Monaco boosts financial services

Monaco boosts financial services

Monaco’s elected National Council recently gave its approval to the establishment of Multi Family Offices (MFOs) in the Principality. While there are already about 40 Single Family Offices operating in Monaco, MFOs will be able to offer a range of services to more than one family.

The move will provide a major boost to the volume of financial management services on offer, while at the same time controlling their quality. This in itself is expected to make the Principality even more attractive to prospective residents already drawn by the advantages of low taxes, high quality of life and security.

The topic of Multi Family Offices will be one of the highlights on the agenda of the Monaco Wealth Forum to be held at the Cafe de Paris on March 15, 2017. The main partner for the event is Monaco Life, the Principality’s foremost English-language publication.

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