04
Nov
2026
Legal overview
Banking and financial law
Companies and taxation
International and European law
Property and construction law
Commercial law
Labour law
IT and communication law
Personal data
Public law
Family Office
Risks & Compliance AML/CFT-P-C
2026
Legal overview
Banking and financial law — Companies and taxation — International and European law — Property and construction law — Commercial law — Labour law — IT and communication law — Personal data — Public law — Family Office — Risks & Compliance AML/CFT-P-C
Monthly Legal Overview (October 2026)
99 AVOCATS ASSOCIÉS is pleased to present a review (selection) of legal developments in the Principality of Monaco, including at international level, in October 2026 (articles published in the Journal de Monaco, legislative work and other publications), as well as events in which its team took part.
OUR EVENTS
◾Arendt Private Clients Forum 2026
On 7 October, Maeva ZAMPORI, Partner and Ewelina WASOWSKA, Head of the Family Office Department took part in the 6th annual Private clients Forum organised by Arendt in Luxembourg.
◾Monaco Chamber of commerce Trade Mission in Montenegro
From 13 to 16 October, Ewelina WASOWSKA, Head of the Family Office Department, represented 99 AVOCATS ASSOCIÉS at the Montenegro Economic Mission - Podgorica & Porto Montenegro, organised by the Monaco Chamber of Commerce, in cooperation with the Montenegro Chamber of Economy (Privredna komora Crne Gore – PKCG) and with the support of the Consulate of Montenegro in Monaco.
◾Africa Day 2026 Forum in Monaco
On 19 October, Erika BERNARDI, Partner, and Patricia KEMAYOU MENGUE, Senior Associate, attended the 5th Africa Day Forum organised at the Monaco Yacht Club by the Club of Monegasque Entrepreneurs in Africa (CEMA), with the support of the Monaco Chamber of Commerce and the Federation of Monegasque Enterprises (FEDEM).
◾Lex Mundi 2026 Bank Finance and Regulation Practice Group Meeting 2026
On 26 and 27 October, Patricia KEMAYOU MENGUE, Head of the Banking & Finance Department, attended the meeting of Lex Mundi Banking Finance and Regulation Practice Group in Barcelona.
TEXTS PUBLISHED IN THE JOURNAL DE MONACO
BANKING
◾Law No. 1.597 amending Law No. 1.492 of 8 July 2020 on the introduction of the right to a bank account
Law No. 1.597 of 9 October 2026 (JDM No. 8821 of 16 October 2026) aims to strengthen the framework governing the right to open a deposit and payment account with a Monegasque credit institution, as established by Law No. 1.492: extending the right to an account to new circumstances, setting time limits for processing applications, introducing a provision whereby an implied refusal to open an account entitles the applicant to refer the matter to the Directorate of Budget and Treasury, ensuring the speedy resolution of legal appeals.
PUBLIC • PROPERTY • CONSTRUCTION
◾Law No. 1.598 on the protection of the “Rocher” (Rock) of Monaco
Law No. 1.598 of 16 October 2026 (JDM No. 8822 of 23 October 2026), passed as a matter of urgency, “endows the Rock with a comprehensive and protective own legal framework”, so that the State retains control over the development of the Monaco-Ville district in the face of “concentration of ownership”, the “change of land use” and the “alteration of the character of the built environment”. The law tightens controls on construction, purchases with a right of pre-emption for the State of Monaco, and the use of premises with provisions governing short-term furnished rental on the Rock.
It is supplemented by sovereign orders No. 12.204 (map showing the boundaries of the Rock of Monaco), No. 12.205 (implementation of Title I relating to the control of disposals), No. 12.206 (implementation of Title II relating to the control of allocations) No. 12.207 of 22 October 2026 (implementation of Title III relating to the control of construction).
COMPANIES • ACCOUNTING
◾Law No. 1.596 amending various provisions relating to the profession of chartered accountant, statutory audit and company accounts
Law No. 1.596 of 9 October 2026 (JDM No. 8821 of 16 October 2026) modernises the profession of chartered accountant, the roles of contribution auditor and statutory auditor, strengthens the audit of accounts, introduces the preparation and filing of consolidated accounts for parent companies, revises criminal penalties.
PERSONAL DATA PROTECTION
◾International transfers: list of countries, territories and international organisations offering an adequate level of protection
Ministerial Order No. 2026-548 of 30 September 2026 and Erratum (JDM No. 8821 of 16 October 2026 and No. 8822 of 23 October 2026) sets out the new list of countries, territories and international organisations offering an adequate level of protection, pursuant to Article 97 of Law No. 1.565 of 3 December 2024 on the protection of personal data, to which personal data may be transferred from Monaco without additional safeguards.
