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Move to San Marino and become tax resident

San Marino is one of the smallest states in the world. It is located in Southern Europe and is surrounded on all sides by Italy. The country is not part of the European Union but has open borders with it. At the same time, it is part of the Eurozone.

 

Why you should get a residence permit in San Marino

It makes sense to obtain a residence permit or permanent residence in San Marino for the following reasons:

 

Freedom of movement within the countries of the European Union

Despite the fact that the country is not formally a member of this association, its residents have the right to move around the European Union without having a visa. This applies to accommodation and travel. As for work and business, other rules apply in this case.

 

Reducing the percentage of personal taxes

A residence permit in San Marino entitles you to become a tax resident of this country. This means that taxes only need to be paid on income earned in San Marino. However, this applies only to taxes for individuals.

The private pensions of atypical pensioners resident in San Marino are taxed at a rate of 6% on the gross pension.

As for corporate taxes, in San Marino, their level is quite high. In particular, it is 17%. But when opening a new enterprise or company in the country, the tax service gives a discount for a period of 5 years in the amount of 50%. That is, the tax rate will be 8.5%.

 

Available social programs

Citizens of San Marino, as well as foreigners who have the right to reside in the country, receive quality medical care. In addition, children have access to education in preferential terms, in particular, it is free. Students are also provided with benefits, however, their volume must be clarified separately in each EU country and university.

 

Residence permit in San Marino

Residence permit in San Marino

 

 

Types of residence permits

Residence permits are granted for long-term stays in the territory. The types of residence permits that may be applied for are the following:

 

1. REGISTERED RESIDENCE PERMITS

For foreign nationals seeking family reunification with a San Marino citizen, establishing a business in San Marino and holding management positions in institutes and companies of San Marino.

 

2. ELECTIVE RESIDENCE PERMITS

For foreign nationals wishing to establish their residence in San Marino, who make and maintain a property or financial investment, according to the rules set by law.

Foreign applicants must hold a health insurance policy, cannot work for the overall public sector nor benefit from State contributions.

After 10 years, elective residence change into registered residence permits, with all relevant rights.

 

residence in San Marino

Residence in San Marino

 

3. ATYPICAL RESIDENCE SUBJECT TO A FACILITATED TAX REGIME

It is envisaged for foreign citizens who intend to take up their abode in San Marino, who have never resided in the Republic for tax purposes or who have not yet obtained, at the date of entry into force of Law no. 223/2020, the final registered residence in the territory, and who generate income abroad.

Applicant foreigners must have a health insurance policy, are not eligible for employment in the Overall Public Sector and do not receive any form of contribution from the State. After 10 years, they are entitled to be granted registered residence and the related rights.

 

4. PENSIONERS’ ATYPICAL RESIDENCE

It is envisaged for foreign citizens who come from EU countries, Switzerland and countries established by a specific Congress of State Regulation, who intend to take up their abode in San Marino, who have never been resident in the Republic or have not yet obtained, at the date of entry into force of Law no. 223/2020, the final registered residence in the territory, and who generate income abroad according to the terms established by law.

Applicant foreigners must have a health insurance policy, are not eligible for employment in the Overall Public Sector and do not receive any form of contribution from the State. After 10 years they are entitled to be granted registered residence and the related rights.

The private pensions of atypical pensioners resident in San Marino are taxed at a rate of 6% on the gross pension.

 

Residence in San Marino

Residence in San Marino

 

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