…only French nationals pay income tax in Monaco?

Monaco has no personal income tax except for French nationals who has to pay income tax according to French law and directly to the French government. Under some circumstances even French nationals may be exempt from income tax. These situations are as follow:

1. they have had been habitually resident in Monaco for 5 years on October 13, 1962 and they hold dual French and Monegasque nationality;
2. they are attached to the Prince’s household; or
3. they are the French spouses of foreigners residing in Monaco and the marriage took place before the January 1st, 1986.