Business entities in San Marino

Business entities in San Marino

Healy Consultants will assist our Clients with incorporating the optimal corporate structure for their company. There are several ways of doing business in San Marino, the most common being through the setup of a San Marino LLC. San Marino PLC is an interesting option, for our Clients able to afford the higher capital requirement of €77,000. Alternatively, foreign companies can also register a San Marino branch or a local representative office.

The San Marino limited liability company (SRL)

This is the most common type of business entity in San Marino. Business formation requires minimum paid up capital of €12,750 for incorporation. Only one shareholder and one director is required for the incorporation process to be completed;
Setup an LLC in San Marino

The San Marino joint stock company (SPA)

The San Marino SPA/PLC requires minimum paid-up capital of €77,000 to incorporate. The full amount must be deposited into a corporate bank account prior to incorporation of the company in San Marino. After business setup, it is possible to list the entity on a stock exchange, for instance on the Milan stock exchange.

The San Marino branch

The parent company is responsible for the business activities of the branch office. There is no minimum paid-up capital requirement for registration of a branch office in San Marino. Taxes are however to be filed every fiscal year just like any other business entity.

Different types of business entities in San Marino

 LLCPLCBranch
Also known asSRLSPABranch
How long to set the company up?6 weeks8 weeks6 weeks
How long to open company bank account?4 weeks4 weeks4 weeks
Legal liability?LimitedLimitedUnlimited
Wholly foreign owned?YesYesYes
Minimum paid-up share capital?€12,750€77,000N/A
File annual tax return?YesYesYes
Tax registration certificate required?YesYesYes
Recommended corporate bank account?Banca di San MarinoCARISPBanca di San Marino
Does our Client need to travel?NoNoNo
Resident director or representative required?NoNoYes
Resident shareholder required?NoNoNo
Minimum directors allowed?11N/A
Minimum shareholders?11N/A
Corporate shareholders allowed?YesYesN/A
Corporate director(s) allowed?NoNoN/A
Statutory audit required?NoYesYes
San Marino corporate tax rate?17%17%17%
Annual financial statements required?YesYesYes
Allowed to issue sales invoices?YesYesYes
Allowed to sign contracts?YesYesYes
Allowed to import and export goods?YesYesYes
Can rent office space in San Marino?YesYesYes
Can buy real estate property?YesYesYes
Total San Marino business setup costs in yr. 1?€15,150€16,950€18,250
Subsequent annual costs (incl. accounting and tax fee)?€7,250€9,250€8,900
Sample engagement invoice?San Marino LLC invoiceSan Marino JSC invoiceSan Marino branch invoice

External videos

Contact us

For additional information on our business setup services in San Marino, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Seth Ochieng, directly:
Official portal of the Republic of San Marino Invest in San Marino San Marino Chamber of Commerce