Business entities in San Marino in 2022

pay fee by instalmentsbusiness setup without travelGuaranteed solutions

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 €25,500 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

Compare different San Marino entities LLC PLC Branch
Also known as SRL SPA Branch
How long to set the company up? 6 weeks 8 weeks 6 weeks
How long to open company bank account? 4 weeks 4 weeks 4 weeks
Legal liability? Limited Limited Unlimited
Wholly foreign owned? Yes Yes Yes
Minimum paid-up share capital? €25,500 €77,000 N/A
File annual tax return? Yes Yes Yes
Tax registration certificate required? Yes Yes Yes
Recommended corporate bank account? Banca di San Marino CARISP Banca di San Marino
Does our Client need to travel? No No No
Resident director or representative required? No No Yes
Resident shareholder required? No No No
Minimum directors allowed? 1 1 N/A
Minimum shareholders? 1 1 N/A
Corporate shareholders allowed? Yes Yes N/A
Corporate director(s) allowed? No No N/A
Statutory audit required? No Yes Yes
San Marino corporate tax rate? 17% 17% 17%
Annual financial statements required? Yes Yes Yes
Allowed to issue sales invoices? Yes Yes Yes
Allowed to sign contracts? Yes Yes Yes
Allowed to import and export goods? Yes Yes Yes
Can rent office space in San Marino? Yes Yes Yes
Can buy real estate property? Yes Yes Yes
Total San Marino business setup costs in yr. 1? €17,150 €16,950 €18,250
Subsequent annual costs (incl. accounting and tax fee)? €7,250 €9,250 €8,900
Sample engagement invoice? View invoice PDF View invoice PDF View invoice PDF

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Contact us

For additional information on our business setup services in San Marino, please contact our in-house country expert, Mr. Seth Ochieng, directly:
Director of Client Engagements - Seth
  • Mr. Seth Ochieng
  • Director of Client Engagements
  • Contact me!
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