The government has announced that several of the Principality’s elevators and escalators will be replaced over the next five years to upgrade them to more modern and usable models.
Monaco will have new lifts and escalators installed all over the country over the next five years, with several changes happening in the coming months. In all this year, six escalators and nine public elevators will be replaced, and two escalators will be removed to make way for a glass-panelled lift.
Four of the current six escalators situated in the underground passage of the Carrefour de la Madone will be switched and the remaining two will be swapped out for the glass elevator, allowing those with reduced mobility to safely access the shops located sub-ground level.
The removal and reinstallation of the new systems will be carried out from 8pm at night to ensure the least disruption and are scheduled to run from 12th July to 1st October 2021.
Additionally, two escalators at 17 Rue Grimaldi will be replaced. The work on these will start on 9th August, also with an estimated end date of 1st October.
The nine lifts to undergo facelifts are two public ones of Agaves, the three at Parking de la Costa, two on the north side of the Saint-Charles complex, and two at the Exotic Garden Parking, connecting them to Hector Otto.
This last site will commence work on 19th July with a total replacement of one of the elevators serving the different levels of the car park, though the other lift will remain in operation. When the first is completed on 17th September, the second will then be taken out of service for its turn. Both are scheduled to be fully operational by 12th November. Users will still be able to use the car park during the work.
[caption id="attachment_28551" align="alignnone" width="640"] Photo: Alpha Stock Images/Nick Youngson[/caption]
This article is part of an interview with Monaco Open for Business: Serge Pierryves, Director of Monaco's Business Development Agency (Direction de l'Expansion Economique).
During the first year of a new business activity, Monegasque citizens or their spouses may apply for a grant or a loan to help them finance the setting up of a new business, on condition that the business is their only professional activity, that is, that they have no other paid activity. This aid can be obtained for any business activity for self-employed workers or companies in the sectors of commerce, industry, artisanal, professional and services.
The grant consists of two components and is generally granted for a three-year period.
The first component is a contribution towards the payment of rent for business premises to be used as the head office or main premises. It is paid in the form of a subsidy and is capped on a sliding scale each year (€710 per month in the first year, €510 per month in the second year and €300 per month in the third year).
The second component covers contributions towards social charges for self-employed workers. In other words, the state will cover health and pension payments to the Caisse d'Assurance Maladie des Travailleurs Indépendants (CAMTI) and to the Caisse Autonome des Retraites des Travailleurs Indépendants (CARTI).
This grant represents more than €5,000 per year for each beneficiary, and an annual budget of around €650,000 for the state.
Beneficiaries can also obtain an installation loan to help them cover any work needed to be carried out on the business premises and to purchase furniture, materials and stock. It can also be used to buy a business or a lease. The loan is capped at €100,000 (and 80 percent of the value of the investment), for a maximum period of ten years.
The loan can be reimbursed in advance, at any time, without penalties being incurred.