|Type :||Apartment Studio|
|Area :||≈ 32sqm|
|Price :||1 590 000 €|
Balkin Estates provides exclusive access to a network of distinctive homes, premium clients and key alliances in the Monaco real estate market.
Our unparalleled local market knowledge and our extensive experience with high-level clientele make us the optimal choice for all your real estate needs in Monaco.
A Monaco-owned company, Balkin Estates has a proven history of sales success. Our clients benefit from an experienced team of professionals committed to ultimate service.
Whether you are looking to buy or rent a property in Monaco, we will find the perfect match for you, whether or not it is currently in our listings.
With our 20 years’ experience in the Monaco real estate market, as well as our key local connections, you can rest assured that we will locate what you seek with absolute precision.Properties
We are your made-to-measure real estate sales, rental and property management provider in Monaco.
Exclusive print marketing & PR
Our clients benefit from prime placement and editorial coverage in local, national and international publications including: Financial Times and Nice Matin.
Our skilfull team creates unique, dynamic marketing materials especially for your needs, complementing our expert sales approach, effectively attracting qualified buyers or tenants for your property.
Moving to Monaco
We understand that moving to Monaco and integrating into the community can be challenging. We consider it our mission to serve you and to make the process as efficient and seamless as possible.
How Balkin Estates can help
Whether you decide to rent or buy, we assist you every step of the way, even before you arrive.
We can help you with formalities for obtaining a resident's card, followed, if need be, by renovation work, hiring cleaners or gardeners, registering your children in school.
Everything will be done to ensure that you feel at home as quickly as possible !Read more
Located in the heart of Europe, the Principality welcomes visitors and encourages new residents to feel at home in this privileged community.
Ideally situated approximately 30 minutes from the Nice airport by car, or 10 minutes by helicopter (via the Monaco Heliport), Monaco offers an ideal location.
One hundred twenty five different nationalities make up the Monaco community. Of the some estimated 35,000 residents, approximately 8,000 are Monegasques, 10,000 are French and 7,000 are Italians (source: 2008 census). Other main nationalities, in decreasing order are: British, Swiss, German, Belgian, Portuguese, Dutch and American.
With mild winters and sunny summers, the climate year round benefits from an ideal geographical location. The average temperature is 16°C, with 60 days of rainfall per year and an average of 7 hours of sunshine a day.
The official language is French, although Italian and English are widely spoken. The traditional Monegasque language, "le Monegù," is spoken amongst elders and is taught in all local schools.
The currency is Euros.
Events like the Monte-Carlo Grand Prix, the Monaco Yacht Show, the Monte-Carlo Tennis Masters, the Circus Festival, the International Television Festival as well as the famous Monte-Carlo Ballets, the Philharmonic Orchestra and the Opera of Monte-Carlo are sure to entertain.
Leisure, health and wellbeing activities can also be sought and enjoyed at the Monte-Carlo Beach Club, the Thermes Marins (SPA), and the Monte-Carlo Golf Club. Winter ski resorts are within one hour by car.
Stay up to date with the latest events and news in Monaco www.visitmonaco.com
A climate of security reigns in Monaco, making this prestigious setting even more enjoyable.
There is one police officer for every 100 residents, and a system of 24-hour live video surveillance spans the entire surface area of the Principality, including the majority of residential buildings.
The Monaco police service is among the most modern and efficient in Europe. Begging is non-existent, indecent clothing is prohibited and traffic laws are rigorously enforced.
The international residents of Monaco, representing one hundred twenty-five different nationalities, can enroll their children in a variety of schools.
The educational program and diplomas are recognized on a par with the French system. Monaco introduces English language in primary school, as it does the traditional language “le Monegù” and the history of Monaco.
Monegasque students have a 90% passing rate in the French National Baccalaureate.
The government of Monaco places a high priority on the quality of and access to medical care.
Three hospitals are located in the capital Monte Carlo:
One of the most attractive reasons to live in Monaco is its tax system.
Monaco has no personal income tax. If you are a resident of Monaco (except for French Nationals) you do not have to pay personal income tax.
Besides not having a personal income tax, there is no capital gains tax (except for French and U.S. Nationals) and no inheritance tax. No inheritance tax applies only to direct heirs or spouses.
Personal income tax was abolished in Monaco in 1869 and the only exception is French citizens who have settled in Monaco since 1 January 1957, who are subject to French tax law.
No inheritance or gift tax exists in direct line or between spouses. In other cases, the tax rate is low:
Rental properties are taxed at 1% of the annual rent plus estimated service charges. This tax is payable by the tenant.
No capital gains tax, except for French residents.
There are generally no property taxes in Monaco. However, a one-off fee of 9% from notery fees and registration duties applies.
Monaco does not have a general corporate income tax but, under the terms of its tax treaty with France, it levies a tax on the profits of enterprises engaged in certain business activities.
The following are liable to tax in Monaco:
The current profits tax rate is 33.33%.
The tax base is its annual worldwide income earned or deemed to be earned through a business in Monaco. Business expenses are normally deductible unless they are connected with foreign income, which is not taxable.
Losses on the sale of real estate can be carried forward to offset against future profits for a maximum of five years.
Fiscal stamps must be obtained for all official civil and judicial acts. In addition, all documents which could be produced as evidence in a court of law must be stamped in order to be valid. Stamp costs are either a fixed fee or depend on the format of the document or the values involved in the acts.
Registration duties are collected for the registration of real estate transfers or change of ownership.
The most commonly applied rates are as follows:
The practice of a commercial craft or industrial activity or a service sector activity requires an authorization from the Principality of Monaco.
The authorization is granted or refused according to the guarantees furnished by the applicant and the interest that the project presents for the economy of Monaco.
In order to obtain an authorization to establish a business in Monaco, the applicant must request an application form from the Direction de l'Expansion Economique, and duly return the dossier to the same service.
There are a variety of different legal forms possible for setting up an economic activity in the Principality.
Regulations concerning customs and currency exchange are the same in Monaco as in France.
The two countries constitute a Customs Union creating complete freedom of trade.
Although Monaco is tied to France within the framework of European Economic Community customs territory regulations, Monaco is not a member of the EEC.
Companies liable for corporate income tax that incur research and development expenditure may receive a tax credit equal to 50% of difference between their R & D expenditure for the year and their average expenditure over the two previous years, up to a defined maximum.
Any person or company wishing to hire personnel must receive an authorisation to hire and must register the personnel with the Social Security Compensation Fund (Caisse de Compensation des Services Sociaux - CCSS) and with the Independent Pension Fund (Caisse Autonome des Retraites - CAR).
CCSS contribution rates:
CAR contribution rates:
Additional contributions, similar to France, are also payable, such as unemployment insurance and in certain cases retirement pensions.
On average the employer pays approximately 33% of gross salary paid.
At Balkin Estates, the spirit of service goes far beyond serving your property needs. We are your privileged partner in Monaco, advising you through each step of your new life here.
Once we define your needs together, we activate an extensive network of professionals who stand ready to assist you. From relocation, through to all types of administrative paperwork for residency, setting up a professional activity, opening bank and
telecom accounts, registering vehicles, getting a drivers' licence or even enrolling children in adapted schools in Monaco or on the Côte d'Azur, our expert network will have you established in Monaco with minimal delay.
With 20 years of experience advising clients of many backgrounds, we will make your transition to Monaco living smooth and simple.
At Balkin Estates we focus on providing customized real estate solutions to market your property.
With prime placement and editorial coverage in local, national and international publications, let our experienced in-house team create high-impact marketing and attract qualified buyers for your home !