Just weeks after taking the helm of Monaco’s Directorate of Economic Development, Julien Dejanovic is already setting out an ambitious roadmap aimed at modernising the Principality’s business environment while preserving its reputation for stability and integrity…
Speaking to Monaco Info, Dejanovic described the department as operating around three key pillars: supporting entrepreneurs, ensuring compliance, and protecting innovation. The directorate oversees the Monaco Business Office, which assists companies with launching operations and accessing financial support, while also supervising business registration and regulatory controls. A third division handles industrial property, including patents and trademarks.
Monaco’s strict authorisation system for businesses remains central to its economic model. Unlike many countries where companies can be created online within minutes, Dejanovic argued that Monaco’s more demanding approach helps maintain a serious and reliable commercial environment aligned with the Principality’s values. Around 600 commercial activities were authorised last year, bringing the total number of active businesses in Monaco to approximately 7,000.
A former consultant with experience in both the private sector and Monaco’s digital services administration, Dejanovic said his priority is now to improve the overall experience for entrepreneurs and new residents looking to establish themselves in the Principality.
Digitisation of administrative procedures, stronger support for innovation and artificial intelligence, and continued efforts against money laundering and terrorist financing are among the major projects he intends to pursue in the months ahead.
Image: Communication Department