SARL is the most common legal entity form in Monaco and also the most popular. It is a form of company with limited liability for shareholders limited to their contribution. SARL does not require public participation in the market, nor does it require the designation of a legal representative. However, it requires at least two shareholders and two directors, one of whom must be a local resident. Additionally, SARL does not require a company secretary. The minimum registered capital is 15,000 euros and requires capital verification. This means that shareholders must contribute to the company to prove that they have sufficient funds to operate the business. SARL is a popular legal entity form in Monaco because it provides a flexible ownership structure while also protecting the personal assets of the shareholders.