Automatic exchange of information (financial accounts): Update to Sovereign Order No. 6.208 of 20 December 2016 on implementation (effective from 1 January 2026)

Sovereign Order No. 11.683 of 4 December 2025 (JDM No. 8779 of 26 December 2025) amends, with effect from 1 January 2026, Sovereign Order No. 6.208 of 20 December 2016 implementing the international instruments establishing the exchange of information on financial accounts for Monaco:

• the Convention on Mutual Administrative Assistance in Tax Matters,
• the Multilateral Agreement between Competent Authorities on the Automatic Exchange of Information on Financial Accounts,
• the Agreement between the European Union and the Principality of Monaco.

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SUMMARY

Sovereign Order No. 11.683 transcribes the changes to the OECD Common Reporting Standard (CRS) consolidated in August 2022, and the subsequent adoption of the Amending Protocol to the Agreement with the European Union signed on 13 October 2025 and entering into force on 1 January 2026:

• Amendment to the title of Sovereign Order No. 6.208, as amended:
  "Sovereign Order No. 6.208 of 20 December 2016 implementing the Convention on Mutual Administrative Assistance in Tax Matters, the Multilateral Agreement between Competent Authorities on the the automatic exchange of information on financial accounts, and the Agreement between the European Union and the Principality of Monaco on the exchange of information on financial accounts to improve international tax compliance, in accordance with the standard for the automatic exchange of information on financial accounts established by the Organisation for Economic Co-operation and Development (OECD)" (replacing "and the Amending Protocol to the Agreement between the European Community and the Principality of Monaco providing for measures equivalent to those laid down in Directive 2003/48/EC")."
• Amendment to definitions in paragraphs 4) and 5) of Article 2 of Sovereign Order No. 6.208, as amended:
  "4) "Passive income": including, but not limited to, interest, dividends, royalties, capital gains, rents and royalties, other than rents and royalties derived from the active conduct of an activity carried out, at least in part, by the employees of a non-financial entity, and all other income of the same nature, including income from relevant crypto-assets, in accordance with the comments on the OECD Standard;"
  5°) "Applicable agreements": the Multilateral Agreement between Competent Authorities on Automatic Exchange of Financial Account Information and the Agreement between the European Union and the Principality of Monaco on the exchange of financial account information to improve international tax compliance, in accordance with the standard for the automatic exchange of information on financial accounts established by the Organisation for Economic Co-operation and Development (OECD)."
• Reference to the new Monegasque legislation on personal data protection in Article 10 of Sovereign Order No. 6.208, as amended:
  "Transfers of personal data to jurisdictions subject to declaration shall be carried out in accordance with the specific provisions set out in Articles 76 and 96 to 101 of Law No. 1.565 of 3 December 2024 on the protection of personal data, referred to above."
  
• New Annex I - Reporting and due diligence rules concerning financial account information (transcribing the consolidated CRS, also reflected in the Agreement between the EU and Monaco by the Amending Protocol of 13 October 2025): General reporting obligations; General due diligence obligations; Due diligence procedures applicable to pre-existing accounts of natural persons; Due diligence procedures applicable to new accounts of natural persons; Due diligence procedures applicable to pre-existing accounts of entities; Due diligence procedures applicable to new accounts of entities; Special due diligence rules; Definitions; Interim measures.

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