2026-03-27

Gordon S. Blair Law Offices supports Equipage ADÉONA in the Rallye Aïcha des Gazelles 2026

Gordon S. Blair Law Offices is proud to stand alongside Equipage ADÉONA as sponsor in the 35th edition of the Rallye Aïcha des Gazelles, an internationally recognised all-female off-road rally taking place in Morocco. Bringing together nearly 400 women from around the world, this unique event is not a race of speed, but a challenge of navigation, endurance, resilience and strategic thinking. A meaningful commitment with real impact This sponsorship reflects the firm’s commitment to supporting ambitious initiatives that combine human values, determination and purpose. The participation of the ADÉONA team carries a strong charitable dimension, as it supports the Fondation Flavien, a Monaco-based foundation dedicated to fighting pediatric cancer and rare diseases. Each year, approximately 2,500 new cases of pediatric cancer are diagnosed, making it the leading cause of death by disease among children. Supporting research and raising awareness in this field is therefore not only meaningful, but essential. A remarkable adventure driven by determination The project is led by Laura Trastour and Anne-Charlotte Dimech, friends for five years and nurses in Monaco, whose shared ambition gave rise to a challenge that combines personal resilience with a collective cause. This adventure was born from the meeting between Xavier de Sarrau, our Managing Partner and a rally enthusiast, and Laura, who initiated this commitment and has been the driving force behind this inspiring initiative. Their participation reflects values that strongly resonate with the firm: commitment, endurance, courage and long-term vision. Backing projects that embody purpose and excellence At Gordon S. Blair Law Offices, we believe our role extends beyond legal and tax advisory. Supporting initiatives such as the Rallye Aïcha des Gazelles is a strong expression of the firm’s commitment to backing projects that create meaningful impact and embody excellence, solidarity and determination. The ADÉONA team’s adventure begins at Palais Nikaia in Nice on 28 March 2026 and concludes in Essaouira on 11 April 2026. Regular updates on the team’s progress will be shared on our LinkedIn page throughout the rally : https://www.linkedin.com/company/gordon-s.-blair/?viewAsMember=true. Their journey can be followed live here : https://live2026.rallyeaichadesgazelles.com/equipages/team-186/ (Team 186)

2026-03-25

Family longevity and strategic structuring at the « SIP Health & Wealth Summit Monaco »

As Principal Partner of the SIP Health & Wealth Summit Monaco, held on 24 March 2026, Gordon S. Blair Law Offices reaffirmed its position as a leading Law Offices, to international private clients in Monaco and beyond. At the heart of this year’s discussions was a central theme: family longevity, meaning the ability to preserve assets, values and cohesion across generations through structured governance and strategic foresight. Xavier de Sarrau, Managing Partner, opened the Summit with a keynote highlighting the importance of robust governance frameworks, a clear alignment between ownership and control, and effective asset protection mechanisms to ensure long-term continuity. Corinne Ricciardella, Partner, addressed the increasing complexity of succession planning in a cross-border environment, emphasising the need to anticipate conflicts of laws and to structure transmission efficiently in order to safeguard family interests. Edouard Mousny, Partner, explored the strategic role of exceptional assets — such as art collections — which, when properly structured, may become true legacy holdings, reflecting a family’s identity while supporting long-term preservation and transmission. Together, these perspectives reflect a clear conviction: family longevity is achieved through anticipation, structuring and a long-term vision. Within Monaco’s sophisticated private client environment, Gordon S. Blair Law Offices continues to support families in designing tailored structures that secure and transmit their assets across generations.  

2026-03-25

Corinne Ricciardella, Partner at Gordon S. Blair, at the PCD Conference in Monaco

Gordon S. Blair Law Offices was pleased to join as speaker the first outstanding PCD Conference on International Wealth Planning in Monaco on 19 March 2026. Corinne Ricciardella, Partner, spoke on “Global Relocation & Mobility Strategies”, sharing practical insights on international mobility, including tax and estate planning considerations before a parterre of leading international Private Clients professionals. Thanks to the PCD Group for this opportunity to exchange views on a topic that is at the heart of so many strategic and personal decisions today. Corinne’s participation in this conference reflects Gordon S. Blair’s recognised long-standing presence alongside international clients in Monaco since 1920. It also highlights the firm’s continued commitment to guiding clients through the evolving tax and legal landscape of the Principality, and beyond. With extensive experience in international tax, estate planning and cross-border structuring, Corinne advises private clients and family offices on asset protection and family organisation, tax planning and estate planning. She also supports their relocation to Monaco, including residency planning. PCD Monaco Conference | PCD

2026-02-13

Discover Gordon S. Blair through this interview filmed at the firm and broadcast on Monaco Info on February 12, 2026.

