How to obtain a residence permit in San Marino: a step-by-step guide

The author of the text is Vadim Orshak, managing partner of the family office Orishak Capital.

San Marino: a brief overview

San Marino is one of the smallest countries on the planet, covering just 61 square kilometers. It is also one of the oldest states in Europe, existing for centuries. San Marino is completely surrounded by Italy and is located near popular resorts such as Rimini and Riccione. The nearest international airport is in Rimini, just a 30-minute drive from San Marino. Russian citizens can also fly through Bologna, which has regular flights operated by Aeroflot.

Advantages of living in San Marino

Although San Marino is not part of the European Union and is not in the Schengen Area, there are agreements that allow foreigners with local residency permits to cross the borders of other European countries freely. It is important to note that the official currency used here iseuro.

How to obtain a residence permit

How can one obtain residency in San Marino? One of the most common ways is to open a business in the country. General directors of registered companies can apply for a residency visa based on their ownership of the business. The main requirement is to make a refundable security deposit of€150,000.

This amount can be paid in installments:

• The first half when obtaining a residence permit.
• The remaining part over the next two years.

These funds can also be directed towards investments in real estate, both residential and commercial.

Conditions for obtaining and benefits

A residence permit is issued indefinitely, provided that the business continues its operations and the deposit remains in the bank account. The resident card is issued for a period offive yearsafter which it can be extended. Holders of a residence permit enjoy the benefits of a tax resident, as they only pay taxes on income earned in San Marino, provided that they are outside of Russia for more than183 daysin the year.

Migration feature

An interesting feature of this small state is the absence of strict migration borders, which allows a resident of San Marino to be both within the country and in other European countries. The main requirement is that they have proof of crossing the Russian border and documents confirming their housing in San Marino, whether it is owned or rented property.

Requirements for applicants

The requirements for applicants are quite strict. The main conditions are financial independence of the investor and a clean criminal record. It is also necessary to provide a number of documents, including:

• A passport.
• Copies of the internal passport pages with stamps.
• Marriage certificate (if available).
• Confirmation of registered address.
• Certificate of no criminal record with a state seal.
• Two photographs measuring 3.5 × 4.5 cm.
• Filled out questionnaire.
• Certificate 2-NDFL on income exceeding€50,000.

Compliance with the specified requirements and the provision of necessary documents significantly increases the chances of obtaining a residence permit in this picturesque and historically rich country.

The process of obtaining a residence permit (RP) in San Marino for an investor requires the preparation of a specific set of documents. If the value of the investment asset or real estate exceeds 150,000 euros, this is considered an official basis for submitting an application. The documentation that needs to be provided must include the founding documents of a company registered in San Marino, as well as a bank statement confirming the existence of a financial deposit.

Additional conditions

In addition, a potential resident will need to confirm their place of residence in San Marino. This could be, for example, a rental agreement or a document proving ownership. Another important requirement is having health insurance that provides coverage of at least 30,000 euros. All documents in Russian must be notarized and apostilled, but translation into Italian is not required.

Procedure for obtaining a residence permit

It is worth paying attention to the procedure for obtaining a residence permit through real estate acquisition, which is in high demand among investors. In the first stage, the applicant must gather a complete set of necessary documents and submit them either in person or send them by mail in advance. This process involves signing a contract for legal services, with a 50% prepayment of the total service cost.

Stages of registration

• The next step involves checking the applicant's reliability, which will cost 1,500 euros.
• Then an agreement is signed with the lawyer.
• At the second stage, it is necessary to visit San Marino to open a personal bank account.
• During the visit, a list of the company's founders is established, and a notarized deed of its creation in the country is prepared.

After opening the account, the applicant is required to make two mandatory contributions: the first is 26,000 euros for the authorized capital, and the second is 150,000 euros to cover the expenses of establishing the company and as a security deposit. There is an option to pay this amount in two installments of 75,000 euros each, with the first part paid immediately and the second within two years. During this visit, it is also necessary to provide copies of internal passports with stamps, as well as to fill out forms for applying for a residence permit.

