Monaco private banks require extensive documentation reflecting strict AML/KYC standards: valid ID (passport/national ID), proof of address (utility bill, under 3 months old), demonstrated solvency and detailed source-of-wealth documentation (company sale proceeds, inheritance, salary history), a CV covering professional background, and professional/bank references. Non-residents face more stringent source-of-wealth scrutiny since banks cannot rely on Monaco residency vetting as a secondary check; physical presence is mandatory at all major private banks — remote-only account opening is not accepted at tier-1 institutions. Minimum private-banking thresholds for non-residents typically run €500,000-3,000,000 depending on the bank, with tier-1 institutions often effectively requiring €2-3 million. As of 2026, documentation review takes 6-10 weeks (up from 4-6 weeks in 2023), reflecting the ongoing FATF grey-list monitoring period.