Presentation to the Club des Résidents Etrangers de Monaco (CREM) : The right to a bank account

23 October 2024 (Monaco)

Ewelina WASOWSKA, Head of the Family Office Department and Victor BARDAWIL, Associate of the Banking & Financial Law Department of 99 AVOCATS, had the pleasure of discussing with members of the Club des Résidents Etrangers de Monaco (CREM) the legal and practical aspects and prospects of the right to a bank account in the Principality.

* * *

The right to open a deposit and payment account with a Monegasque credit institution, in force since 17 October 2020, was enshrined in Law no. 1.492 of July 8, 2020, supplemented byMinisterial Order no. 2020-664 of October 5, 2020 ( list of documents to be provided).

Drawing on the lessons learned from practice, draft law no. 263, adopted by the National Council on 17 October 2024, plans to improve the right to account regime, by strengthening its effectiveness and broadening its scope.

* * *