It could have gone terribly wrong, a case study on holding an event in Monaco
The Principality is a fabulous destination in which to visit and live, but also to conduct business, and holding an event in the Principality is often the first step for companies wishing to create awareness about their offering.
However, Monaco is also a highly regulated country; it has many regulations in place to protect its residents and companies from unscrupulous activities, what may be perfectly normal or legal in other countries, but may be illegal in Monaco without authorisation.
“Why, because of the amount of privacy that makes Monaco what it is a safe and secure environment that prides itself on protecting its market. The Government and the residents take great pride in their country, and why shouldn’t they; it is the most-fabulous destination in the world.” – says André C Perry, CEO of Monaco Wealth Management
On a daily basis, there are many great events being held in Monaco, and there is always events catering for the financial industry, fundraising, investor events etc.
As an example, if you were to hold a financial event in Monaco, it is your responsibility to check that the event you are organizing complies with Monaco legislation. Otherwise, you could expose yourself to criminal prosecution, and closure of your event by the Monaco Police.
Why? Because financial activities are strictly regulated in Monaco including investment advice on securities or financial futures (law 1.338) that cannot be exercised without the approval of the Commission de Contrôle des Activités Financières (Financial Activities Supervisory Commission) (CCAF).
“What may seem normal in London, Hong Kong or the US, may be regulated in Monaco.” – says André C Perry, CEO of Monaco Wealth Management
To this effect, this is why it is always advisable to engage advisors who understand this unique market, so you do not make either legal or financial mistakes in the process.
Since 2010, Monaco Wealth Management has helped companies from around the world take the right approach and connect you with the trusted service providers in Monaco
Some of our unique key services to help you be successful in Monaco are:
- Recommendation on location and event strategy
- Advisory on the customer experience suited to Monaco
- Guest selection – helping you connect with potential clients
- Management of invitations
- Local assistance for the event
- The organisation of media coverage
Monaco is a wonderful and exciting country in which to host your next event, just be sure to engage an advisor that can help guide you through the process to ensure you comply with the regulations that may be applicable in Monaco.
“Remember, privacy, security and protecting the Monaco brand is of high importance in the Principality of Monaco, meet these requirements and you have in the making a successful event.” – says André C Perry, CEO of Monaco Wealth Management
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