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
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San Marino Trust |
Corporate Details |
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General |
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Trust |
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Yes |
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Yes |
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100 Years |
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Minimum of 2 |
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No |
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None |
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As per Trust Deed |
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Must be non-resident of San Marino |
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No property situated in San Marino can be part of the Trust asset |
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No |
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Trust asset |
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No, except property situated in San Marino |
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Trustee |
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1 if corporate and 2 or more if not corporate |
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Minimum one San Marino resident |
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Accounts |
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No |
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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.
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers