Business behaviour in Monaco emphasizes courtesy and a degree of formality. Mutual trust and respect is required to get things done. Trust is earned through proper behaviour. Creating a wide network of close personal business alliances is very important.
If you do not speak French, an apology for not knowing their language may aid in developing a relationship. It is always a good idea to learn a few key phrases, since it demonstrates an interest in a long-term relationship. The way a Monegasque person communicates is often predicated by their social status, education level, and which part of the country they were raised.
In business, Monegasques often appear extremely direct because they are not afraid of asking probing questions. Written communication is formal. Secretaries often schedule meetings and may be used to relay information from your Monegasque business colleagues.
Business Meetings Etiquette
• Appointments are necessary and should be made at least 2 weeks in advance.
• Appointments may be made in writing or by telephone and, depending upon the level of the person you are meeting, are often handled by the secretary.
• Do not try to schedule meetings during July or August, as this is a common vacation period.
• If you expect to be delayed, telephone immediately and offer an explanation.
• Meetings are to discuss issues, not to make decisions.
• Avoid exaggerated claims, as the locals do not appreciate hyperbole.
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