creations
Detailed Structural Comparison
| Criteria | SARL | SURL | PLC | SNC | SCS | Sole Proprietorship |
|---|---|---|---|---|---|---|
| Legal Form | Corporate Name: >Preceded or followed by the designation SARL >May include the name of one or more shareholders | Corporate Name: >Preceded or followed by the designation "SURL" >May include the name of the shareholder | Corporate Name: >Preceded or followed by the words "société anonyme monégasque" or the initials "S.A.M." and the share capital >May include the name of one or more shareholders | Business Name: > Only the names of the partners | Business Name: >Names of one or more general partners (limited partners) | >Trade name only |
| Partners | > Minimum of 2, no maximum > Natural persons or legal entities > Manager: must be a natural person, whether partner or not > Neither the partners nor the manager have trader status. | > One maximum > Natural persons or legal entities > Manager: must be a natural person, whether partner or not | > Minimum of 2 shareholders, no maximum > No person may serve on more than 8 boards of directors of commercial companies headquartered in Monaco > The SAM is managed by appointed directors, temporary and revocable, salaried or unpaid, selected from among the shareholders | > Minimum of 2, no maximum > Natural persons or legal entities > All have trader status | > Two categories: general partners (who have trader status) and limited partners > At least 2 partners: 1 general partner and 1 limited partner, no maximum > Natural persons or legal entities | > A natural person |
| Activity | Commercial | Commercial | Commercial or civil | Commercial | Commercial or civil | Commercial or civil |
| Contributions | > Cash contributions and contributions in kind; contributions in services not permitted > Contributions in kind fully paid up at incorporation > Cash contributions paid up at incorporation up to the minimum share capital > Full payment of share capital within a maximum period of 18 months | > Cash contributions, contributions in kind, and contributions in services > Contributions in kind fully paid up at incorporation > Cash contributions paid up at incorporation up to the minimum share capital > Full payment of share capital within a maximum period of 18 months | > All shareholders must make a contribution > Cash and in-kind contributions form part of the share capital > Contributions in services (non-capital forming) | > All shareholders must make a contribution > Cash and in-kind contributions form part of the share capital > Contributions in services (industry contributions) are not included in the share capital | > All shareholders must make a contribution > Cash and in-kind contributions form part of the share capital > Contributions in services (only for general partners) | Not applicable |
| Share Capital | > Minimum €15,000 > Cash contributions must be paid into a bank account opened for this purpose with a credit institution established in the Principality, and proof must be provided when applying for registration in the Trade and Industry Register (RCI) | > Minimum €8,000 if the shareholder is a legal entity; €15,000 otherwise > Cash contributions must be paid into a bank account opened for this purpose with a credit institution established in the Principality, and proof must be provided when applying for registration in the Trade and Industry Register (RCI) | > Minimum €150,000, fully subscribed > Subscription and payment of the share capital are recorded in a notarial deed | No minimum share capital requirement | No minimum share capital requirement | Not applicable |
| Responsibility | > Partners are liable for losses only up to the amount of their contribution. | > The shareholder is liable for losses only up to the amount of their contribution. | > Directors are responsible only for the execution of the mandate they have received. They incur no personal or joint liability, in relation to their management, for the company’s commitments. > Shareholders’ liability is limited to the amount of their contributions. | > All partners are jointly and indefinitely liable for the company’s debts over their entire personal assets. | > General partners: jointly and indefinitely liable for the company’s debts > Limited partners: liable only up to the amount of their contribution | > Unlimited liability over all personal assets |
| Incorporation | > Private deed or notarial deed > An excerpt of the articles of association is published in the Journal de Monaco | > Private deed or notarized deed > An excerpt of the articles of association is published in the Journal de Monaco | > Authentic deed drawn up by a Monegasque notary > Articles of association published in the Journal de Monaco > Articles of association approved by ministerial decree, returned to the office of the drafting notary. The authorization granted takes effect only after the articles of association have been filed with the records of the drafting notary. | > Private deed or notarized deed > An excerpt of the articles of association is published in the Journal de Monaco | > Private deed or notarized deed > An excerpt of the articles of association is published in the Journal de Monaco. | Not applicable |
| Formation costs | > Registration fees > Publication fees | > Registration fees > Publication fees | > Registration fees > Publication fees > Notary fees | > Registration fees > Publication fees | > Registration fees > Publication fees | Not applicable |
| Other | In practice, the SAM is managed by a board of directors, but there are no specific rules governing its operation. | The articles of association may designate one or more partners authorized to sign on behalf of the company. In this case, only the signatures of those partners bind the company. | A limited partner may not carry out any management acts, even under a power of attorney. If they do so, they incur the same liability as a general partner. | Commercial agents and craftsmen must apply for authorization to carry out their activity as sole proprietors. |