Company registration

The next step involves registering the company, during which it will be assigned a legal address that matches the auditor's place of work. This process usually takes about two weeks.

Immigration to San Marino: key points you should consider

If you are planning to immigrate, it is important to familiarize yourself with the various services offered by San Marino. The process of obtaining a residence permit (RP) involves several significant aspects. For example, for non-EU residents, opening a personal or corporate account in state financial institutions costs around 1,500 euros.

It is also important to consider the identity verification fee, which applies to both the applicant and all adult family members — this service is also estimated to cost around 1,500 euros.

Company registration in San Marino

If you are planning to register a company in San Marino, you will need to spend an initial amount of 10,000 euros. Annual expenses for auditor services start at 4,000 euros. Additionally, you will need to pay around 3,000 euros annually for the legal address provided at the auditor's location. Renting accommodation will cost at least 6,000 euros per year, not including utilities. Comprehensive legal support for the residence permit process can range from 50,000 to 100,000 euros, depending on the specifics of the case and the number of family members.

Advantages of residence permit in San Marino

Obtaining residency in San Marino opens up many advantages for you, including:

• Favorable geographical location
• Favorable climate
• Foreigners with a residence permit can freely move around European countries and stay in them for an extended period.
• The level of security in this country is high.

It is worth noting that residence permit holders have the opportunity to establish reliable trusts in San Marino. Medical services here are of high quality and are available to residence permit holders completely free of charge. Additionally, it should be emphasized that San Marino does not support the sanctions imposed by the European Union against the Russian Federation.

Rules for obtaining a residence permit for a family

Another important advantage is the possibility of obtaining a residence permit for the investor's spouse; this rule also applies to individuals in a civil partnership. The residence permit will also extend to children under the age of 25 without any particular difficulties. San Marino offers its citizens a multitude of privileges in other EU countries, including access to educational services on favorable terms.

Tax conditions

An important aspect is also favorable taxation.

• If a foreigner resides outside the Russian Federation for more than 183 days a year, they are granted a number of benefits of a tax resident.
• There is no tax on income from foreign activities in the country.
• The corporate tax ranges from 8.5% to 17%, while the dividend tax is only 5%.

An additional advantage is that there is no need to hire extra staff to obtain a residence permit. The education system in San Marino deserves special praise: it offers one of the best preschool and school educations in the European Union, which remains free for residence permit holders. There is also the possibility to exchange Russian driver's licenses for an international driving permit.

Investment attractiveness of real estate

The investment appeal of local real estate makes this market very attractive for foreign citizens. The process of document processing takes place directly in the country, which eliminates the need to contact the consulate in Moscow. The time frame for obtaining a residence permit is quite fast, taking only two to three months.

Conclusion

Thus, registering a business in San Marino not only allows you to obtain a residence permit but also opens the doors to a prestigious jurisdiction for international business with an attractive tax system and reasonable labor costs.

Conclusion

In conclusion, I would like to emphasize that the process of obtaining a residence permit in San Marino is not just a legal procedure, but also a strategic step for those considering opportunities for living and doing business in one of the most unique corners of Europe. San Marino, with its remarkable history, picturesque landscapes, and favorable tax climate, is becoming increasingly attractive to investors.

However, it is important to understand that this process requires a thoughtful approach and careful preparation. Collecting the necessary documents and adhering to all legal nuances may seem challenging, but they play a key role in successfully obtaining a residence permit.Financial independence,absence of convictionsAnd strict adherence to all conditions is your key to a new life in this unique country.

Recommendations

As the managing partner of a family office, I strongly recommend that anyone interested thoroughly research the information and, if necessary, seek professional assistance. Regardless of whether you want to:

• expand your business horizons;
• just enjoy life in Europe;

San Marino offers opportunities that are hard to ignore.

Unique advantages

Ultimately, San Marino not only opens doors to new beginnings but also offers a unique culture and atmosphere that leave unforgettable impressions. The journey to obtaining residency in San Marino is more than just acquiring a document; it is a step towards a new life full of opportunities and prospects.

I wish everyone good luck on this journey and hope that your pursuit of new horizons leads to successful outcomes!