San Marino company registration

DOING BUSINESS IN SAN MARINO IN 2019

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.

Summary table of San Marino company registration

SummaryLLCCorporationHigh-technology start-up companyTurnkey companyBranch office
Also known asSocietà a responsabilità limitataSocietàAzienda start-up di alta tecnologiaAzienda chiavi in ​​manoFiliale
Best use of company?All products and servicesAll products and servicesTechnological and innovation activitiesClose a business deal nowSpecific projects
How soon can you invoice Clients/sign sales contracts?6 weeks8 weeks6 weeks2 weeks6 weeks
How soon can you hire staff?6 weeks8 weeks6 weeks2 weeks6 weeks
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week
How long to supply corporate bank account numbers?2 months2 months2 months1 week2 months
How long to supply company registration / tax numbers?6 weeks8 weeks6 weeks2 weeks6 weeks
Corporate tax rate on annual net profits?17%17%0% for up to 5 years17%17%
Limited liability entity?YesYesYesYesNo
Government grants / incentives available?YesYesYesYesYes
Government approval required for foreign owners?NoNoNoNoNo
Resident director/partner/manager/ legal representative required?No NoNoNoYes
Minimum paid up share capital?€ 25,500€ 77,000€ 25,500€ 25,500None
Can bid for Government contracts?YesYesYesYesYes
Corporate bank account location?Banca di San MarinoCARISPBanca Agricola Commerciale Istituto Bancario SammarineseBanca Commerciale SammarineseBanca Partner
Can secure trade finance?YesYesYesYesYes
VAT payable on sales to local customers?0%0%0%0%0%
Average total business set up engagement costs?€ 15,150€ 16,950Request a proposalRequest a proposal€ 18,250
Average total engagement period?4 months4 months4 months3 weeks4 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 €12,750 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 17%, 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.

Company registration

  • Time to incorporate: Six weeks
  • Cost to set up: €15,150
  • Minimum capital: €12,750
  • Physical office required: No

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 17%
  • Corporate tax base: Worldwide
  • Shelf companies: No
  • Main company type: S.R.L.

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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. Seth Ochieng, directly:
client relationship officer - Seth
Official portal of the Republic of San Marino Invest in San Marino San Marino Chamber of Commerce