Monaco Capital Gains Tax Guide: 0% for Individuals 2026
Monaco does not impose capital gains tax on individuals. Gains from the sale of real estate, shares, securities, cryptocurrency, and other assets are entirely tax-free for individuals. Corporate capital gains are treated as ordinary income and taxed at CIT rates. Here is how capital gains taxation works in Monaco in 2026.
Capital gains taxation in Monaco is among the most favorable in the world. Individuals pay 0% CGT on all asset classes regardless of holding period. This applies to both residents and non-residents on Monaco-situated assets. There is no distinction between short-term and long-term holdings. Monaco does not have a separate capital gains tax regime — gains are simply not taxable for individuals. Companies pay CIT on gains as part of ordinary income. Property tax guide →
Real-world example: An individual buys an apartment in Monaco for €5,000,000 and sells it 1 year later for €6,000,000. Gain: €1,000,000. CGT: €0. In France, the same gain within 1 year would be taxed at 36.2% (19% + 17.2% social levies) = €362,000. A Monaco resident sells shares for a €10,000,000 gain — 0% CGT. A company selling the same property would pay CIT at 25% on the gain = €250,000 (if profit exceeds €1M). Corporate tax rates →
Capital Gains Tax Rates for Individuals
- Real estate: 0% for individuals — no tax on gains regardless of holding period or residency
- Shares and securities: 0% for individuals — gains on listed and unlisted shares, bonds, and derivatives are tax-free
- Cryptocurrency: 0% for individuals — crypto gains are not taxable for Monaco resident individuals
- Business assets: 0% for individuals — gains on disposal of personally-held business assets are tax-free
- Corporate capital gains: Treated as ordinary business income and taxed at CIT rates (25% standard, reduced below €1M)
The complete absence of individual CGT makes Monaco a premier jurisdiction for investors, traders, and property owners. There is no distinction between residents and non-residents for CGT purposes on Monaco assets.
Calculating the Gain
While gains are not taxed, calculating the gain may still be relevant for:
- Corporate taxpayers: Companies must calculate gains as part of their CIT return — gain = sale price minus cost basis and allowable expenses
- Foreign tax reporting: Monaco residents may need to report gains to their home country if they retain tax residence elsewhere
- French nationals: French nationals resident in Monaco are subject to French CGT rules (up to 36.2% on real estate gains, 30% flat tax on financial gains)
Comparison with Regional Jurisdictions
- Monaco: 0% CGT for individuals on all assets
- France: 36.2% on real estate gains (19% + 17.2% social), 30% flat tax on financial gains
- Italy: 26% on financial capital gains, progressive rates on real estate (if sold within 5 years)
- Switzerland: Cantonal CGT on real estate (varies), 0% on private financial gains
- Spain: 19-26% on all capital gains (progressive based on amount)
- UK: 10-20% on financial gains (18-24% on residential property) above annual allowance
Do non-residents pay CGT in Monaco?
No. Non-residents selling Monaco-situated assets pay 0% CGT. Monaco does not impose any tax on capital gains realized by non-residents. This applies to real estate, shares in Monaco companies, and any other assets. The buyer's notary handles the transaction without any CGT withholding.
Is CGT on shares really 0%?
Yes. Monaco does not tax capital gains on the sale of shares, bonds, or other securities for individuals, whether resident or non-resident. This applies to both listed and unlisted securities. This makes Monaco one of the most attractive locations globally for holding investment portfolios.
How are corporate capital gains taxed?
Companies subject to Monaco CIT treat capital gains as ordinary income, taxed at the standard CIT rate (25% on profits >€1M, reduced below). There is no separate capital gains regime for companies. Gains on fixed assets may qualify for rollover relief if reinvested in similar assets.