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Companies and taxation

IT and communication law

08/ Aug

Legal news

Companies and taxation — IT and communication law

"PASS StartUp Programme" for Innovative Projects (Ministerial Order No. 2017-727 modified by Ministerial Order of 2 August 2022)

Ministerial Order No. 2017-727 of 4 October 2017, amended and completed by Ministerial Order No. 2022-430 of 2 August 2022, created the scheme called "PASS Startup Programme" intended to facilitate the support and integration of entities selected at the end of the selection juries held by the "StartUp Programme" within the MonacoTech incubator for the transformation of the Monegasque economy through innovation.

This system includes:

  • A derogatory regime which allows startups hosted by MonacoTech to be given administrative existence with the status of "MT": delivery of an administrative authorisation to carry on business to the project leader(s) by the Director of Economic Development and registration of the project in the Trade and Industry Register (RCI) delivered for a period of 6 months, renewable twice for the same 6-month period;
  • Support for the hosted entities by means of "Bourse StartUp Programme" funding;
  • Support from local professionals;
  • Mentoring tutorials.

Following the issuance of the administrative authorisation to operate and the subsequent registration in the RCI, the project holder has the following obligations:

  • Registering the entity with the I.M.S.E.E. in order to obtain a statistical identification number "N.I.S.";
  • Registering the entity with the Direction des Services Fiscaux in order to obtain an intra-community value added tax number "VAT.";
  • Joining the Social Security Funds of Monaco (CAMTI/CARTI);
  • Opening a deposit account for the exercise of one's professional activity in a credit institution established in Monaco (Law No. 1.492 of 8 July 2020 relating to the introduction of a right to a bank account).

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