Understanding the process
The rental of premises for non-residential purposes is subject to VAT (rental of lock-up garages/parking spaces, rental of unequipped premises for commercial, industrial or administrative use).
It is therefore necessary to register this activity with Business Development Agency.
After examination of your file, Monaco Statistics will provide you with a certificate stating your Statistical Identification Number (NIS), which is necessary for your VAT declaration to the Department of Tax Services.
In order to register for Statistical Identification Number you must provide the following :
- The declaration of registration for Statistical Identification Number form, duly completed and signed
- A photocopy of the ID card or residence permit of the owner of the property or, should the owner of the property be a legal entity, of the manager of that legal entity
- A photocopy of the rental agreement
- If the premises are sublet:
- A photocopy of the owner’s authorisation
- A photocopy of the sublet rental agreement
After your application has been received and examined, IMSEE will issue a certificate stating your Statistical Identification Number (NIS).
Once you have completed your registration with Monaco Statistics, you must also declare your activity to the Department of Tax Services. The declaration of activity is an obligatory formality, under article 66 of the Tax Code on revenue.
There is no charge for this formality. The declaration is made directly to the Department of Tax Services, at the Tax Division counter.