Breaking with long-standing tradition on the Rock, Monaco’s new Minister of State, Christophe Mirmand, has refused a “welcome gift” from the Société des Bains de Mer (SBM) — a gesture that offered privileged access to the Principality’s most exclusive hotels, restaurants and private beaches.
Mirmand, who took office on July 21, 2025 after serving as Prefect of the Provence-Alpes-Côte d’Azur region, was sent a membership card by SBM president Stéphane Valéri. The card, discreetly passed to each incoming head of government, grants significant discounts and freebies at establishments such as the Hôtel de Paris, the Hôtel Hermitage, and Michelin-starred restaurants where dinners can reach €500 a head, excluding wine.
While his predecessors reportedly accepted the perk, Mirmand quietly declined, returning the offer by letter. His reasoning was straightforward: as head of government, he already receives an official residence, staff support and a net monthly salary of €35,000. Accepting additional privileges, he hinted, risked creating undue ties to one of Monaco’s most powerful financial players.
The gesture is not insignificant. Suites at the Hôtel de Paris can top €15,000 a night, while seasonal access to SBM’s private beach runs between €7,000 and €26,000. The government itself holds a 40% stake in SBM, making it the group’s largest shareholder, ahead of investors such as Aaron Frenkel and luxury giant LVMH. With such financial proximity, Mirmand’s decision signals a deliberate show of independence.
At his first press conference on Thursday, September 11, the Minister of State set a firm tone on compliance, stressing that bringing Monaco off the Financial Action Task Force (FATF) grey list by mid-2026 is a top priority. “Conformity with international standards is also a condition of our prosperity,” he declared.
For Monaco, a country under scrutiny by the EU for gaps in its fight against money laundering and terror financing, Mirmand’s symbolic refusal may be read as part of a wider effort to reinforce integrity and distance politics from privilege.
