Information What is a Sole Trader?

Print page

Contact details

Welcome Office

9, Rue du Gabian (1er étage)
Fontvieille
MC 98000 MONACO

Welcome Office :
(+377) 98 98 98 98

Fax : (+377) 98 98 48 70

Opening Hours : from 9.00am to 5.00pm from Monday to Friday

Send us an email

Map

See on a map

Welcome Office

9, Rue du Gabian (1er étage)
Fontvieille
MC 98000 MONACO

Opening Hours : from 9.00am to 5.00pm from Monday to Friday

Phone : (+377) 98 98 98 98

Fax : (+377) 98 98 48 70

Send us an email
0

This legal form concerns natural persons wishing to carry out commercial, professional or craft-based activities without creating a company.

The advantages of being a sole trader

As a sole trader, you can start your business quickly and easily, without the constraints of forming a company (drafting Articles of Association, publication formalities) and without having to set aside a minimum amount of capital.

Management as a sole trader is not subject to the same formalities as companies (having to deposit accounting documents with the Trade and Industry Registry and even having to appoint auditors under certain conditions).

Points you should take into account

  • The entrepreneur's personal assets are not safe from the risks inherent in their business
  • Commercial capacity is required for commercial activities

For this reason, persons that, due to their individual or professional status are precluded from carrying out commercial activities as a professional, such as minors, adults under guardianship or curatorship, civil servants and lawyers cannot set up as sole traders.

Similarly, persons prohibited from carrying out commercial activities following a judgment declaring personal bankruptcy cannot set up as sole traders (art. 587 of the Code de Commerce ).

Premises

For commercial activities, the business must be run from commercial premises (commercial lease, short-term lease or temporary tenancy agreement).

For non-trading activities (the professions for example),the business should be domiciled at office premises.

The sole trader may work from their home if no legislative, regulatory or contractual provision is opposed thereto, if their business activities do not require clients to be received, if storage is not necessary and if no staff are recruited.

It is possible, under certain conditions, to domicile the firm either with a domiciliation company for a period limited to one year (may be renewed once) or on premises occupied by another firm.

See the factsheet: "Domiciling a business activity or establishing a company's registered office "

See also

Last update: 11/09/2014

CONTACT WELCOME OFFICE
+377 98 98 98 98

or

click here

LATEST SITE UPDATES

Factsheets, sections, or press releases that have been added recently or updated.

See the latest site updates