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Monaco

Editorial

Legal market overview

 

The principality of Monaco is independent from the EU and has its own legal system, albeit one influenced by the French system. Foreign law firms wishing to practise in the country must obtain a licence, with the scope of their practice defined from the outset. Only lawyers with Monégasque nationality are able to litigate in the courts.

 

 

Strong industry sectors in Monaco remain shipping, both commercial and private, and real estate (including hotel and apartment sales, and developments). The principality is also a hub for asset management companies and investment funds, contributing to a continuing influx of foreign and multinational clients, both high-net-worth individuals and global companies.

 

 

Many firms specialise in private client work, covering tax, trusts and estate planning, and family law practitioners are in demand for high- profile divorce and children cases. Residency formalities and immigration planning are also active areas of practice.

 

 

International firms in the market include Ince & Co, Gowling WLG (UK) LLP (formerly Wragge Lawrence Graham & Co LLP), and key Monégasque firms are A.L.F.A. (Associated Legal & Fiscal Advisors) and PCM Avocats.

 

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