Hidden Employment

Law n°1.559 dated February 29, 2024, adapting legislative provisions in relation to Anti-Money Laundering, the financing of terrorism and the proliferation of weapons of mass destruction was published in Monaco's official Journal on March 1st 2024.

This bill constitutes the fourth part in the series of legislative reform aiming at drawing the consequences of the observations made by Moneyval Experts committee in its last report.

Among the disposition of the Law, the legislator has introduced a Section VII entitled: "Aggravation of hidden employment".

The sole article of this section increases the quantum of the penalty for failure to comply with article 1,3 and 4 of Law n°629 dated July 17 1957, which, in summary, deal with statutory duties to make prior declaration in case of hiring and to obtain the delivery of a work permit.