The Prince’s Government is launching the electronic signature for Monegasque companies, one of the initiatives of the Principality’s digital transition program – Extended Monaco.

The Prince’s Government is offering to Monegasque professionals a new digital certificate delivery service, in partnership with the Monegasque Digital Security Agency, the body in charge of the security of the Principality’s information systems.

Commonly called an electronic signature, it is the equivalent of a handwritten signature for a dematerialized document. It aims to demonstrate that a document has been signed by an identified person, that the document has not been modified and facilitates the digital transition of companies: for example in the dematerialization of pay slips, vouchers orders, invoices or contracts with suppliers.

This service currently concerns 6,343 economic agents in the Principality, including 76% SMEs or individuals. The government estimates that 2/3 of the contracts should be signed in less than 1 hour, representing 2 hours of productivity gain per contract on average, for the 631,368 dematerialized payslips of the 52,614 employees of the Principality.

This initiative is one of the projects of the Principality’s digital transition program, Extended Monaco. Established by the “Digital Principality” bill passed in December 2019, it will now allow companies to affix an electronic signature to digital documents with the same value as the handwritten signature.

«The electronic signature is an important issue in the digital transition of Monegasque companies as part of the country’s economic recovery plan. This measure allows optimized, identified and more secure exchanges between the various stakeholders. It establishes a common basis for electronic interactions between citizens, businesses and public authorities. ».

Jean Castellini, Government Counselor – Minister of Finance and the Economy

Using electronic signatures is a first step in the overall project, and starting next year, businesses will also be able to use a digital identity to securely authenticate online and access government services.

Considerable advantages for Monegasque companies

Easy to use, the electronic signature also represents a saving of time and space, as well as a significant fluidity of contractual exchanges with customers, while ensuring enhanced security for documents. In fact, each signature guarantees the integrity of the document, its authenticity and its non-repudiation. Thanks to the probative force of the electronic signature, business partners can trust dematerialized documents.

«The electronic signature will simplify the life of companies and users of the Principality, for all the daily acts which require a signature. Monaco thus joins technologically advanced states which have already deployed similar initiatives. For our companies, it means more security, speed, costs and space savings, especially in a context where distance has become the norm».

Frédéric Genta, Interministerial Delegate in charge of Digital Transition

Source: Communication Department of the Princely Government of the Principality of Monaco