DOING BUSINESS IN SAN MARINO
Since 2003, Healy Consultants has assisted our Clients with starting their business in San Marino. Our services include i) San Marino business registration ii) business license registration iii) corporate bank account opening services in San Marino and abroad iv) immigration-related solutions v) office space solutions in San Marino and Italy and vi) employment strategies.
Press the link headings below to read detailed, relevant, up to date information.
Advantages and disadvantages
Advantages of San Marino company registration
- It is possible to form a company in San Marino with only i) one director and ii) one shareholder. The minimum paid-up capital required is €12,750 and it takes six weeks to complete company formation procedures in San Marino, without our Client travelling to this country;
- Companies registered in San Marino are subject to corporate tax at a rate of only 17%, a much lower percentage compared to other Western European countries notably i) Italy ii) France iii) Belgium or iv) Germany.
Disadvantages of San Marino company registration
- San Marino is not a good place to form a trading company because i) the city-State’s population is only recorded at 31,000 inhabitants and ii) the country is not a member of the European Union, which means that our Clients can potentially face customs tariffs when exporting their products to the EU;
- While registering a company in San Marino used to be a way to obtain residency in this State and hence legally reduce income tax payable, such strategy now confer much reduced benefits to EU citizens due to the recent signature of a tax agreement. The local authorities have also made it much harder to obtain residency permits for foreign nationals;
- San Marino’s official language is Italian therefore all business documents must be translated into Italian before San Marino company formation can be completed. English-speaking investors will also face communications issues when dealing with their local business partners.
- Time to incorporate: Six weeks
- Cost to set up: €15,150
- Minimum capital: €12,750
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 17%
- Corporate tax base: Worldwide
- Shelf companies: No
- Main company type: S.R.L.
Useful links for San Marino