MCO · snapshot 2026-08-09
Monaco
Insufficient dataOverall risk score
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Percentile of scored universe
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Data coverage
55%
vs Australia (16.1)
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Category breakdown
Political Stability & Governance
Low6 indicators · 100% coverage
Economic Resilience
Insufficient dataInsufficient data
Financial & Currency Risk
Insufficient dataInsufficient data
Business Environment
Insufficient dataInsufficient data
Security & Crime
Insufficient dataInsufficient data
Climate & Social Compliance
Insufficient dataInsufficient data
Technology & Digital
Low4 indicators · 100% coverage
Cultural Distance
Insufficient dataInsufficient data · not in overall score
Key risks and considerations
Monaco does not meet the floors for an overall rating: only 2 of 7 weighted categories could be scored (minimum 5) and data coverage is 55%, below the 70% floor. Treat the category detail below as partial evidence, not a verdict.
The main risk drivers are no double-tax agreement with Australia, no investment-treaty protection with Australia and a boom-bust growth record (±9.2 pp over the decade).
Possible mitigations
- Banking friction. FATF-listed jurisdiction: expect enhanced due diligence, slower cross-border payments, and possible correspondent-banking gaps — keep KYC documentation impeccable and allow longer settlement times.
- Withholding tax. No double-tax agreement with Australia: model withholding tax on dividends, interest, and royalties into the business case — it can decide the entity-vs-export question.
Generated automatically from this snapshot’s indicator data — a starting point for analysis, not advice.
Indicators
| Indicator | Value | Risk score | Rating | Australia | Data source year | Source |
|---|---|---|---|---|---|---|
| Political Stability & Governance | ||||||
| Voice & accountability (WGI) | 71.5 | 23.7 | Low | |||
| Government effectiveness (WGI) | 85.1 | 6.1 | Low | |||
| Regulatory quality (WGI) | 72.2 | 14.9 | Low | |||
| Rule of law (WGI) | 80.1 | 10.4 | Low | |||
| Control of corruption (WGI) | 84.3 | 5.6 | Low | |||
| Political stability & absence of violence/terrorism (WGI PV) | 87.1 | 7.2 | Low | |||
| Economic Resilience | ||||||
| GDP growth (3-yr average, %) | 8.4% (3-yr avg) | 65.0 | High | |||
| Growth volatility (10-yr std dev, pp) | ±9.2 pp | 92.5 | Very High | |||
| Government net debt (% of GDP) | — | — | Insufficient data | |||
| Inflation (CPI %, vs income-group target) | — | — | Insufficient data | |||
| Current account (3-yr average, % of GDP) | — | — | Insufficient data | |||
| FX reserves (months of import cover) | — | — | Insufficient data | |||
| GDP per capita (PPP, current intl $) | — | — | Insufficient data | |||
| Financial & Currency Risk | ||||||
| Capital-account openness (Chinn-Ito KAOPEN) | — | — | Insufficient data | |||
| Currency stability (regime-aware classification) | — | — | Insufficient data | |||
| Sovereign credit risk (OECD country risk classification) | Category 0 / 7 | 2.0 | Low | |||
| FATF listing (grey / black list status) | Grey list | 45.0 | Medium | |||
| Double-tax agreement with Australia | None in force | 100.0 | Very High | |||
| Business Environment | ||||||
| FDI regulatory restrictiveness (OECD FDIRRI) | — | — | Insufficient data | |||
| Logistics performance (World Bank LPI) | — | — | Insufficient data | |||
| Business readiness (World Bank B-READY pillar average) | — | — | Insufficient data | |||
| Investment protection with Australia in force (BIT or FTA investment chapter) | None in force | 100.0 | Very High | |||
| Security & Crime | ||||||
| Armed-conflict intensity (battle deaths per 100k, 5-yr) | 0.0 | 29.7 | Medium | |||
| Intentional homicide rate (per 100k) | 3.1 | — | Insufficient data | |||
| Organised crime pervasiveness (GI-TOC criminality score) | 2.6 | 4.4 | Low | |||
| DFAT Smartraveller advisory level | — | — | Insufficient data | |||
| Climate & Social Compliance | ||||||
| Physical climate vulnerability (ND-GAIN vulnerability) | 0.390 | 28.2 | Medium | |||
| Disaster risk (INFORM Risk Index) | — | — | Insufficient data | |||
| Modern-slavery prevalence (per 1,000) | — | — | Insufficient data | |||
| Modern-slavery vulnerability score | — | — | Insufficient data | |||
| Technology & Digital | ||||||
| E-government development (UN EGDI) | 0.7 | 42.2 | Medium | |||
| Internet users (% of population) | 99.0 | 3.5 | Low | |||
| Cybercrime origination (World Cybercrime Index) | 0.0 | 10.0 | Low | |||
| Secure internet servers (per million people) | 41495.2 | 13.7 | Low | |||
Per-indicator ratings are quartile bands of the 0–100 risk score. The Australia column shows the same indicator’s raw value for the Australian baseline in this snapshot.
Cultural distance
GLOBE 2004 societal practices · rated on distance from Australia · not in the overall score
Context — not scored
Unemployment
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Displayed, never scored: ambiguous for an entrant and unreliable where informal employment dominates.
Trade agreement
No Australian FTA in force
Market access is decision-relevant but a benefit, not a risk — kept out of the rating.
Regional advisories
No higher regional advisory levels
DFAT Smartraveller sub-national advice where it exceeds the overall level.
Compare with
A score means little on its own. These economies scored closest to Monaco in this snapshot, which is the fastest way to see whether the rating is telling you something specific or something regional.