San Marino company registration

DOING BUSINESS IN SAN MARINO IN 2022

pay fee by instalmentsbusiness setup without travelGuaranteed solutions

Since 2003, Healy Consultants Group PLC 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.

Compare different San Marino entities LLC Corporation High-technology start-up company Turnkey company Branch office
Also known as Società a responsabilità limitata Società Azienda start-up di alta tecnologia Azienda chiavi in ​​mano Filiale
Best use of company? All products and services All products and services Technological and innovation activities Close a business deal now Specific projects
How soon can you invoice Clients/sign sales contracts? 6 weeks 8 weeks 6 weeks 2 weeks 6 weeks
How soon can you hire staff? 6 weeks 8 weeks 6 weeks 2 weeks 6 weeks
How soon can you sign a lease agreement? 1 week 1 week 1 week 1 week 1 week
How long to supply corporate bank account numbers? 2 months 2 months 2 months 1 week 2 months
How long to supply company registration / tax numbers? 6 weeks 8 weeks 6 weeks 2 weeks 6 weeks
Corporate tax rate on annual net profits? 17% 17% 0% for up to 5 years 17% 17%
Limited liability entity? Yes Yes Yes Yes No
Government grants / incentives available? Yes Yes Yes Yes Yes
Government approval required for foreign owners? No No No No No
Resident director/partner/manager/ legal representative required? No No No No Yes
Minimum paid up share capital? € 25,500 € 77,000 € 25,500 € 25,500 None
Can bid for Government contracts? Yes Yes Yes Yes Yes
Corporate bank account location? Banca di San Marino CARISP Banca Agricola Commerciale Istituto Bancario Sammarinese Banca Commerciale Sammarinese Banca Partner
Can secure trade finance? Yes Yes Yes Yes Yes
VAT payable on sales to local customers? 0% 0% 0% 0% 0%
Average total business set up engagement costs? €17,150 €16,950 Request a proposal Request a proposal €18,250
Average total engagement period? 4 months 4 months 4 months 3 weeks 4 months

San Marino business setup summary

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  • Advantages of San Marino company registration

    business registration steps in San Marino

    1. 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 €25,500 and it takes six weeks to complete company formation procedures in San Marino, without our Client travelling to this country;
    2. Companies registered in San Marino are subject to corporate tax at a rate of only 8.5%, a much lower percentage compared to other Western European countries notably i) Italy ii) France iii) Belgium or iv) Germany.
    3. San Marino is an excellent jurisdiction for tourism companies due to the following government efforts:
      • Relaunching of San Marino as a tourist destination in 2019 by an investment of €150 million for approximately 30,000 sqm of commercial area. Further, this effort attracts more than 2 million tourists in the country per year;
      • Building of a new San Marino mega outlet hosting about 130 fashion brands along with numerous food and wine outlets covering 1200 sqm of area. this is one of the most promising opportunities for tourism businesses in the country.
  • Disadvantages of San Marino company registration

    1. 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;
    2. 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;
    3. 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.
    4. San Marino’s banking and financial sector was deeply affected after the international financial crisis in 2010. Most of the banks in the country are still repaying and recovering from their bad debts. Further, the banking sector suffers from a negative reputation due to unveiling of several money-laundering scandals post 2008 financial crisis.

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Useful links for San Marino

Contact us

For additional information on our company registration services in San Marino, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
Official portal of the Republic of San Marino Invest in San Marino San Marino Chamber of Commerce