San Marino, a small independent country located within Italy, is a favorable destination for entrepreneurs looking to establish their businesses. The country is known for its business-friendly environment, low tax rates, and simplified registration process. In this article, we will guide you on how to register a business in San Marino.
Table of Contents
Decide on the type of business entity:
The first step to starting a business in San Marino is to choose the type of business entity you want to register. The most common forms of business entities in San Marino are:
Sole proprietorship
Partnership
Limited liability company (S.r.l)
Joint stock company (S.p.A)
Choose a company name:
Once you have decided on the type of business entity, you need to choose a unique name for your company. The name should not be similar to any existing company registered in San Marino. You can check the availability of your desired name on the San Marino Chamber of Commerce website.
Prepare the necessary documents
To register your business in San Marino, you need to prepare the following documents:
A notarized copy of the passport or ID of all shareholders and directors
A notarized copy of the lease agreement for the registered office
A certificate of good conduct from the country of origin for all shareholders and directors
A declaration of intent to operate the business
A document outlining the business activity and business plan
Open a bank account:
Before registering your business, you need to open a bank account in San Marino. The bank will require the notarized documents mentioned above and a minimum deposit to open the account.
Register your business:
Once you have completed the above steps, you can proceed with registering your business with the San Marino Chamber of Commerce. You need to submit all the necessary documents, pay the registration fee, and obtain a VAT number.
Obtain a business license:
Depending on the nature of your business, you may need to obtain a business license from the relevant authority in San Marino. For example, if you are starting a restaurant, you need to obtain a license from the Ministry of Health.
Register for social security:
As an employer in San Marino, you need to register with the San Marino Social Security Institute (ISS) and pay social security contributions for your employees.
In conclusion, registering a business in San Marino is a relatively simple and straightforward process. However, it is recommended to seek professional legal advice to ensure compliance with the local laws and regulations. Generis Global, our firm, can assist you with the legal aspects of setting up your business in San Marino. Contact us for a consultation today.