Information regarding measures to freeze funds and economic resources applicable in Monaco.
Sovereign Order n°9.533 published in the Journal de Monaco on Friday November 11, 2022 amends Sovereign Order n°8.664 of May 26, 2021 on procedures for freezing funds and economic resources in application of international economic sanctions.
This Sovereign Order introduces two major changes: a modification of the search area and a new reporting obligation.
– A modified search area
A new website dedicated to the freezing of funds and economic resources applicable in the Principality of Monaco has been set up by the Government. To consult it, click HERE.
The site allows you to :
- Search directly online for the identity of the person concerned: HERE.
- Export the list of frozen funds by downloading the latest updated version in Excel or PDF format: HERE.
- Find Ministerial Decisions: HERE.
- Subscribe to the newsletter. To subscribe, click HERE.
- Benefit from the API freeze funds to have a direct access to the evolutions of the national list by integrating it into your data-processing tool if necessary.
As a reminder, any transaction, attempted transaction, business relationship or attempt to enter into a business relationship involving a person on this list must be systematically and immediately reported. This report must be made to the Budget and Treasury Department, as well as to SICCFIN, the Public Prosecutor or the President of the Bar Association, as appropriate.
– A new reporting obligation
Persons subject to a freeze of funds and economic resources must declare their funds and economic resources held in Monaco to the Direction du Budget et du Trésor.
This declaration must be made before December 1, 2022, or within six weeks of the date of designation (whichever is later). It can be completed using the form downloadable online: HERE.