The Private Limited Company, locally known as a Société à Responsabilité Limitée (SARL), is a highly utilized commercial structure in Monaco for small-to-medium enterprises. A SARL must be formed by a minimum of two partners, who can be natural persons or corporate entities of any nationality. The liability of the partners is strictly limited to the amount of their capital contributions. The minimum share capital required to incorporate a SARL is €15,000, which must be fully paid up and deposited into a Monegasque bank account during the incorporation phase. Managing directors (Gérants) must be natural persons, though they do not need to be shareholders.
The Société Anonyme Monégasque (SAM) is Monaco's standard structure for large-scale commercial operations, financial services, and high-value investments. A SAM requires at least two shareholders and a minimum, fully paid-up share capital of €150,000, recorded in a notarized deed. Incorporation requires a public notary drafting the articles followed by a formal sovereign decree issued by the Prince. Every SAM must appoint at least one statutory auditor (commissaire aux comptes); no board member may sit on more than eight commercial company boards in Monaco. Source: Gouvernement de Monaco - MonEntreprise.