Longevity is increasingly recognised as one of the defining challenges of our time. As life expectancy increases, families, entrepreneurs and wealth holders are increasingly confronted with new questions relating to governance, succession, wealth preservation, international mobility and long-term planning.   Addressing these long-term challenges is at the heart of the discussions led by the Private Longevity Council, an independent initiative bringing together experts from a broad range of disciplines. In a recent interview published by La Gazette de Monaco, Michel Bouquier explains the Council's mission: to encourage reflection and develop practical responses to the societal, economic and human implications of longer lives.   As part of this initiative, Xavier de Sarrau, Managing Partner of Gordon S. Blair, contributes the legal and tax perspective to these discussions. His involvement reflects the firm's longstanding commitment to helping international families and entrepreneurs anticipate change and organise their affairs with a long-term vision.   For more than a century, Gordon S. Blair has advised clients on protecting, structuring and transmitting their interests across generations and jurisdictions. In a world where longevity is redefining traditional planning models, this expertise remains more relevant than ever.   Read Michel Bouquier’s interview in La Gazette de Monaco. (hyperlink) https://lagazettedemonaco.com/actualites/societe/michel-bouquier-une-structure-pour-repondre-aux-problematiques-de-la-longevite   

Bill No. 276, submitted by the National Council to the Princely Government on 3 April 2026, could mark a significant development in the legal framework governing foreign structures owning real estate in the Principality. Should it be enacted, the proposed reform may substantially alter the legal and tax regime applicable to foreign entities holding real estate assets in Monaco.   A legislative initiative reflecting enhanced transparency objectives The proposed legislation seeks to establish a more comprehensive framework for foreign legal entities holding real property rights in the Principality. Among the measures under consideration is the possibility for a foreign entity owning real estate in Monaco to transfer its registered office or domicile to the Principality while retaining its original legal personality, subject to compliance with the conditions set out in the proposed legislation. Beyond this structural aspect, the bill reflects a clear policy objective of strengthening transparency regarding the identification of the beneficial owners of the entities concerned.   An unprecedented tax mechanism The proposed legislation introduces an annual levy applicable to foreign entities owning real estate in Monaco that do not voluntarily disclose the identity of their beneficial owners. The levy would be set at 1% of the market value of the real estate assets held, potentially resulting in a significant financial burden for certain holding and wealth-structuring arrangements. To facilitate potential restructuring or compliance measures, the bill also contemplates a transitional regime providing for an exemption from registration duties for a limited period of three years.   What comes next? At this stage, the proposal remains a bill and has not yet been enacted. The Princely Government has until 3 October 2026 to communicate its position and any observations on the proposed legislation. While the outcome remains uncertain, the initiative nonetheless reflects the Principality's continuing efforts to enhance transparency and strengthen beneficial ownership disclosure requirements. Property owners and investors concerned may wish to assess the potential implications of the proposed measures and review, where appropriate, the suitability of their existing holding structures in light of the policy direction reflected in the bill.   The teams at Gordon S. Blair are closely monitoring developments and remain available to assist clients in assessing the legal, tax and wealth-planning implications of this proposed legislation.

Convinced that legal expertise can make a meaningful contribution to today’s major challenges, Gordon S. Blair continues to develop its pro bono commitment alongside organisations operating in areas with significant human and societal impact.   In this context, the firm is pleased to support several committed organisations, including the NCMEC (National Center for Missing & Exploited Children), the Longevity Private Council, Association Montjoye and AMADE (World Association of Children’s Friends).   These collaborations focus on major issues such as child protection, solidarity, governance, succession planning, philanthropy and, more broadly, matters relating to sustainable impact and corporate social responsibility.   Through this initiative, Gordon S. Blair aims to place its legal expertise at the service of meaningful initiatives while supporting organisations engaged in projects pursuing public interest objectives.   This programme has generated genuine enthusiasm within the firm’s teams, who are particularly committed to contributing concretely to projects aligned with strong human values and a long-term vision.