring the designation of a responsible person for basic information on the legal entity and information on beneficial owners.
Full Story:
New legal provisions have been implemented for commercial companies and Economic Interest Groups (GIE) registered in the Directory of Commerce and Industry.
The legal forms affected by these provisions are:
– Limited Liability Company (SARL)
– Anonymous Company (SAM)
– General Partnership (SCS)
– Ordinary Partnership (SNC)
– Partnership Limited by Shares (SCA)
– Economic Interest Group (GIE)
– Foreign Company (SE)
It is now necessary to designate with the Directorate of Economic Development, a person responsible for basic information about the legal entity and information about beneficial owners.
You may appoint one person who will be responsible for both categories of information, or you may designate two separate individuals.
The person(s) responsible for the information can be chosen from among:
– Partners
– Shareholders
– Directors
– Employees
– Members
These person(s) can also be chosen from among representatives of any associated legal entities, directors, or members (for GIE only).
The designated person(s) must be resident individuals in Monaco.
If no resident individual in the Principality can be designated, the person(s) responsible for the information must be chosen from one of the following Monegasque professionals:
– Lawyer
– Certified Accountant
– Notary
– Company service provider
– Legal advisor
– Multi-Family Office
The process for registering this information is completely free and must be carried out with the Directorate of Economic Development using dedicated forms.
For more details regarding this process, please visit the website www.monentreprise.gouv.mc, under the section “designating a person responsible for information.”
Directorate of Economic Development
9, rue du Gabian
98000 Monaco
Opening hours: Monday to Friday, 9:30 am to 5:00 pm
Source:
Gouvernement Monaco
