With the purpose of providing a legal framework for the Start-ups’ integration within the “MonacoTech” incubator / accelerator, the Monegasque government has created a new legal status: the “Pass StartUp Program”.
Inaugurated on November 8th, 2017, MonacoTech, the Start-up incubator / accelerator set-up by the Principality of Monaco, in partnership with Monaco Telecom, now hosts 16 start-ups.
In view of the need to legally regulate the arrival of start-ups in the Principality and aware of the inherent particularities of the start-ups, the Monegasque government has, by Ministerial Order N°2017-727 of October 4th, 2017, implemented a special legal status for these entities.
Hosted entities, regardless of their legal form, must now register with the Department of Economic Expansion to obtain a status.
In practice, natural persons carrying out a project, having been authorized to practice their activity in the Principality, will be allocated a registration number, with the letters “MT” (for MonacoTech).
This new status allows project promoters to approach administrations and facilitate the future set-up of a company in the Principality.
CMS Pasquier Ciulla & Marquet has twice been involved with MonacoTech to answer questions from start-ups, and support entrepreneurs in their projects in the Principality