UK business owners, who are contemplating a sale of their business, are sometimes advised to consider leaving the UK.  Moving away (and taking up tax-residence outside the UK) opens up the possibility of mitigating the tax which would ordinarily arise on a sale.

Relocating to Monaco is a popular option and it is often combined with the purchase of a villa in France.  With proper planning, these moves can achieve significant tax advantages.

Druces’ Monegasque and French law specialists have a great deal of experience in this area.  Moreover, working with colleagues in our Corporate team, we are able to offer a joined-up service, handling both the company sale in the UK and the Monegasque and French aspects.

When thinking about this type of planning, key considerations typically include:

  • The need to tackle the tax planning (to cease to be UK resident and become Monaco resident) before your sale.
  • Dealing with the formalities in Monaco to establish residency there and arranging the lease of a property in Monaco
  • Consideration of how to manage your UK company (after ceasing to be UK resident but before the sale) so that you are not seen as actually UK resident.
  • Drafting the company sale document in a way which does not prejudice your non-UK residence status.
  • Post-completion UK tax planning to minimise the risk of a challenge by HMRC to your residency status and considering any return to the UK in the longer term.
  • Wills and succession planning post-completion (we are able to advise on wills and tax planning in both the UK and France).

Further information

For more information on our French and Monegasque services, please fill in our form below or speak to:

Share this article:

How can we help?

To find out more about our services, please contact us on: