Electronic signature is available for businesses
The Prince's Government is offering Monegasque professionals a new digital certificate issuing service in partnership with the Monaco Cyber Security Agency, the body responsible for the security of the Principality's information systems. Commonly known as an electronic signature, it is the equivalent of a handwritten signature for a dematerialised document. Its purpose is to demonstrate that a document has been signed by an identified person and that the document has not been altered. It also facilitates businesses' digital transition, for example via the dematerialisation of pay slips, order forms, invoices and contracts with suppliers.
This initiative is one of the main features of the Principality's digital transition programme, Extended Monaco. Implemented by the "Digital Principality" Act, approved in December 2019, it will now enable companies to affix an electronic signature to digital documents, with the same value as a handwritten signature.
"The electronic signature is an important aspect of the digital transition of Monegasque businesses, as part of the country's economic recovery plan. This measure makes optimised, identified and more secure exchanges possible between the various stakeholders. It establishes a common basis for electronic interaction between citizens, businesses and public authorities", emphasised Minister of Finance and Economy Jean Castellini.
Considerable advantages for businesses
The electronic signature has many advantages for its users:
- Time saving: there is no longer a need to print and send paper originals to customers, suppliers, employees, etc
- Increased document security: each signature guarantees the integrity of the document, its authenticity and non-repudiation (i.e. it cannot be questioned by one of the parties). Thanks to the probative value of the electronic signature, businesses' partners can have confidence in dematerialised documents
- Space saving, cost reduction and an eco-responsible initiative: reduces printing, paper archiving and forwarding of documents
- Ease of use: using the USB key reader supplied and Adobe Acrobat Reader (free), documents can be signed easily
- Smoother customer relations: contractual activities can be carried out remotely by exchanging digital documents that have probative value
"The electronic signature will simplify the life of businesses and users in the Principality for all everyday activities that require a signature. Monaco thus joins technologically advanced States that have already rolled out similar initiatives. For our businesses, it means greater security, speed, financial savings and a gain of space; all the more so in a situation where remote working has become the norm", stated Frédéric Genta, Country Chief Digital Officer.
Who does it concern?
All companies registered with the Monegasque RCI, as well as State administrative services, can now have a signature certificate.
How can an electronic signature certificate be obtained?
Any legal representative of a company registered with the Monegasque RCI can submit an application form to the Business Development Agency.