San Marino is a civil law country, probably one of the purest remaining: no civil code has ever been enacted and ius commune is still at the basis of its legal system. Ius commune is the common law that prevailed throughout Europe before the codes. In San Marino’s law, save when a specific matter is governed by statute, ius commune applies. It was on this historical foundation that San Marino built its statute of March 1 2010, No 42 on trusts (the “Trust Law”). The Trust law is a completely new law, totally revising the trust law previously in force (March 17 2005, no. 37), enacted after the ratification of the Hague Convention on the Law Applicable to Trusts and on their Recognition of July 1 1985 (the “Hague Trust Convention”)

San Marino Trust Legal Requirements

San Marino Trust

Corporate Details

General

  • Type of entity

Trust

  • Change of Domicile permitted

Yes

  • Registered Office

Yes

  • Duration

100 Years

  • Corporate Officers

Minimum of 2

  • Restriction on Investment of Trust asset

No

  • Exchange control

None

  • Succession

As per Trust Deed

  • Settlor

Must be non-resident of San Marino

  • Property

No property situated in San Marino can be part of the Trust asset

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated in San Marino

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

Minimum one San Marino resident

Accounts

  • Requirement to file

No

  • Publicly accessible

No

 San Marino Trust Tax Treatments

San Marino Trust is not subject to tax on foreign sourced income.

San Marino Trust Duration for Set up

Around 4 Weeks

San Marino Trust Distinctive Benefits

  • San Marino Trust is not subject to tax on foreign sourced income.
  • Has a duration of 100 years with an option of renewal.
  • San Marino has no exchange controls restrictions. 

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