The statutory account procedure would be simplified. Parliament unanimously adopted bill No. 1124 on 5 October in Monaco. It concerns applicants meeting the legal conditions; buying property alone does not give a foreign nonresident an automatic account entitlement. Official publication and commencement remain unconfirmed as at 11 October.
What changes are proposed for people unable to open a bank account in Monaco?
Seeking help from the authorities would be made easier. The bill adopted in Monaco provides, for applicants meeting the statutory conditions, for seeking help from the Direction du Budget et du Trésor, the government Budget and Treasury Directorate involved in designating a bank, if a bank has not responded within the prescribed period, without a formal written refusal certificate. The procedure is set out in the consolidated text of bill No. 1124.
It also covers specified cases where an applicant meeting the statutory conditions has only a joint account and no individual account, or receives notice that their only account will close. The procedure can therefore begin before service ends. A special expedited court procedure is provided for refusal or termination of service by a bank designated under the right-to-an-account procedure.
These changes concern a statutory procedure. They do not guarantee that every applicant will obtain an account. Checks on the source of funds and anti-money-laundering requirements remain.
Does buying property give me a statutory right to a bank account in Monaco?
No, it does not. Buying property does not, by itself, give a foreign nonresident an automatic statutory right to a bank account in Monaco. The right depends on the legal conditions; the permanent answer and link to the law are in the Monaco buying guide.
Can the new account rules already be used in Monaco?
This is not confirmed. As at 11 October 2026, official publication and commencement of Monaco’s reform have not been confirmed. Article 10 of the adopted text provides for general commencement the day after publication in the Journal de Monaco, the Principality’s official gazette. The specific provisions it lists apply to account-opening applications filed after commencement. For cases brought within the jurisdiction of the President of the Court of First Instance by the reform, an exception preserves proceedings already before another court: they continue in that court.
The checked 2026 issue register, issue No. 8820 of 9 October and Journal de Monaco search did not reveal publication of the reform. These checks do not establish a commencement date. Before relying on the new provisions, check the officially published law, commencement date and transitional conditions applying to your application.
What to check next
For a buyer, property ownership and the statutory right to an account are separate questions. The Monaco buying-process guide explains why the purchase itself does not establish an automatic right. If you intend to use that right, check next whether you fall within a statutory applicant category and what documents establish your status.
Sources: Conseil National — bill No. 1124 dossier; adopted consolidated text, including Article 10; Monaco government — announcement of 7 October; Legimonaco — current Law No. 1.492; Journal de Monaco — issue of 9 October. The adopted text, current Articles 1–2 and listed Journal de Monaco pages were read on 11 October 2026. Official publication and commencement remain unconfirmed.
