Educational and informational only. This guide reflects rules checked in October 2026 and is not credit, tax or legal advice. Amberlake Partners is not a mortgage broker or credit intermediary and does not arrange or offer loans; any financing is provided and decided solely by the lending bank. Tax rules, lending criteria and bank policies change, and each situation requires review by qualified professionals in the US and in the country concerned.
Who this guide is for
This page is for US citizens and green card holders who live in Monaco, are considering residence there, or want to buy property in the Principality. It covers banking, the investment portfolio, US tax and reporting, and property financing.
For residence requirements, see our Monaco residency guide. For the property market and districts, see the Monaco real estate investment guide. For the choice of adviser, see how to choose a wealth manager in Monaco.
Monaco residence does not end US tax
Monaco does not levy personal income tax on its residents, with an exception for French nationals. That is often the starting point of the conversation, and for a US citizen it is only half of it.
The United States taxes citizens and green card holders on worldwide income regardless of residence, and there is no US–Monaco income tax treaty. A US person living in Monaco therefore continues to pay US federal tax on investment income and gains, generally without local tax to credit against it. The planning focus shifts from reducing local tax to running a portfolio that is efficient for US tax and simple to report.
Monaco and the United States signed a tax information exchange agreement in 2009, which allows the IRS to request information about accounts in Monaco.
Banking in Monaco as a US person
Monaco is not listed among the jurisdictions with a FATCA intergovernmental agreement on the US Treasury's FATCA page (checked 25 October 2026). Monaco banks that accept US persons therefore comply with FATCA directly under the US regulations, including registration with the IRS and reporting on US account holders.
Because this is a direct relationship with the IRS rather than through a local authority, some Monaco banks prefer to restrict US clients, while others have set up dedicated processes. Each bank applies its own minimum relationship size, documentation and acceptance criteria, and a bank can decline an application without giving reasons. Applying with a complete file, including your W-9 and evidence of the origin of funds, is usually the quickest route.
Many US clients keep custody across several centres rather than one. Our comparison of private banks and external asset managers explains how that can work, and our overview of European banking and FATCA for US expats covers the wider options.
US reporting does not stop when you move
The United States taxes its citizens and green card holders on their worldwide income, wherever they live. Moving to Monaco does not end US filing. It adds a second set of rules on top.
In practice, the US layer usually includes the annual federal return, the FBAR (FinCEN Form 114) when the combined balance of foreign financial accounts exceeds $10,000 at any time in the year, and Form 8938 (FATCA) when foreign financial assets pass the IRS thresholds. For a single filer living abroad, those thresholds are $200,000 on the last day of the year or $300,000 at any time; they are higher for joint filers.
Monaco accounts count towards the FBAR and Form 8938 thresholds in the same way as any other foreign account. Monaco also participates in the OECD Common Reporting Standard with its partner jurisdictions, so account information may be exchanged automatically outside the US relationship as well.
The practical consequence is that every account, policy and fund you open locally has a US reporting cost as well as a local one. Planning the structure before you move is usually cheaper than unwinding it afterwards.
The PFIC problem with local investment products
Many products sold to residents, such as Monaco, French and Luxembourg funds and unit-linked insurance policies offered by local institutions, invest through non-US pooled funds. For US tax purposes, most non-US mutual funds and ETFs are treated as Passive Foreign Investment Companies (PFICs).
PFIC treatment can mean punitive tax calculations on gains and certain distributions, interest charges and an annual Form 8621 for each fund. A portfolio that is efficient for a local resident can therefore be inefficient for a US person living in the same building.
The usual approach is to build the portfolio from instruments that work on both sides: individual securities, US-domiciled funds where the custodian and local rules allow them, and bonds held directly. Whether a given product is a PFIC depends on its structure, so it should be checked with a US tax adviser before you buy it. Our guide to PFIC rules for Americans living in Europe explains the mechanics.
How bank financing generally works for US persons in Monaco
Property loans in Monaco are usually provided by private banks rather than retail lenders, and they are often linked to a wider banking relationship. A bank will typically look at the borrower's overall wealth, the assets that will be held with it and the property itself, as well as the US-person compliance requirements.
Two structures are common. A mortgage secured on the Monaco property, and portfolio-backed (Lombard) financing secured on a securities portfolio held in custody. Some buyers combine both. Lombard credit can sometimes be put in place more quickly by the lending bank and avoids selling investments, but the lender can ask for more collateral or repayment if the portfolio falls, and the loan currency and portfolio currency may differ.
