Monthly Legal Newsletter (May 2026)

99 AVOCATS ASSOCIÉS is pleased to present a review (selection) of legal developments in the Principality of Monaco in May 2026 (articles published in the Journal de Monaco, legislative work, and other publications) and news concerning the law firm and its team.

EVENTS

◾ERA Annual Conference on European Succession Law

Sarah FILIPPI, Partner, Rozenn LE BOHEC ICYK, Head of the Civil Law Department, and Lisa ZELLER, Associate of 99 AVOCATS ASSOCIÉS, attended the Annual Conference on European Succession Law organised by the Academy of European Law (ERA) on 21 and 22 May in Barcelona.

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◾IBA 28th Annual Conference on Transnational Crime

Grégoire GAMERDINGER, Partner, and Eva GROS, Head of the Criminal Law Department at 99 AVOCATS ASSOCIÉS, attended the 28th Annual Conference on Transnational Crime organised by the International Bar Association (IBA) from 13 to 15 May in Athens.

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◾Eurojuris International Practice Group Days 2026

Guillaume CARDOËN, Senior Associate of 99 AVOCATS ASSOCIÉS, took part in the annual Practice Group Days of Eurojuris International, held from 7 to 10 May 2026 in Cambridge, within the International Business Group (IBG) and the International Litigation, ADR (Alternative Dispute Resolution) and Contracts group.

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◾Legal Breakfast (Labour Law)

On 6 May, Sarah FILIPPI, Partner, Delphine SOLEILHAVOUP, Head of the Employment Law Department, and Renaud MACCHERONI, Senior Associate, and Patricia KEMAYOU MENGUE, Head of the Business Law Department, led the session on the mutual termination of employment contracts.

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TEXTS PUBLISHED IN THE JOURNAL DE MONACO

BANKING & FINANCE

◾Amendment of Annexes A and B to the Monaco-European Union Monetary Agreement

Sovereign Order No. 11.883 of 23 April 2026 (JDM No. 8797 of 1 May 2026) replaced the Annexes to the Monetary Agreement of 29 November 2011. Six new European Union legal acts have been added to Annex A: Regulation (EU) 2024/2987 (EMIR3) and the associated Directive (EU) 2024/2994; Regulation (EU) 2023/2845 (CSDR Refit); Regulation (EU) 2024/1623 (CRR3) and Directive (EU) 2024/1619 (CRD6); Regulation (EU) 2024/2809 (Listing Act).

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REAL ESTATE • Co-ownership

◾Law No. 1.590 of 19 May 2026 amending Law No. 1.329 of 8 January 2007 on the co-ownership of buildings, as amended

Law No. 1.590 passed on 12 May (JDM No 8801 of 29 May 2026), extends from 1 July 2027 the requirement to open a separate bank account (dedicated to the co-ownership) in the name of the co-owners’ association to all property managers, whether they are volunteers or professionals.: either a separate account opened by the property manager in the name of the co-owners’ association, or a single account opened by the property manager and divided into sub-accounts identified in the name of each co-owners’ association.

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JUSTICE

◾International visibility of the Monegasque judiciary

Sovereign Order No. 11.918 of 11 May 2026 (JDM No. 8799 of 15 May 2026) amends Sovereign Order No. 8.155 of 14 July 2020, pursuant to which “the person exercising the functions of Director of Judicial Services and President of the Council of State bears the title of Secretary of State for Justice, Director of Judicial Services, and President of the Council of State.” Henceforth, for the sake of clarity, references to the positions of “Director of Judicial Services” and “President of the Council of State” are removed from the official title, which is now “Secretary of State for Justice" ("Secrétaire d’État à la Justice").

◾Appointment of the First President of the Court of Review ("Cour de Révision")

By Sovereign Order No. 11.921 of 13 May 2026 (JDM No. 8800 of 22 May 2026), Mr Laurent LE MESLE, Vice-President of the Court of Review, was appointed First President of that Court.

