Ministerial Decree No. 2025-665 of December 5, 2025, published in the Journal de Monaco on December 19, 2025, updates the lists of reporting jurisdictions and partners applicable to the Automatic Exchange of Information (AEOI). In summary, three new jurisdictions are now subject to reporting and partnership requirements: Uganda, Rwanda, Senegal. These jurisdictions will be subject … Read more
Sovereign Ordinance No. 11.639 of 27 November 2025, enforcing the Addendum to the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information, was published in the Journal de Monaco on 5 December 2025. This Sovereign Ordinance confirms the entry into force of the new reporting obligations under the CRS as from 1 January 2026. Accordingly, the … Read more
The OECD recently published several major updates relating to the implementation of the Common Reporting Standard (CRS) on its website. These include a consolidated version of the reference text, new technical specifications for the XML schema, and the launch of a new unified portal bringing together all relevant resources. 1. Publication of the CRS consolidated text The OECD … Read more
Ministerial Order no. 2024-734 of December 20, 2024, published in the Journal de Monaco on December 27, 2024, updates the list of reportable and partner jurisdictions in the context of Common Reporting Standard (CRS). To summarize, 3 new countries become reportable and partner jurisdictions: Armenia, Moldova, Ukraine. These jurisdictions will be subject to CRS reporting beginning … Read more
Our Regulatory Map 2025 decodes upcoming developments and strategic events, from Monaco to the rest of the world, with a focus on the major themes to watch: ESG: greater transparency and sustainability at the heart of European requirements. Banking regulations: MIFID II/MiFIR, PSD3, and much more to reinforce transparency, customer protection and financial stability. Digital: … Read more
The OECD recently published new CRS reporting requirements guidelines. We are publishing these new guidelines but do not yet know when they will come into force in Monaco. However, based on the information we have, they will probably be effective in 2026 for 2025 reporting. EDIT on October 17, 2025: These specifications will come into … Read more
On October 3rd, 2024, IRS published a list of entities and branches qualifying as Qualified Intermediaries (QI) Click here to download the list: List of QIs for the 1st quarter of 2024 This list does not include Withholding Partnerships (WP) or Withholding Trusts (WT). Following this publication, the IRS recommends that all QI entities consult … Read more
Monaco’s CRS regulatory environment is currently evolving: In this context, the Direction des Services Fiscaux has intensified its controls to ensure that professionally managed investment entities comply with their registration and annual declaration obligations. Certain entities, such as Monegasque non-trading companies whose income is mainly derived from a portfolio of financial assets and which have … Read more
Sovereign Order n° 10.641 of June 27, 2024 amending Sovereign Order n° 6.208 of December 20, 2016 published in the Journal de Monaco of July 5, 2024, clarifies the penalties applicable in the event of breaches of CRS obligations. The main clarifications are as follows: 1. Penalties for late declaration or failure to declare The … Read more
The Government has recently published an update to its Frequently Asked Questions (FAQ) on the automatic exchange of information in tax matters, as well as an updated version of the Practical Guide for Monegasque financial institutions. The FAQ has mainly been modified to provide updated information on the lists of reporting jurisdictions and partners. The … Read more
