On December 20, 2024, the promulgation of Law No. 1.569 of December 12, 2024, concerning internships in professional environments, was published in the Journal de Monaco. This new legislative text strengthens the regulation of professional internships undertaken in the Principality by young individuals and closely resembles the provisions already in place in our neighboring state, France.   Unsurprisingly, the new law introduces an age limit for undertaking professional internships (29 years old), requires host organizations to formalize this contractual relationship through an internship agreement, strictly limits the duration of an internship to six months, and mandates financial compensation in the form of a stipend for any internship lasting more than two months.   Furthermore, these legal provisions define the conditions under which a non-European Union student can undertake an internship.   Naturally, these new regulations also serve as a reminder to businesses that an intern is not an employee! Law No. 1.569 limits the number of interns present at the same time, based on the size of the host organization’s workforce.   This reminder should not be taken lightly, as courts have the power to disregard the intern classification if the employer integrates the intern into their workforce and assigns them tasks as if they were a permanent employee, without providing the training they are entitled to.   This risk is significant, as in the event that an internship agreement is reclassified as an employment relationship—by default, an open-ended contract—the intern may be entitled to back pay, paid leave compensation, and severance payments. Additionally, the employer could face criminal penalties for violating employment regulations.   To ensure compliance with this new legislation, our employment law team is available to discuss the matter and assist you.

The Spring Budget 2024 has introduced significant revisions to the resident non-dom tax regime, marking a pivotal shift in the UK's approach towards international residents and those considering the UK as their fiscal residence. These changes, subtly woven into the financial fabric of the country, signal a recalibration of the incentives that once made the UK an attractive destination for global wealth and talent. At the heart of these reforms is a nuanced message: the landscape for non-dom residents in the UK is transforming. This evolution may impact the desirability of the UK for individuals seeking tax-efficient environments and necessitates a thorough analysis for those already under this regime as well as for advisors assisting such clients. The broader implication is clear - the UK is adjusting its sails in the global fiscal waters, potentially affecting its allure as a haven for international individuals. This development beckons a reevaluation of fiscal strategies and invites stakeholders to consider alternative locales that align with their financial and lifestyle aspirations. In light of these changes, the conversation around fiscal planning and strategic relocation becomes ever more crucial. Monaco, with its favorable tax regime and lifestyle benefits, emerges as a compelling alternative worth exploring. GORDON S. BLAIR LAW OFFICES is at the forefront of guiding individuals through these complex transitions, offering expert insights into how the new UK tax changes compare and contrast with the opportunities available in Monaco. The current juncture is a call to action for those impacted by the non-dom regime changes to reassess their positions and strategies. It's an opportunity to delve into a dialogue on the implications of these reforms and to explore new avenues that secure fiscal efficiency and lifestyle preferences. GORDON S. BLAIR LAW OFFICES: Navigating Towards Favorable Shores. The time to engage in this critical conversation is now. With expertise in navigating the complexities of international tax planning, GORDON S. BLAIR LAW OFFICES is poised to provide tailored advice that anticipates and responds to the evolving landscape. Reach out to explore how these developments affect your situation and to chart a forward path that is both informed and strategic.

We are honoured to be recognized by The Legal 500 (Legalease) for our practices in Private Client – Tax, Estate Planning, Family Structures, and in M&A, Business Law. We thank our clients for their trust. Xavier de Sarrau David de Pariente Alexis Madier Edouard Mousny Corinne RICCIARDELLA