San Marino company registration

DOING BUSINESS IN SAN MARINO IN 2023

Since 2003, Healy Consultants Group 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
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.

Tell us what you need - we’ll send you a customised proposal in 5 hours!

To help us engineer the optimum San Marino corporate structure, please complete the 3-minute questionnaire below; then press the submit button below.

This data remains confidential and is not sold to third-parties.

Within 5 hours, one of our senior staff will ring or email you:

Company purpose?
Will the LLC be a trading company or a holding company?
Will the entity be a subsidiary of a foreign company?
The LLC will be tax resident? Having local customers and local staff and local suppliers?
The entity will receive investment income or professional services fees or sales from trading with multi-national customers?
Is double taxation treaty access important?
Do you need our help to legally minimize your international tax obligations?
Do you need our help to increase e-commerce sales (click link)?
Company structure?
Will the shareholders be individuals or corporate?

In what country do you require a corporate bank account? Refer to this web page (click link) for ideas

Do you need multi-currency corporate visa debit cards?

Do you need a resident director?

Nationality of shareholders and directors?
Expected annual sales and net profits?
Does the entity need a special regulatory license or import or export license?
Additional comments?
Tell us about your existing business?
Name of your existing company?
Your business web site address?
What products and services does your company supply?
How many years are you operating this business?
Is your Firm regulated by a Government agency?
In what country are the majority of your customers?

In what country are the majority of your suppliers?
Tell us about you?
Your name?
Your email address?
What country are you based in?

Specifically, what deliverables (click link) do you need?
What is your US$ budget for the services you need?
What does quality customer service mean to you?
How do we contact you?
For now, do you prefer Healy Consultants Group staff to phone you, or just email reply you with some corporate solutions?
If a phone call, on what number can our senior Consultant call you?
If an email, what email address can our Consultant email you at?
What alternative email address can our Consultant email you at?
What is your preferred date and time for a phone call?
In what language do you prefer we communicate with you?
What matters would you like to discuss during the call; the agenda?

Thank you for taking the time to complete this important questionnaire. It will help us to timely complete your engagement with minimum inconvenience to you.

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