◾Composition of the High Council of the Judiciary ("Haut Conseil de la Magistrature")

Sovereign Order No. 11.922 of 13 May 2026 (JDM No. 8800 of 22 May 2026) sets out the list of full and alternate members of the High Council of the Judiciary, appointed or elected for a four-year term, with effect from 24 April 2026.

◾Conditions for the allocation of financial assistance for the remuneration of court-appointed guardians

Sovereign Order No. 11. 912 of 5 May 2026 (JDM No. 8800 of 22 May 2026) adds to Sovereign Order No. 8.700 of 17 June 2021 the procedures for applying for financial assistance for the remuneration of legal representatives for individuals receiving social minima who are eligible for full state funding.

Ministerial Order No. 2026-239 of 5 May 2026 on financial assistance for the remuneration of court-appointed guardians (JDM of the same day) sets out the factors used to calculate the annual income of persons subject to a guardianship order, as well as the aforementioned social minima.

◾List of and compensation for reserve magistrates

Order No. 2026-18 of 4 May 2026 issued by the Secretary of State for Justice (JDM No. 8798 of 8 May 2026) establishes the list of (fourteen) reserve magistrates who may, on an exceptional basis, provide support to serving career magistrates, with effect from 4 May 2026 for a period of three years, renewable.

Order No. 2026-20 of 4 May 2026 issued by the Secretary of State for Justice (JDM of the same day) sets the flat-rate attendance allowance paid to reserve magistrates, calculated on the basis of 1/60° of the final step of the first grade of magistrates, to which a higher or lower coefficient is applied depending on the duties assigned to them.

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◾Fees collected on behalf of the Monegasque Institute for Training in the Legal Professions (IMFPJ)

Order No. 2026-21 of 20 May 2026 of the Secretary of State for Justice (JDM No. 8801 of 29 May 2026) sets the amounts of the fees corresponding to services provided in respect of professional certifications, exam and competitive examination preparation, training courses, conferences, symposia and subscriptions journal Monaco Droit (also in English) of the IMFPJ.

LABOUR LAW

◾Revaluation of pensions awarded in compensation for workplace accidents and occupational diseasess

Ministerial Order No. 2026‑238 of 6 May 2026 (JDM No. 8799 of 15 May 2026) increases, with effect from 1 April 2026, the pensions awarded in compensation for workplace accidents and occupational diseases resulting either in the victim’s death or in permanent incapacity of at least 10%.

PUBLIC • ADMINISTRATIVE

◾Recall measures for registered vehicles, trailers and equipment with a defect

Ministerial Order No. 2026-196 of 21 April 2026 (JDM No. 8797 of 1 May 2026) requires, in particular, the manufacturer, as the party primarily responsible (or its affiliate acting in its name and on its behalf), to notify the Principality’s Vehicle Registration Authority of any defect affecting a vehicle or equipment, to inform each identified owner or lessee individually, to recall the vehicles concerned and to rectify the safety defect free of charge. It also regulates the processing of owners’ and lessees’ personal data in accordance with Law No. 1.565 of 3 December 2024.

At the same time, Ministerial Order No. 2026-197 of 21 April 2026 (JDM of the same day) adds measures for recalling vehicles with a defect to the list of inspection points set out in Annexes 1 and 2 of Ministerial Order No. 2020-509 of 24 July 2020 on vehicle roadworthiness tests.

◾Transfer of a vehicle registration number

L'Arrêté Ministériel n° 2026‑226 du 6 mai 2026 (JDM n° 8798 du 8 mai 2026) ajoute à l'Arrêté Ministériel n° 78‑5 du 9 janvier 1978 relatif à l'immatriculation des véhicules automobiles, modifié, un nouvel article 10 régissant le transfert du numéro d’immatriculation à un autre véhicule déjà immatriculé en Principauté ou pour lequel une immatriculation à Monaco est demandée, à solliciter auprès du Service des Titres de Circulation.

