Working in Iceland for a corporation in Monaco

By Mark 25 June 2022

Can I work remotely for a company in Monaco while being in Iceland?

It is usually doable, but we recommand to check the following key points first:

  1. The company must be registered in Monaco and have an office there.
  2. The company must have a physical address in Monaco.
  3. The company must have a physical address in Iceland.
  4. The company must be able to provide a company tax number in Monaco and Iceland.
  5. The company must have a bank account in Monaco.
  6. The company must have a bank account in Iceland.
  7. The company must have a bank account in the EU.
  8. The company must have a bank account in the US.

How to live in Iceland and find remote work in Monaco?

Finding remote work in Monaco if you are located in Iceland might be difficult, therefore we recommend you to first live in Monaco. Monaco is a small country in the Mediterranean Sea, located on the French Riviera.

Living in Monaco is a lot cheaper than living in Iceland. You can rent a studio apartment in Monaco for around €600-700 per month.
If you are located in Monaco, you can find remote work there too.
Monaco is a very beautiful city, which is perfect for getting work done.
Monaco is one of the best places for remote work in Europe.
You can find remote work in Monaco if you have a French passport.
There are many remote job opportunities in Monaco.

How a company in Monaco can send my salary in Iceland?

When working remotely for a corporation in Monaco, you salary can be send to Iceland but only if you have a business visa.

This is a huge problem for many people working in Monaco.
Because I live in Iceland, I have to pay a lot of money to Monaco to send my salary.
But Monaco is a tax haven, and I am a foreigner.

Where to pay my taxes when working remotely in Iceland for a company in Monaco?

If you are working remotely in Iceland for a corporation established in Monaco, taxes could seem complicated but in fact , it’s quite easy.

The tax rate in Iceland is 15%, and in Monaco it’s 33%.
But you have to pay taxes in Monaco and in Iceland.
You can’t pay your taxes in Monaco and then work in Iceland, you have to pay taxes in both countries.
The tax rate in Monaco is 33% for the corporation and 15% for the individual, so it’s the same as in Iceland.