Private Banks in Monaco
Compare leading private banks and their services in Monaco
Market Overview
Market Size
€120 billion
Total private banking assets under management
Regulatory Body
SICCFIN (Service d'Information et de Contrôle sur les Circuits Financiers)
Primary financial regulator
Average Management Fee
0.5% - 1.6%
Typical fee range for wealth management
Private Banks in Monaco
| Bank | Minimum Investment | Management Fee | Key Services | Heritage | |
|---|---|---|---|---|---|
| £1,000,000 | 0.50% - 1.45% |
| Since 1896 | Get Matched | |
| CHF 1,000,000 | 0.65% - 1.75% |
| Since 1890 | Get Matched |
Requirements and Documentation
Minimum Investment
€1,000,000
Typical minimum investment requirement
Required Documentation
- Passport
- Proof of residence
- Source of wealth
- Bank references
Key Regulations
Banking Law
Anti-Money Laundering Law
EU Financial Regulations
Frequently Asked Questions
What is the minimum investment for private banking in Monaco?
Minimum investments for private banking in Monaco typically start from €1,000,000, varying by bank and services required.
How are private banks regulated in Monaco?
Private banks in Monaco are regulated by SICCFIN (Service d'Information et de Contrôle sur les Circuits Financiers) under strict regulatory frameworks ensuring client protection and financial stability.
What are the typical management fees in Monaco?
Management fees for private banking in Monaco typically range from 0.5% - 1.6%, depending on the bank and portfolio size.
What services do private banks in Monaco offer?
Private banks in Monaco offer comprehensive wealth management services including investment advisory, estate planning, tax optimization, and family office services.
How do I open a private bank account in Monaco?
Opening a private bank account in Monaco requires meeting minimum investment thresholds, providing extensive documentation, and undergoing comprehensive due diligence processes.
What are the tax implications of private banking in Monaco?
Private banking in Monaco involves complex tax considerations including reporting requirements, tax optimization strategies, and compliance with international regulations like CRS and FATCA.
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