As part of the Monegasque Government’s economic recovery plan, a previously unheard of renovation work subsidy has been implemented. This subsidy is intended to encourage individuals to carry out work in their homes by calling on the Principality’s building professionals.
The renovation subsidy can be requested by tenants and owners alike as long as the individual is a resident of Monaco and is over the age of 65 years. Those approved for the scheme will benefit from a 20 percent subsidy of the total cost of the job but this will be capped at €2,000. Upon the presentation of the invoice, the premium will be awarded by the state to the individual’s chosen company.
With this subsidy scheme, the government aims to improve the quality of residents’ and Monegasques’ lives while supporting the local economy and business in a time of uncertainty during the unprecedented crisis. To begin the process of applying for this scheme click here.