En parallèle, l'Arrêté Ministériel n° 2026‑227 du 6 mai 2026 (JDM du même jour) ajoute à l'Arrêté Ministériel n° 2012‑682 du 15 novembre 2012 le montant des droits pour le transfert de numéro minéralogique (140,00 €) au tableau "Divers".

◾Increase in the basic index-linked salary for the civil service

Ministerial Order No. 2026-223 of 4 May 2026 (JDM No. 8798 of 8 May 2026) increases the basic index-linked salary corresponding to index 100 for civil servants of the Monaco State and Town to an annual sum of €8,241.22, with effect from 1 May 2026 (compared with €8,159.62 since 1 July 2025, representing a 1% increase: €81.60), “against a backdrop of a 1.2% rise in inflation between December 2025 and March 2026, and in light of the economic outlook for 2026” (Government press release of 6 May 2026).

◾Fishing Ban (Code of the Sea)

Sovereign Order No. 11.927 of 21 May 2026 (JDM No. 8801 of 29 May 2026) adds to Article O.244-10 of the Code de la Mer a ban on all fishing, of whatever kind, “5° from the eastern breakwater at Fontvieille”.

◾New regulations applicable to incineration and co-incineration facilities (Environment Code)

Sovereign Order No. 11.931 of 21 May 2026 (JDM No. 8801 of 29 May 2026) adds the new Articles O. 414-2-1 to O. 414-2-14 to the Environment Code (definitions, waste reception, combustion conditions, chimney characteristics, air emission limit values, monitoring of atmospheric emissions, prevention of water pollution, information for the authorities and the public, Environmental Management System (EMS), operating licence) and Annex (monitoring of effluents and limit values for atmospheric emissions) applicable to facilities for the incineration and co-incineration of waste and sewage sludge.

Operators of facilities commissioned before 1 May 2026 must submit a declaration of compliance to the Minister of State by 1 December 2026.

PUBLIC FINANCE

◾Credits opened for urgent and absolutely necessary payments

Sovereign Order No. 11.919 of 13 May 2026 (JDM No. 8800 of 22 May 2026) authorises appropriations in the ordinary expenditure budget (“VAT payable on the Real Estate Portfolio” of the Public Property Administration; “National Events”; ‘Trade Support") and to the equipment budget ("RER trains’), which will be put to a parliamentary vote as part of the forthcoming Budget Act.

◾Closure of the 2024 Budget Accounts

The Sovereign Decision of 16 April 2026, and Erratum (JDM No. 8797 of May 1, 2026, and No. 8798 of May 8, 2026) finalises the closure of the 2024 budget accounts with a revenue surplus of €192,720,225.95 (income and proceeds from the State’s Estate, income and revenue from administrative services, tax revenue: customs duties, legal and commercial transactions, business profits, and consumption taxes).

LEGISLATIVE WORK

REAL ESTATE • COMMERCIAL

◾Draft Law No. 278 establishing a commercial activity lease (passed)

Parliamentary Draft law No. 278, passed on 12 May, aims to boost commercial activity in Monaco through the creation of a new “commercial activity lease” that would better balance the interests of landlords and tenants, in addition to the current commercial lease regime established by Law No. 490 of 24 November 1948 concerning leases for commercial, industrial or craft use.

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PRIVATE INTERNATIONAL LAW

◾Draft law No. 272 updating certain provisions of the Code of Private International Law (PIL) (continued)

On 7 May, the Government informed the President of the Parliament of its decision to convert parliamentary draft law No. 272 amending the PIL Code (international public policy, gifts, reserved share, succession proceedings, temporal application) into a bill to be tabled by 10 May 2027 at the latest (Government press release of 18 May 2026).

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◾Resolution aimed at protecting children under the age of 15 from the dangers of social media (adopted)

In its Resolution No. 36, adopted on 12 May, the Parliament calls on the Government to draft a bill aimed at banning the use of certain digital platforms by children under the age of 15.

