Maksym Stepanenko
Managing Partner, Crystal Tax
International client projects since 2012: company structures, tax, immigration, DUNS and NCAGE. 50+ jurisdictions.
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Offshore company registration in San Marino
San Marino – a mini-state with the capital of the same name is an enclave of Italy, that is, a state that is surrounded on all sides by another country. The right of jurisdiction is based on Italian legal regulations. Both countries have close economic ties.
Key sectors of the economy of San Marino – industry, trade, tourism, finance, agriculture, insurance. Monetary unit – Euro. In 2015, the country signed an agreement with the EU services on the exchange of tax information. Jurisdiction is not considered a classic offshore, it is not on the Ukrainian "black list" either.
San Marino offshore business advantages
- A country with a stable economy.
- The ability to remain anonymous for foreigners.
- A grant system works for promising businesses.
- You don't have to pay VAT.
- There are no legal requirements for a secretary, you can use a nominee service.
Organizational and legal forms of offshore companies
- Joint stock company. There are two varieties of this type of company – S.P. and S.P.A.
- International business company
Both types of companies can have a minimum of one director and one shareholder. There are no residency requirements. Minimum authorized capital for S.P. is €256 thousand, for S.P.A. – €77 thousand. Half of the amount is paid within two months from the date of registration, the rest – for 1.5 years. If there is only one participant in the JSC, the entire authorized capital is paid within 60 days.
The capital for an international company is set at €256k. This amount must be deposited into a bank account within 60 days of incorporation.
Taxes and reporting
Income tax for legal entities in San Marino is 17%, with a simplified scheme –6.5%. Offshore companies are exempt from this tax. There are no strict requirements for accounting reporting and annual submission in the country. The need to submit a report and an audit is determined by the owner.
Opening a company in San Marino involves several stages:
- Checking the name for uniqueness and compliance.
- Selecting a legal address.
- Development of articles of association and memorandum of association.
- Paying the government fee.
- Submission of documents to the registration office.
By contacting Crystal Tax, you can order both the registration of a company in San Marino and its annual maintenance. If you have questions about how to open or buy an offshore – ask our specialists.
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Our advantages
Corporate structuring, company registration in Ukraine and abroad, tax and reporting, migration, bank accounts, DUNS and NCAGE codes. We run the whole project, from choosing the solution to the finished documents.
Confidentiality terms are set out in our contract. We do not pass information about a client or their project to third parties, except where the law expressly requires it.
We compare jurisdictions against your business task: tax regime, reporting, substance requirements and access to banking. On the call we go through the upsides and the limits of each option.
We name the timeline for every step before the work starts — it depends on the jurisdiction, the registrar and the bank. Personal data is used only to deliver the service.
We handle the correspondence with registrars, government bodies and banks and answer their requests ourselves. From you we need documents and signatures.
We take each case to the finish: if an authority or registrar comes back with remarks, we revise the documents at no extra charge. The fee is calculated for your task before work starts.