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The right to open a deposit account in Monaco : the list of required documents published

15/10/2020

As an extension to the Law n°1.492 of July 8, 2020 relating to the establishment of the right to hold a deposit account, Article 1 of The Ministerial Decree n°2020-664 of October 5, 2020, published on October 9, 2020 in the Journal de Monaco, indicates the list of documents to be collected by credit institutions from persons referred to in Article 2 of the aforementioned Law, submitting a request to open a deposit account.

The text also indicates the list of documents to be provided by said persons to the Budget and Treasury Department in case of refusal to open a deposit account by the chosen credit institution (Article 2).

The Ministerial Decree n°2020-664 thus provides Monegasque credit institutions with the details of the supporting documents necessary for opening a deposit account in application of the Law n°1.492 which will be entering into force in the Principality on October 18, 2020.

To access the Ministerial Decree n°2020-664 of October 5, 2020 :

https://journaldemonaco.gouv.mc/Journaux/2020/Journal-8507/Arrete-Ministeriel-n-2020-664-du-5-octobre-2020-portant-application-de-la-loi-n-1.492-du-8-juillet-2020-relative-a-l-instauration-d-un-droit-au-compte

Authors

Olivier Marquet
Olivier Marquet
Avocat Associé | Managing Partner
Monaco
Anne-Fleur Wagler
Senior Associate
Monaco
The picture of Gautier Barat
Gautier Barat
Senior Associate
Monaco
The picture of Michael Dearden
Michaël Dearden
Middle Associate
Monaco
The picture of Juliette Henry
Juliette Henry
Associate
Monaco
Marine Tarditi
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