OTHER PUBLICATIONS

PERSONAL DATA PROTECTION

◾APDP: Opinion on the Draft Ministerial Order Establishing the List of Countries, Territories and International Organisations Providing an Adequate Level of Protection (data transfer)

In its Deliberation No. 2026-07 of 20 May 2026 concerning the draft Ministerial Order establishing the list of countries, territories and international organisations providing an adequate level of protection pursuant to Article 97 of Law No. 1.565, the Personal Data Protection Authority (APDP) requests that the Government remove, at a minimum, Japan, South Korea, Brazil, the United States and Israel from the list (almost identical to that of the European Union), and pay particular attention to the situation in Canada.

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AML/CFT-P-C

◾AMSF : Guide pratique Yachting 2026

On 13 May, the Monegasque Financial Security Authority (AMSF) published its Practical Guide No. 7: Yachting 2026, up to date with current AML/CFT-P-C legislation and regulations,, aimed at professionals acting as intermediaries or carrying out transactions involving: the purchase or sale of new or second-hand vessels; the chartering or leasing of vessels, as well as the administrative management of large pleasure or commercial vessels.

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◾Coordination and Monitoring Committee for the National Strategy to Combat Money Laundering, Terrorist Financing and Proliferation Financing of Weapons of Mass Destruction, and Corruption

On 7 May, the meeting of members of the First College of the Coordination and Monitoring Committee for the national AML/CFT-P-F strategy focused on Monaco’s fourth report in view of its removal from the FATF grey list, as well as the work to be carried out ahead of the next MONEYVAL evaluation (comprehensive review of the AML/CFT-P-F legislative and regulatory framework, third national risk assessment, and regular collection and analysis of statistical data) (Government press release of 7 May 2026).

ADMINISTRATIVE • BUSINESSES

◾MonEntreprise.mc now includes a new dedicated space for the Extended Monaco Enterprises (EME) programme

The services previously available on eme.gouv.mc are now accessible via https://monentreprise.gouv.mc/extended-monaco-entreprises (FlashUP ToolBox, digital maturity and AI opportunity self-assessment, directory of digital professionals, awareness programme on digital issues, and access to grants and funding via the Blue Fund). Connection is now made through the MonGuichet.mc platform.

◾New online service on MonGuichet.mc: digitalisation of procedures for transferring a registered office or opening a secondary establishment/branch office

Company directors and representatives of businesses registered in Monaco can now complete online their procedures for transferring a registered office or opening a secondary establishment/branch office (submission of the required information and supporting documents for case processing) via MonGuichet.mc (Government press release of 4 May 2026).

COUNCIL OF EUROPE

◾The Committee of Ministers of the Council of Europe under the Monegasque Presidency until 10 November 2026

Since 15 May, the Principality of Monaco has held the rotating presidency of the Committee of Ministers of the Council of Europe, which it joined on 5 October 2004, succeeding the Republic of Moldova. The political priorities “Protecting everyone through an effective Organisation to address current challenges” (combating violence against women, protecting children and young people, supporting the European Convention on Human Rights, sport as a driver of development and well-being, combating organised crime), as well as the Agenda of the Monegasque Presidency, can be viewed on the dedicated official website https://monaco-coe-presidency.gouv.mc/en

◾Special Tribunal for the Crime of Aggression against Ukraine

On 15 May, 36 countries (including Monaco) and the European Union adopted the Resolution CM/Res(2026)5 establishing the Enlarged Partial Agreement on the Management Committee of the Special Tribunal for the Crime of Aggression against Ukraine which aims to ensure the financing of the Special Tribunal and to assist it with certain administrative and management tasks in order to enable it to fulfill its mandate.

◾Strengthening the recovery of criminal assets at the transnational level

On 15 May, representatives of the Committee of Ministers adopted an Additional Protocol to the Council of Europe Convention of 16 May 2005 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism (Warsaw Convention) (which is binding on Monaco), in order to strengthen the authorities’ capacity to monitor and suspend suspicious transactions, as well as to confiscate criminal assets, including crypto-assets. It will be opened for signature on 14 October 2026 during the Octopus 2026 Conference on Cybercrime, which will be organised in collaboration with the Monegasque Presidency.