Monaco eases borrowing rules for people with serious health histories
By Zak Jackson, MonacoViews Editorial
A new law makes it easier for residents who have faced serious illness to access bank loans, removing health status as a barrier to financing personal projects.
Law No. 1.561, passed on 2 July 2024 following a proposal from the Conseil National, changes how lenders and insurers in Monaco assess borrowers who have a history of serious illness. Under the new framework, a past medical condition should no longer automatically disqualify a resident from obtaining a bank loan or the insurance cover required to secure one.
The legislation was developed through close consultation with Monaco's financial and insurance sectors, including representatives from the Association Monégasque des Activités Financières and the Chambre Monégasque de l'Assurance. That involvement gives the rules practical grounding, rather than placing an unworkable compliance burden on lenders operating in the Principality.
For residents who have been through cancer treatment, cardiac events or other serious conditions, the change is meaningful. Accessing mortgage finance or a personal loan to fund a business or property project has, until now, been complicated or blocked entirely by insurers citing elevated health risk. The new law sets clearer limits on how far that risk assessment can reach into a borrower's medical past.