Monaco purchases are often completed on short timetables. If financing is involved, it should be discussed with lenders before an offer is made, and the timetable in the preliminary agreement should reflect it. The notary and your legal adviser confirm the purchase costs and conditions for the specific property.
Process: from first call to completion
1. Clarify residence. Decide whether you will apply for Monaco residence and how US tax will apply to your income.
2. Map your position. Assets, custodians, income, existing debt and the US tax status of each holding.
3. Choose the financing route. Property mortgage, portfolio-backed credit, cash, or a combination.
4. Prepare the file. Passport, W-9, recent US returns, statements, liabilities and documented origin of funds.
5. Approach banks that work with US persons and obtain written indications before committing to a timetable.
6. Complete and structure the portfolio so that it works for US reporting and for the banks that hold it.
How Amberlake Partners works with US persons
Amberlake Partners SAM is a wealth management firm in Monaco, licensed (agréée) and regulated by the Commission de Contrôle des Activités Financières (CCAF) and registered with the US Securities and Exchange Commission (CRD 322274). You can verify the registration on the SEC's Investment Adviser Public Disclosure website and read our Form ADV brochures, linked at the foot of this page.
We work on an external asset manager model: your assets stay in your name at a custodian bank, and we advise on and coordinate the portfolio across the institutions you hold. Booking centres available through our partner banks include Monaco, Geneva, Luxembourg, Madrid, New York, Miami, Dubai and Singapore. There are no in-house products to place.
Amberlake Partners is not a mortgage broker or credit intermediary and does not arrange, negotiate or offer mortgages or loans. Around a property purchase, our role is limited to advising on the wealth and portfolio side, for example the liquidity, currency and portfolio consequences of paying cash or borrowing, and assisting with banking relationships, as described in our Form ADV. If a client asks a partner bank about financing, any loan is offered and decided solely by that bank, at its sole discretion and under its own onboarding, compliance and credit criteria. We cannot promise that a bank will open an account or extend credit.
Common questions
Can a US citizen open a bank account in Monaco?
Yes, several Monaco banks accept US persons, but each applies its own minimum relationship size and acceptance criteria and can decline an application. Monaco banks that accept US persons comply with FATCA directly with the IRS.
Do Americans living in Monaco pay US tax?
Yes. Monaco does not tax residents' personal income (except French nationals), but the US taxes citizens and green card holders on worldwide income wherever they live, and there is no US–Monaco income tax treaty.
Is there a FATCA agreement between the US and Monaco?
Monaco is not listed among jurisdictions with a FATCA intergovernmental agreement on the US Treasury website (checked October 2026). Monaco institutions comply under the US FATCA regulations directly.
How is property in Monaco usually financed?
Through private banks, either with a mortgage on the property, a loan secured on a securities portfolio, or both. Terms depend on the bank, the overall relationship and the property.
Why work with an SEC-registered adviser in Monaco?
A US person needs an adviser that is permitted to advise them under US rules and can build a portfolio with US tax and reporting in mind. You can verify an adviser's SEC registration on the SEC's Investment Adviser Public Disclosure website.
Does Amberlake Partners arrange mortgages?
No. Amberlake Partners is a wealth manager, registered with the SEC and licensed by the CCAF. It is not a mortgage broker or credit intermediary and does not arrange, negotiate or offer loans. Any financing is provided and decided solely by the lending bank, at its sole discretion.
Sources checked for this guide
Rules and figures quoted on this page were checked on 25 October 2026:
FinCEN: Report of Foreign Bank and Financial Accounts (FBAR)
IRS: Do I need to file Form 8938?
US Treasury: FATCA intergovernmental agreements by jurisdiction
US Treasury: United States and Monaco sign tax information exchange agreement (8 September 2009)
Important information. This page is educational and informational only. It is not credit, tax or legal advice, and it is not an offer or solicitation for any loan or financial product. Amberlake Partners SAM is a wealth manager registered with the US Securities and Exchange Commission and licensed by the CCAF in Monaco. It is not a mortgage broker or credit intermediary and does not arrange, negotiate or offer mortgages or loans. Any financing is provided and decided solely by the lending bank, at its sole discretion.