The law proposal on the Monegasque Patrimonial Foundation was submitted to the General Secretariat of the Conseil National and registered by the latter on 10 June 2025 under number 268 and adopted in public session on 18 June 2025. Monegasque foundation law has lagged behind developments in other European countries, such as Switzerland, Liechtenstein and the Netherlands.   However, legal instruments of this type are essential to meet the asset structuring needs of a significant proportion of Monegasque residents, particularly High Net Worth Individuals (HNWIs). These individuals are seeking the most effective solutions to protect high-value assets such as real estate, works of art and family property, to transfer company shares, or to guarantee the integrity of their estate in the event of inheritance or family disputes.   The patrimonial foundation could enable better management of copyright or even anticipate the future use of an art collection by specifying in its constitution that these assets must remain within the immediate family or be made accessible to the public in the form of loans to museums, for example.   This law proposal provides for the creation of a new type of foundation, in order to provide Monegasque law with an innovative wealth engineering tool.   This law proposal will allow for the creation of a legal entity under Monegasque law intended to manage assets primarily for the benefit of the founder's family members. It may consist of real estate or movable property, such as shares in companies, but also intangible rights such as copyright.   Upon its establishment, the foundation must be endowed with a sum of not less than €10,000,000. In addition, the endowment may be made in kind. Furthermore, the Monegasque patrimonial foundation is intended exclusively for persons with a genuine link to Monaco, as the founder and the majority of the administrators must be domiciled there.   Among the measures provided for in the law proposal are the obligation to register the foundation in the special register kept by the Trade and Industry Register, to declare the identity of the beneficiaries and to register them in the register of beneficial owners (companies and economic interest groups), and to appoint a person responsible for basic information about the foundation and its beneficiaries.   https://www.conseil-national.mc/2025/06/18/n268-proposition-de-loi-relative-a-la-fondation-patrimoniale-monegasque/

In a letter dated 28 May 2025, the Prince's Government informed the President of the National Council that it had given its approval for transforming Bill No. 262 on the Time Savings Account ("Compte Epargne Temps", or "CET") into a draft law. This text extends the CET regime, which was introduced into Monaco's labor law by Law No. 1505 of June 24th, 2021. This law relates to concerted working time arrangements over a reference period longer than one week. The objective is to furnish all employees with a flexible time management instrument, enabling them to accrue entitlements to remunerated leave. The CET may be credited with annual paid leave days exceeding the 24-day threshold, seniority leave, collective agreement leave entitlements, overtime rest days or monetary equivalents. The CET also offers companies a distinct advantage by supporting greater flexibility in working time arrangements. It is particularly beneficial in ensuring a more effective alignment between the scheduling of leave and fluctuations in business activity, as it prevents unused leave days from being lost at the end of a period. Any unused leave days can be taken at a later date when workloads are lower. In addition, it functions as a method of employee retention. The CET can be established through a collective bargaining agreement or, failing that, by a decision of the employer after consultation with trade union delegates or staff representatives. The general operating procedures of the CET, the conditions of its funding, any potential employer contribution, and the terms of its use will be determined by the collective agreement or the employer's decision. In the event of termination of the employment contract, the employee is entitled to an indemnity payment. This payment is equivalent to the number of days accumulated in the CET, unless there is a provision in the collective agreement or in the employer's decision to the contrary. The value of the day is assessed on the date of payment. The draft law is to be submitted to the National Council no later than 5 June 2026.

Bill No. 1108, submitted by the Monaco Government on April 30th, 2025, introduces a new method for the termination of permanent employment contracts in Monaco.   This text represents a significant change in Monegasque labour law, introducing a method of amicable separation between employee and employer.   Termination by mutual agreement between employee and employer. Initiative belonging to both employer and employee. Cannot be imposed by either party. Freedom of consent strictly protected. Significant latitude for negotiating on the terms and conditions of contract termination, within the limits of the procedural rules laid down.   Calculation of statutory minimum entitlement: Less than 2 years' seniority corresponds to one quarter of a month's salary per year of seniority. After 2 years of seniority, compensation must be at least equal to the severance pay so called “indemnité de congédiement”.   There is a withdrawal period of 15 calendar days for both parties. Approval by the labour inspectorate must be granted within 15 working days. If there is no answer, the agreement is deemed approved. However, for protected employees, if there is no answer, it is deemed refused.   Once approved, the law will come into force subject to an agreement with France, to enable employees working in Monaco to entitle from unemployment benefits in their country of residence, in the event of recourse to the Monegasque system of mutual termination agreement of employment contracts.   There are advantages for the employer to remedy to the mutual termination rather than the dismissal provided for by article 6 of law No.729. There is a very limited risk of litigation. Severance pay may be lower. There is the possibility to resolve a deadlock situation when recourse to article 6 is restricted – either by custom or agreement or when the employee benefits from specific protection.