TAXATION
◾Amendments to the regulations governing corporate income tax (ISB)
Sovereign Order No. 12.211 of 23 October 2026 (JDM No. 8823 of 30 October 2026) amends Sovereign Order No. 3.152 of 19 March 1964 introducing a tax on profits, as amended. The amendments apply to financial years commencing on or after 1 January 2026: possibility of sending a request for information to companies likely to be liable for ISB, extension of the time limit for responding to the proposed adjustment by the Tax Inspector, fines increased, late payment interest in the event o flate payment, and surcharge calculated on the amount of tax in the event of late filing of profit and loss accounts.
SOCIAL
◾Increase in the minimum pay for staff in hotels, cafés and restaurants
Circular No. 2026-13 of 22 October 2026 (JDM No. 8823 of 30 October 2026) informs professionals working in hotels, cafés and restaurants of the new scale applicable from 1 November 2026, pursuant to Article 6 of Amendment 2 to the Collective Agreement for the Hotel Industry in Monaco of 1 July 1968, extended by Ministerial Order No. 222-677 of 2 December 2022.
◾Paid days off for the year 2027
Circular No. 2026-12 of 16 October 2026 (JDM No. 8822 of 23 October 2026) lists the 12 paid days off in 2027 (New Year’s Day, Sainte Dévote, Easter, Labour Day, Ascension Day, Whitsun, Corpus Christi, Assumption, All Saints’ Day, Feast of His Serene Highness the Sovereign Prince, Immaculate Conception, Christmas).
PUBLIC • IT • Commune • Health
◾Reorganisation of government departments responsible for digital affairs
Sovereign Order No. 12.143 of 24 September 2026 and its Erratum (JDM No. 8819 of 2 October 2026 and No. 8820 of 9 October 2026) establish the "Délégation Interministérielle au Numérique (DIN)" (Interministerial Delegation for Digital Affairs), which succeeds the "Délégation Interministérielle chargée de la Transition Numérique (DITN)" (Interministerial Delegation for Digital Transition), and whose remit is to "devising and proposing the State’s digital policy, and ensuring its implementation and monitoring". It brings together and coordinates the "Direction du Développement des Services Numériques (DDSN)" (Directorate for the Development of Digital Services), the "Direction des Infrastructures et des Systèmes d’Information (DISI)" (Directorate for Infrastructure and Information Systems), and the "Direction des Services de Confiance Numérique (DSCN)" (Directorate for Digital Trust Services).
In particular, the DIN is responsible for “launching a strategy for the development of artificial intelligence within the civil service” (Government press release of 2 October 2026).
◾Commune Commission ("Commission de la fonction communale")
Sovereign Order No. 12.203 of 14 October 2026 (JDM No. 8822 of 23 October 2026) sets out the composition and functioning of the Commune Commission, replacing Sovereign Order No. 11.456 of 26 January 1995, which has been repealed. Its composition may be revised following the vote on Bill No. 1138 providing for the reinstatement of elected civil service representatives (see below under "Legislative work").
◾Local (Commune) elections: ceiling on election expenditure and maximum reimbursement amount
Ministerial Order No. 2026-554 of 30 September 2026 (JDM No. 8820 of 9 October 2026) sets the following for local elections: ceiling on election expenditure at €216,000 per list of candidates, and €72,000 for a candidate standing without being affiliated to a list; maximum amount of reimbursement for election expenses, at €5,533 per candidate for lists comprising between 8 and 15 candidates, i.e. a maximum reimbursement of €83,000, and a flat-rate reimbursement of €37,000 for lists comprising between 2 and 7 candidates, and €18,000 for a candidate standing independently without a list.
◾Medicines, cosmetics and medical devices
Sovereign Order No. 12.201 of 14 October 2026 (JDM No. 8822 of 23 October 2026) brings the new new Annex at the Agreement of 4 December 2003 between the European Community and the Principality of Monaco which lists the Community acts
applicable to the territory of Monaco in the fields of medicinal products for human and veterinary use, cosmetic products and medical devices.
JUSTICE
◾Judge responsible for the enforcement of sentences and deputy judge
Order No. 2026–37 of the Secretary of State for Justice of 2 October 2026 (JDM No. 8820 of 9 October 2026), appointed Mr Thierry DESCHANELS, judge at the Court of First Instance, with responsibility for the enforcement of sentences from 1 October 2026 to 31 December 2027, and appointed Ms Anne-Sophie HOUBART, judge at the Court of First Instance, as his deputy in the event of his incapacity or absence.
◾New member of the Labour Court (replacement)
Sovereign Order No. 12.142 of 24 September 2026 (JDM No. 8819 of 2 October 2026) appoints a new employer representative to the Labour Tribunal, until 3 October 2030.
◾Christmas and Easter court recesses for the 2026–2027 judicial year
Order of the Secretary of State for Justice No. 2026-34 of 29 September 2026 (JDM No. 8822 of 23 October 2026) sets out, for all courts, the Christmas recess period from Monday 21 December 2026 to Friday 1 January 2027 inclusive, and the so-called "Easter" period from Monday 19 April to Friday 30 April 2027 inclusive.
