The Source Code actress joins previously cast Owen Wilson and Pierce Brosnan.
Monaghan is set to play Wilson's wife in a story about an American family who moves to Southeast Asia and gets entangled in a coup with rebels, reports Deadline.
John Erick Dowdle is attached as the director, having co-written the script with his brother Drew Dowdle.
Production of the film will begin in October this year.
Monaghan was previously seen in Machine Gun Preacher and can be seen next in Tomorrow You're Gone, Gus and Penthouse North.
Watch the trailer for Machine Gun Preacher below: