Monaco social insurance

[maxima]

if one has Monaco based company and pays 99% of income to himself as a director is it the case when you have to pay about 50% to Monaco social insurance? Or it is applicable for ordinary employees only and directors earn something different than salary (management fees perhaps)?

Thanks for answering the question (and not posting meaningles comments being bored).

 

[MrGecko]

Don't know the specific answer to your question, but

Monaco Information: Business, Taxation and Offshore

a useful place to start IMO

 

[maxima]

Thank you. But question came after reading exactly this website.

However no one else mentioned social insurance. I figure that either other people dont want to mention that or this is not applicable for one-guy company which is advised everythere else. Perhaps director is not employee or non-monaco nationality director doesnt fall into that category of employees who pays that.

 

[MrGecko]

My first guess would be that Social Insurance is only payable by those that live and/or work in Monaco?? As an offshore entity, you will be doing neither.

 

[MrGecko]

Can I ask a little more about what business you are in? And why you are looking to Monaco?

 

[maxima]

I am looking for first class country to live and pay less taxes than in the UK (even 10% will make difference). Make living trading obviously.