San Marino at a glance
San Marino is one of the EU jurisdictions founders most often use today, especially while the EU-wide 28th Regime (EU Inc) is still a proposal. Below are the verified essentials: company types, tax, capital, timing and whether you can set up remotely.
Company types in San Marino
- S.r.l. (Societa a Responsabilita Limitata) The most common limited liability company for founders. Minimum capital EUR 25,500, at least one shareholder and one director, 100% foreign ownership allowed.
- S.p.A. (Societa per Azioni) A joint-stock company for larger ventures or raising capital. Minimum capital EUR 77,000.
| Corporate tax | Flat 17% corporate income tax (IGR) on profits. New businesses pay a reduced 8.5% for their first five years, and high-tech innovative start-ups (the SUT regime) pay 0% to 8%. Dividends to individuals are taxed at 5%. |
|---|---|
| VAT rate | No VAT. San Marino levies a single-stage import tax (imposta monofase) on goods entering the country instead, at a 17% standard rate (with lower category rates), refunded when goods are re-exported. |
| Dividends & payroll taxes | Dividends to resident individuals carry a modest flat withholding of around 5%. Personal income tax climbs into the mid-30s at the top, employer contributions add roughly a quarter of salary, and new-business regimes can cut the corporate side sharply. |
| Minimum share capital | S.r.l.: EUR 25,500. S.p.A.: EUR 77,000. At least half the capital is paid up within 60 days of registration. A high-tech start-up can be formed with as little as EUR 1 per share. |
| Setup time | Roughly 4 to 8 weeks (about 6 for an S.r.l.), plus around 4 weeks (up to about 2 months) to open the corporate bank account. |
| Remote setup | Yes. Non-residents can fully own and manage a San Marino company and incorporate remotely through a notarial deed (by power of attorney) and a local agent, with no travel required. A San Marino registered office and a local bank account (for the capital deposit) are still needed. |
| Director / residency | No resident director or shareholder required for an S.r.l. or S.p.A.; non-resident directors supply criminal-record certificates. A resident statutory auditor is required once capital reaches EUR 77,000 or revenue exceeds EUR 2 million. |
| Banking options | Capital is deposited through a San Marino bank (Banca di San Marino, CARISP, BAC), supervised by the Central Bank of San Marino. Account opening takes about 4 weeks (up to about 2 months) with full KYC and UBO checks. |
| Our formation service | from around €100 to €200 (estimated). You get a fixed quote in your free plan before you commit. |
San Marino is an independent microstate, the world's oldest republic, landlocked inside Italy, NOT an EU member, but it uses the euro under a monetary agreement and has a customs union with the EU (an EU Association Agreement is negotiated but not yet in force). There is no VAT; a single-stage import tax stands in for it. It courts founders with a high-tech start-up regime (0 to 8% tax) and an 8.5% rate for new businesses' first five years.
How to register a company in San Marino
Step by step, this is how a San Marino formation actually runs:
- Prepare the file with a local agent. Articles, business plan elements and KYC go through a San Marino professional; a power of attorney covers remote signing.
- Notarise the deed. The S.r.l. deed is executed before a notary with the EUR 25,500 capital arrangement in place.
- Register the company. Entry in the commercial registry follows, with the operating licence issued by the competent office.
- Deposit capital through a local bank. Banking runs under the Central Bank of San Marino's supervision; KYC is thorough but manageable remotely.
- Tax registration. The company registers for the 17% general regime, with reduced schemes for qualifying new businesses (the SUT high-tech regime among them).
We handle each step with licensed local counsel, so the paperwork, registered address and filings are done correctly the first time.
What company formation in San Marino costs
Professional-led formation commonly totals EUR 2,000 to 4,000 including notary and registry, and the annual licence tax adds several hundred euros. The EUR 25,500 capital is the largest day-one item. Accounting and administration typically run EUR 2,000 to 4,000 a year.
Form your San Marino company in days
Tell us where you live and what you are building. Our formation service starts from around €100 to €200 (estimated); we confirm the right structure for San Marino, give you a fixed quote, and form the company with licensed counsel.
Get your free planWho can form a company in San Marino
Founders from outside the EU can own and run a San Marino company, with the cross-border requirements handled for you. We flag any residency or local-agent rule for San Marino up front, so there are no surprises.
San Marino fits niche ventures using its incentives (notably the SUT regime for high-tech startups at 0% to 8%) and businesses with Italian-adjacent operations wanting a distinct legal home. The capital requirement and small banking system keep it specialist.
After registration: what San Marino expects each year
Annual financial statements are filed locally, the corporate tax return follows the 17% regime (or the reduced new-business rates while they last), and the operating licence renews with its fee. VAT-style import taxation differs from EU VAT, which matters for goods flows with Italy.
San Marino and the 28th Regime (EU Inc)
EU Inc, the proposed 28th Regime, would let you register one company valid across all 27 EU member states. It is not law yet (expected around 2027-2028), so a San Marino company is one of the ready options you can use today. Forming an EU company now also positions you to adopt EU Inc later, as we cover in how to prepare an EU Inc company. To weigh San Marino against other countries, see company formation in Europe.