[embed]https://www.youtube.com/watch?v=GntM0pXWUgI[/embed]

2026-02-06

Careers

Legal Advisors and Tax Specialists Gordon S. Blair regularly recruits legal advisors and tax specialists to support the firm’s development. The firm’s activity is inherently international, involving the handling of legal and tax matters with cross-border aspects and an international client base. Successful candidates demonstrate strong analytical and drafting skills, a high level of rigor and commitment, and an ability to work effectively as part of a team on complex matters. Professional proficiency in English, both written and spoken, is essential.   Internships (Master’s level or PPI) Internships form an integral part of the firm’s recruitment policy. Interns at Master’s level or completing a PPI are welcomed throughout the year within the firm’s legal and tax teams, depending on operational needs and academic calendars. With a typical duration of three to six months, internships offer hands-on involvement in case work, including legal and tax research, analyses, drafting of memoranda and preparation of projects, under the supervision of lawyers and associates.   Current opportunities We invite you to explore the current opportunities available within our firm through our dedicated recruitment platform : https://careers.flatchr.io/fr/company/gordonblair/   Unsolicited application Should no current opportunity match your profile, we encourage you to submit a spontaneous application. Kindly send your curriculum vitae, together with a cover letter, to the following address: careers@gordonblair.com

2025-12-03

Gordon S. Blair – Law Offices participates in the MEB Economic Mission to Jeddah

From 23 to 27 November 2025, Xavier de Sarrau, our Managing Partner, represented Gordon S. Blair – Law Offices during the economic mission organized by the Monaco Economic Board (MEB) in Jeddah, Saudi Arabia. This initiative offered an opportunity to explore a key region of the Middle East, currently undergoing major transformation under the Vision 2030 strategic program.   A strategic port city and a true economic hub, Jeddah offers numerous opportunities across a wide range of sectors, including logistics, finance, tourism, yachting, innovation, and renewable energies.   Organized in partnership with the Jeddah Chamber of Commerce, the American Chamber of Commerce Saudi Arabia, and the Jeddah Yacht Club, the mission enabled:   targeted meetings with local economic stakeholders, valuable networking opportunities, and an immersion into a fast-evolving market.   This participation is fully aligned with the ambition of Gordon S. Blair – Law Offices to strengthen its international presence and support its clients in the world’s most dynamic economic regions.

2025-10-17

Monaco: a new balanced budget in 2026

Bill No. 1116 establishing the Initial General Budget for the 2026 fiscal year was tabled in public session and referred to the Commission on October 2, 2025. In view of the evolution of revenues and expenses, the 2026 Initial Budget shows a projected revenue surplus of €8.8 million. For the record, the 2024 financial year closed with a surplus of €192.7 million, while the 2025 Amended Budget shows a revenue surplus of €86 million. The 2026 budget forecasts revenues of €2.217 billion, up +5.7% (or +€118.6 million) compared to the 2025 Initial Budget (€2.098 billion) and expenditure forecasts of €2.208 billion, a slight increase compared to those in the 2025 Initial Budget (€2.187 billion, or +1%, or +€21.3 million). The main guidelines of this 2026 Preliminary Budget are as follows: Revenues for 2026 will increase by €118.6 million (+5.7%), driven by tax contributions (+€136.8 million), while state property revenues will decrease by €19.3 million (-4%). Despite this increase, they remain lower than in 2024 (–€107.7 million) and in the 2025 Amended Budget (–€272.7 million). Operating expenses increased by €41.7 million (+5%). On the other hand, investments fell by €56 million (-6.6%), particularly in acquisitions, the NCHPG, the CTVD and the Ilot Pasteur and Socle Charles III operations, while certain expenditures increased, such as the Villa Sauber (+€18.5 million), the Stade Louis II (+€23.1 million) and the National Housing Plan (+€48 million). In addition, the following actions are being pursued as part of the 2026 Preliminary Budget: Supporting the rollout of other major infrastructure projects, such as the renovation/reconstruction of Cap Fleuri and the renovation of public buildings; Continuing to strengthen resources for pedestrian mobility and digital transition; Supporting the Principality's attractiveness with the restructuring of Place des Moulins and the creation of a new operation dedicated to maintaining the Fontvieille Shopping Center. Finally, actions in the areas of social, cultural, sports, education, and quality of life continue to be supported in the 2026 Initial Budget by the State Budget.   Official source: https://www.conseil-national.mc/2025/10/01/n1116-projet-de-loi-portant-fixation-du-budget-general-primitif-de-lexercice-2026/

