January 2023 Tabled in Public Session on December 5th, 2022, Draft law n° 1.073 relating to vacation gifts (“The Draft law”), is currently being examined by the Parliament’s Committee for Social Interests and Miscellaneous Affairs. The Draft law is based on an initiative from the Economic, Social and Environmental Council, concerned that a paid vacation…
DetailsAmendments to Law n° 1.338 of September 7th, 2007 on financial activities, as amended August 2022 Law n° 1.529 on various economic and legal provisions was published on August 12th, 2022 in the Journal de Monaco (the “Law”). Article 69 of the Constitution provides that Laws and Sovereign Orders may only be invoked against third…
DetailsAmendments to Law n° 1.338 of September 7th, 2007 on financial activities, as amended July 2022 Tabled in Public Session on November 24th 2021, Draft law n° 1.049 on various economic and legal provisions was voted in Extraordinary Public Session on July 27th, 2022 (the “Draft Law”), and will result, in the following weeks, with…
DetailsApril 11th, 2022 The draft law n°1054 on the protection of personal data aims to refer not only to the requirements of the Convention 108+ of the Council of Europe (the modernised version of Convention 108) but also to the European data protection package Data Protection Package” adopted by the European Parliament and the Council…
DetailsMr. Martin Peronnet published a post on Linkedin on April 3, 2020 : “Acquisition of Vodafone Malta by Monaco Telecom” : “We are very pleased to announce that we have completed the transaction to acquire Vodafone Malta yesterday evening. After having successfully transformed Epic in Cyprus, this acquisition completes our strategy in a great way.…
DetailsOn August 2nd, 2011 Law no. 1,383 on the Digital Economy was adopted with the aim of facilitating and securing the formation of contracts electronically (“Law 1.383“). One of the main contributions of this law was the introduction of an article 1163-1 of the Civil Code, which states that electronic writing is, under certain conditions,…
DetailsThe Government, by a letter of April 25th, 2018 informed the Monaco parliament (“Conseil National”) of its decision to change the draft law n°232 relating to the creation of the right to a bank account from a parliamentary initiative to a Government initiative, draft law n° 991 (« Draft Law »). Tabled in public session on April…
DetailsThe business income tax (“ISB”) was introduced in Monaco following the conclusion of a tax treaty with France on May 18th, 1963. Where applicable, and pursuant to article 1 of the Tax Treaty, the ISB is in principle assessed and recovered under the same conditions as is assessed and recovered the corporate income tax in…
DetailsThe Principality of Monaco updated and reinforced its legislative arsenal on the fight against money laundering, the financing of terrorism and corruption by the adoption of a law n° 1.462 of june 28th, 2018, implemented through a sovereign order n° 7.065 of july 25, 2018. Among the novelties of this law stands notably the creation…
DetailsThe primary objective of Law No. 1.457 of 12 December 2017 on harassment and violence at work is to secure relations between employers and employees against harassment, sexual blackmail and violence at work. Workplace harassment is defined as knowingly and by any means whatsoever, in the context of an employment relationship, that a natural person…
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