Banking
Monaco — Banking: Capital Controls and International Transfers
Monaco maintains a completely open capital account with no currency exchange restrictions or capital controls on the movement of funds into or out of the country. Residents and non-residents are free to hold, transfer, and transact in any foreign currency without limit. Because Monaco shares a customs union and border agreements with France, it complies with European Union physical cash declaration rules: any individual carrying cash or equivalent financial instruments valued at €10,000 or more across the border must declare it to local customs authorities.
VerifiedGovernment / official sourceGouvernement de Monaco - Direction des Services FiscauxLast reviewed: 2026-07-17
Key facts
- There are no capital controls or restrictions on foreign exchange transactions in Monaco.
- Funds can be freely remitted internationally in any major global currency.
- Physical currency transfers of €10,000 or more across the border must be declared.
- Foreigners face no limits on repatriating profits, capital, or investment gains.
- The Euro is the legal tender, and all local settlements are executed in Euros.
- Monegasque banks process high-value international wire transfers under standard SWIFT protocols.
- Customs declarations can be filed electronically or in person upon crossing the border.