2025-10-01

Sovereign Ordinance implementing the law on the modernization of company law

Sovereign Ordinance No. 11.486 of 18 September 2025, published in the Journal de Monaco on 26 September 2025, implements Law No. 1.573 of 8 April 2025 on the modernization of company law. It regulates the transfer of acts performed on behalf of a company in formation. For commercial companies other than joint stock companies, the acts are appended to the articles of association and automatically transferred after registration, or may be signed by certain partners or the manager under a mandate. For public limited companies and limited partnerships with share capital, these acts are submitted to the constituent meeting, which may also appoint the first directors. After registration, any takeover requires a decision by the partners, unless otherwise provided for in the articles of association. For joint stock companies, the Ordinance sets out the content of the extract from the articles of association, provides for the publication of the choice of management method by the board of directors and imposes technical means to ensure the identification and participation of directors in the event of a videoconference. It defines the rules for convening, holding and recording general meetings of shareholders, specifying the mandatory information to be included in the notice of meeting, the minutes and the attendance sheet, the possibility of electronic signatures, and the procedures for representation by proxy. It determines the deadlines for the submission of draft resolutions, the communication of corporate documents prior to the meeting, the transmission of written questions and the deadlines for responses, and organizes the procedure for amending the articles of association, in particular by declaration to the Minister of State and publication in the Journal de Monaco. With regard to the public offering of financial securities or the admission of financial securities to trading on a foreign regulated market, which is subject to prior authorization by the Minister of State, the Ordinance stipulates that the application for authorization must contain the same information and documents as those that the public limited company must submit to the stock market authorities of the market concerned. With regard to the conciliation procedure, the application for conciliation must be accompanied by the registration extract, the statement of claims and debts, the securities, the annual accounts and the financial tables for the last three financial years, specifying, where applicable, the date of cessation of payments and the identity of the proposed conciliator. The Ordinance also regulates the time limits for the manager to respond to written questions and the procedures for their transmission prior to general meetings. The provisions of this Ordinance enter into force on 30 September 2025. https://journaldemonaco.gouv.mc/Journaux/2025/Journal-8766/Ordonnance-Souveraine-n-11.486-du-18-septembre-2025-portant-application-de-la-loi-n-1.573-du-8-avril-2025-relative-a-la-modernisation-du-droit-des-societes

2025-09-22

Bill No. 1.112 : new legal provisions for accounting and auditing

The bill amending various provisions relating to chartered accountancy, statutory auditing and corporate accounts was submitted to the General Secretariat of the National Council and registered by the latter on 25 July 2025 under number 1.112. The role of statutory auditor within Monegasque companies is one of the pillars of corporate governance. Changes in corporate practices and new requirements in terms of transparency and accountability now necessitate a targeted review of this system. This bill aims to modernise the profession of chartered accountant and certified public accountant, as well as the functions of statutory auditor and contribution auditor, following the passing of Law No. 1.573 of 8 April 2025 on the modernisation of company law, of which it constitutes an operational and thematic extension. The Prince's Government emphasised its desire to enhance the transparency, accountability and attractiveness of the legal framework applicable to Monegasque companies. The bill thus aims to complete the reform initiated by focusing on the effectiveness of statutory audits, the protection of shareholders and the strengthening of third-party confidence. This text provides in particular for: - strengthening the conditions for access to and practice of the profession of chartered accountant, integrating the profession of certified accountant into that of chartered accountant and redefining their responsibilities; - supplementing the rules on incompatibilities applicable to contribution auditors and statutory  auditors; -    adapting the system of criminal penalties in order to ensure a fair balance between the effectiveness of account auditing obligations and the constraints on businesses; - introduce the concept of a ‘public interest entity’ and allow for a term of office extended to twenty-four fiscal years for auditors of such entities in order to ensure stability of control; - to establish the obligation for certain companies known as ‘parent companies’ to prepare and file consolidated accounts. This would apply to public limited companies or limited partnerships with share capital that carry out commercial activities, as well as commercial companies, provided that they exercise exclusive or joint control over one or more legal persons or entities. This reform will provide a coherent legal framework adapted to the contemporary international challenges facing the accounting profession and the functions of statutory auditors and contribution auditors, thereby strengthening legal certainty for companies, third parties and accounting professionals. https://www.conseil-national.mc/2025/08/08/n1112-projet-de-loi-portant-modification-de-diverses-dispositions-relatives-a-lexpertise-comptable-au-commissariat-aux-comptes-et-aux-comptes-sociaux/

2025-07-03

Law proposal n° 269 on trusts

The law proposal on trusts was submitted to the General Secretariat of the Conseil National and registered by the latter on 10 June 2025 under number 269. A trust is a transfer of ownership limited in substance and duration, which has various interests that distinguish it from other legal arrangements: - a management trust, which allows a professional manager to be entrusted with a number of assets of different kinds in order to benefit from their expertise and management resources for the benefit of the settlor or beneficiaries; - security trusts, which allow the settlor to grant the creditor a security interest in the assets transferred to them and to strengthen their control over the repayment of their debt. In Monaco, in 2010, a law proposal (n° 197) envisaged the "creation of trusts under Monegasque law" and in 2012 a draft law proposed an alternative to the "security trust" with a view to enriching Monegasque law with a "security ownership agreement". Neither of these projects came to fruition, but they inspired the drafting of this law proposal. This law proposal will enable Monegasque law to be adapted to developments in business practice in order to enrich the wealth engineering options that Monaco can offer with trust management and to strengthen Monegasque law on securities and companies in difficulty through the use of security trusts. The law proposal n° 269 aims to establish trusts as a new legal instrument for asset management in Monegasque law. The law proposal comprises eight chapters and forty-four articles. https://www.conseil-national.mc/2025/06/10/n269-proposition-de-loi-relative-a-la-fiducie/    

2025-06-25

Law proposal n° 268 on the Monegasque Patrimonial Foundation

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/

2025-06-17

The Time Savings Account: Approval has been granted for transforming of Bill No. 262 into a Draft Law.

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.