LEGISLATIVE WORK
PUBLIC • Local authority • Health
◾Bill No. 1138 amending Article 25 of Law No. 1.096 of 7 August 1986 concerning the status of the Commune (municipal) civil servants (received)
Bill No. 1138, received on 22 October 2026 by the Parliament, aims to restore the original composition of the Commune Commission (elected representatives of civil servants).
◾Bill No. 1135 on the practice of medicine (received)
Bill No. 1135, received on 16 October by the Parliament, modernises the framework governing the professions of doctor, occupational health doctor, medical adviser to a social security body, medical examiner for a statutory insurer, public health inspector, social welfare inspector and school medical inspector.
◾Bill No. 1136 on the practice of midwifery (received)
Bill No. 1136, received on 16 October by the Parliament, incorporates the current provisions of Order of 29 May 1894 (repealed by the aforementioned Bill No. 1135) relating to medical procedures and treatments which midwives may prescribe or carry out, whilst modernising the authorisation scheme for practising.
COMMERCIAL • PROPERTY
◾Parliamentary draft law No. 278 introducing a commercial tenancy agreement (conversion into a Government bill)
The Government has decided to convert parliamentary draft law No. 278 into a bill, subject to amendments, which is to be tabled by 13 November 2027 at the latest (Legimonaco, News, 5 October 2026).
◾ Parliamentary draft law No. 276 promoting the transfer of ownership and transparency regarding foreign legal entities owning property in Monaco (conversion into a Government Bill)
The Government has decided to convert parliamentary draft law No. 276 into a bill, subject to amendments, which must be tabled by 3 October 2027 at the latest (Legimonaco, News, 5 October 2026).
OTHER PUBLICATIONS
AML/CFT-P-C
◾Monaco removed from the Financial Action Task Force (FATF) "grey list"
On 30 October, the FATF Plenary Assembly removed the Principality of Monaco from its list of jurisdictions subject to enhanced monitoring ("grey list"). It should be noted that the European Union (EU) generally aligns its own list of high-risk third countries with the FATF’s positions, albeit with a delay of several months due to its legislative process (Outcomes FATF Plenary October 2026, Government press release of 30 October 2026).
BUSINESSES
◾Monaco Chamber of Commerce
On 5 October, the Monaco Economic Board (MEB) officially became the Chambre de Commerce de Monaco or Monaco Chamber of Commerce on the international stage. Its remit is to "assist and support businesses in their growth, competitiveness and internationalisation", to "connect economic stakeholders with one another and with the Chamber’s networks", to "keep member businesses informed of major economic trends", and to "promote the Monegasque economic ecosystem" (News of 6 October 2026).
BANKING • INURANCE
◾Right to be forgotten and other measures to facilitate access to credit for people at increased health risk (complaint)
Law No. 1.561 of 2 July 2024 sets out a number of measures designed to facilitate access to mortgage insurance and credit for people who are, or have been, at increased health risk. The useful information and the form to submit a individual claim to the restricted panel of the Commission on the right to be forgotten and mediation (for which the Budget and Treasury Directorate acts as secretariat) are available on the official website Mon Service Public (Government press release of 13 October 2026).
INTERNATIONAL
◾International tax cooperation (OECD/G20): inclusive framework on BEPS and Global Forum on transparency and exchange of information for tax purposes
Monaco took part in the 18th plenary meeting of the inclusive framework on base erosion and profit shifting (BEPS), which took place from 28 to 30 October 2026 in France (Paris), marking its 10th anniversary. Monaco has committed to adopting and implementing the BEPS minimum standards. Bill No. 1129 on the minimum taxation of multinational enterprise groups submitted on 28 July, forms part of this framework (Government press release of 3 November 2026).
Monaco also took part in the 13th Conference of Competent Authorities of the Global Forum on Transparency and Exchange of Information for Tax Purposes, held from 27 to 29 October in Montenegro (Kotor), which is the leading multilateral body responsible for overseeing the implementation of standards on transparency and exchange of information on request and on the automatic exchange of information (AEI), covering the financial accounts within the framework of the Common Reporting Standard (CRS) and transactions involving crypto-assets under the Crypto-asset Reporting Framework (Government press release of 30 October 2026).
◾Monaco at the International Astronautical Federation (IAF) Global Space Leaders Summit
As part of the 3rd edition of the IAF Global Space Leaders Summit, bringing together the heads of national space agencies and offices, held on 6 October in Türkiye (Antalya) on the fringes of the 77th International Astronautical Congress (IAC 2026), the Monaco Office for Office for Outer Space Affairs (established by Sovereign Order No. 8.809 of 2 August 2021) discussed the theme "Lunar Economy: Building Humanity’s Next Frontier" (Government press release of 15 October 2026).
◾Temporary health requirement for travellers to the United States (measures to prevent the spread of Ebola)
From 3 November to 18 December 2026 (subject to possible extension), travellers bound for the United States must certify (via an official form) that they have neither stayed in nor transited through the Democratic Republic of the Congo (DRC) during the 21 days prior to their departure (Government press release of 29 October 2026).
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