Legal System

Monaco has an independent legal system, Law Courts and Appeal Court. Although Monaco’s legal system is significantly influenced and based on the French Code Civil, it is distinctly different from the France’s legal system especially where foreigners are concerned. Monaco’s legal system is much more welcoming to foreigners than France’s is.

Civil law, also called Continental law or Romano-Germanic law, is the most prevalent legal system in the world. The main difference between civil and common law is that that common law draws abstract rules from specific cases, whereas civil law starts with abstract rules, which judges must then apply to the various cases before them. In other words, historically speaking, common law is based upon traditions and laws are codified following court rulings. On the other hand, in the case of civil law, laws are first codified and then applied.

Currency

Official name: Euro

Currency code: EUR

Abbreviation: €

Exchange rate: free floating/flexible

Official users: Austria, Belgium, France, Finland, Germany, Greece, Ireland,

Italy, Luxembourg, Monaco, the Netherlands, Portugal, San Marino, Slovenia, Spain, and Vatican City.

Unofficial users: Andorra, Kosovo, and Montenegro

Pegged by: BAM, BGN, CVE, KMF, XPF, XOF, XAF, EEK, LTL, LVL, MTL