San Marino is the third smallest country in Europe, after Vatican City and Monaco with a population of 33,000 and approximately 5000 foreign residents. It is also the fifth smallest country in the world. San Marino is an enclaved micro-state surrounded by Italy, situated on the Italian Peninsula on the northeastern side of the Apennine Mountains. The country’s economy mainly relies on finance, industry, services and tourism. It is among one of the wealthiest countries in the world in terms of GDP (per capita), with a figure comparable to the most developed European regions.

San Marino is considered to have a highly stable economy, with one of the lowest unemployment rates in Europe, no national debt and a budget surplus. It is the only country with more vehicles than people. San Marino is not a European Union member and euro is used widely in the country. San Marino also does not take part in Schengen area, but can only be visited crossing a schengen state. This small country does not have airport.

San Marino map

Tourism and banking are the country’s main source of revenue. The corporate profits tax rate in San Marino is 19%. Capital gains are subject to a five per cent tax; interest is subject to a 13% withholding tax.

San Marino offers economic residence by investment (RBI) scheme attractive to foreign investors. Elective residence permits are granted by local authorities for foreigners, wishing to establish their residence in San Marino, who make and maintain a property or financial investment.

Economic Residence

The Law 25 of 2019 grants simplified residence permits for economic reasons.

  • Buy a Property for €500,000
  • Government bonds €600,000 for 10 years or Excellency fund
  • Business or companies €100,000 creating 3 jobs.

The Economic Residence by investment scheme (elective residency) limited quota for 50 per year. It is possible for foreigners to become permanent resident after five years of living.

Tax Regime

A special facilitated tax regime is available for foreign citizens who intend to take up their abode in San Marino, who have never resided in the Republic for tax purposes.

San Marino Citizenship

Legislation on citizenship (in Italian)

Citizenship by residence is quite difficult and takes a lot of time.  Sammarinese citizenship possible for foreigners who legally reside in in the territory of San Marino for a minimum of 30 years for citizenship. Dual nationality is not allowed and one must renounce previous citizenship.

San Marino Passport

The San marino passport is a rare and exclusive passport in Europe. As of 2023, the Sammarinese passport ranks 16th powerful in the world with 172 visa free countries (US, Canada, UK, Ireland, Australia etc).

San Marino Passport