What is the minimum bank balance to live in Monaco?

The Monaco government does not set a single statutory minimum, but the practical effect is a bank-set threshold typically in the range of €500,000 to €1,000,000 maintained at a Monaco-licensed bank. Different banks publish different internal minimums; some private banks targeting ultra-high-net-worth applicants set €1 million or higher. The bank then issues a reference letter confirming the applicant has sufficient funds to live in Monaco. The other key residence requirements are proof of accommodation in Monaco (lease or ownership), submission of a long-stay visa application through a French consulate (as Monaco uses the French visa system), a clean criminal record from previous countries of residence, and personal interview. Renewals occur annually for the first three years, then every three years. For the full cost picture, see our Monaco cost of living page.