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 get a residence permit in San Marino

The local government gives advantages to its citizens and foreigners with residence permits in many social and economic matters. Therefore, 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. In addition, different countries have their own instructions on this matter for their citizens, so this issue needs to be clarified further. 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 by investment in San Marino

The country's government is making efforts to attract additional investments to the economy. Therefore, the right to a residence permit can simply be bought. However, not everyone can do this, and there are a number of rules that must be observed in this case. Among the main requirements:

• The applicant must be a healthy capable foreigner.

• Have no problems with the legislation of the country of which he is a citizen.

• Not on the Interpol wanted list.

• Have a residence permit in San Marino.

With regard to the last point, the local property must be owned by the applicant or rented by him for a long time. At the same time, local law enforcement agencies carefully check the applicant for integrity. This procedure takes about 2-3 months.

There are two options for obtaining a residence permit in San Marino. The first is a permanent residence. To do this, the applicant must prove to the authorities that he intends to live here on a permanent basis. He must have his own real estate valued at 500 thousand euros or more, or open a local bank account with a minimum amount of 600 thousand euros. This gives the right to obtain a residence permit for a period of 1 year with the right to a subsequent extension.

The second option for obtaining a residence permit is to register a business in the country. The minimum authorized capital of the company must be 26 thousand euros, and the security deposit — at least 150 thousand euros. At the same time, the company may not engage in entrepreneurial activities and may not even hire employees. However, in the case of hiring workers, the legislation provides tax credits.

The procedure for obtaining a residence permit in San Marino

Registration of a residence permit can be performed both at the Italian Embassy and directly on the territory of San Marino. You need to contact the immigration service of the state. It takes 2 to 3 months from the moment of application to the decision. The term of the visa is from 1 to 5 years. In this case, the visa can be extended an unlimited number of times. A visa is also issued to family members — spouses and children under 25 years old. Please note that the laws of San Marino allow you not to register a marriage officially, so a stamp on your passport is optional.

If you still have questions about obtaining a residence permit in San Marino, you can always seek help from professional legal advice. The staff will do all the work for you.