Blog.
Our Focus.
Administration services for Monegasque SCIs and SCPs
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A Monegasque SCI or SCP is a popular vehicle for owning private assets, particularly real estate.
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It allows for a simple ownership structure that can provide tax and estate planning benefits while avoiding unwanted tax issues, formalities and the costs of using certain offshore companies.
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If the SCI/SCP owns a French residential property, its tax filing requirements can be significantly reduced if its sole activity (as is often the case) is to provide its shareholders with the free use of French residential property. From a legal point of view, a Monegasque SCI/SCP has the same characteristics as a French SCI and is therefore treated in the same way from a French tax perspective.
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For tax and estate planning purposes, Monegasque SCIs and SCPs can also be used to hold other valuable private assets such as works of art, luxury cars, financial assets etc.
Our Services.
Square Services is a unique Monegasque company specialising in the administration of Monegasque civil companies both SCIs and SCPs.
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We provide comprehensive administration services for Monegasque SCIs and SCPs to ensure that the company complies with Monegasque regulations (and French tax requirements if it owns a French property).
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​Thanks to our small reactive structure, we’re able to provide best quality services at competitive fees.
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Our services include:
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Provision of registered office;
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Scanning and forwarding of letters by email;
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Provision of annual accounts (signed off by a chartered accountant);
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Preparation of minutes of general meetings to approve the financial statements;
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Acting as the responsible of the information towards the competent Monegasque authorities;
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Filing of the annual declaration and additional declaration in case of change;
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Keeping the shareholders' register;
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When necessary, providing director services (“gérant”) for the SCI/SCP from Monaco.​
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We also incorporate SCIs and SCPs and provide a wide range of administrative services relating to the company.
How We Work.
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We work on a fixed fee basis for the provision of the above services. There are no hidden costs. Prompt administrative assistance is included in the annual fixed fee. We let our clients know in advance if they want us to do anything over and above the prompt administrative assistance included in the fixed fee.
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When the SCI/SCP owns a French property, we are fully aware of the French tax implications and know what to do... We keep the formalities and the tax declarations to the minimum, as required by law, in order to avoid unnecessary formalities and costs;
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The annual accounts are prepared by a chartered accountant. It is important that the accounts are prepared by a fully qualified professional, particularly if the SCI/SCP owns French property. This will certainly give more weight to the accounts if they have to be presented to the French tax authorities for a tax reassessment or in court. The audited accounts are also required in the event of a sale of shares (and not a sale of the property by the SCI/SCP).
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If you are considering incorporating a new SCI/SCP or changing your existing provider, please contact us for a fee quotation.