Minimize your Maritime Corporate Taxes with the San Marino Maritime Company
Are you in the maritime industry and on the hunt for an optimized tax structure in a reputable European and OECD White Listed jurisdiction? Look no further. Whether you are a charter company, shipyard, broker, supplier, manufacturer, shipping company, or involved in any type of maritime business, San Marino provides a unique proposition for your business. As the world’s oldest republic, San Marino offers financial stability, a robust legal framework, and exceptional tax advantages.
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Exceptional Tax Advantages
A San Marino Maritime Company (SRL) offers a range of unparalleled tax benefits tailored for the maritime industry. Here’s what you can expect:
- Reduced Profit Tax:
Benefit from a low 3.4% tax rate on your annual profits for the first 10 years of operation. - Dividend Taxation:
A nominal 5% tax on dividends to individuals and non-residents. - No VAT:
Benefit from the absence of VAT as San Marino is not a part of the EU. Ideal for tax-free investing in yachts and other investments important to your business. - Tax Deferral:
Defer the already discounted profit tax for up to three years. An excellent boost for startups in the initial, low-profit stages. - License Fee Exemptions:
Take advantage of zero license fees for the first four years of operation. - Investment Incentives:
Enjoy tax reductions on income generated from capital goods or real estate investments. - Deductible Expenses:
Write-off company costs with minimal limitations. - Reputable Jurisdiction:
San Marino is a highly respected European country with an impeccable reputation. - OECD Approval:
The country’s white-listed status by the OECD underscores its commitment to international best practices.
Seamless Company Formation
We collaborate with esteemed specialized notaries and accountants in San Marino to offer a hassle-free and fast company formation process.
Formation Highlights
- Global Flexibility: Shareholders can be individuals or entities from any nationality or jurisdiction.
- Local Director Not Required: Run your company without the need for a local resident director.
- Limited Liability: Only the company’s assets are liable for its debts.
- Accessible Funds: A minimum share capital of €25,500 is required, which becomes immediately available for your business operations.
- Low Corporate Tax: An annual corporate tax of just €350.
Operational Necessities
- Human Resources: Employ at least one individual (director), and a second employee within 24 months.
- Remote Operation: Conveniently form your company and open your mandatory San Marino corporate bank account remotely.
Cost Structure
Initial All-Inclusive Setup Fee: €7,950 (VAT-free). This covers:
- Notary fees
- Accountant setup costs
- Business license and tax numbers
- Administrative tax
- Tax identification
- Accounting book endorsements
- San Marino taxes and fees
- Our handling and administration costs
Annual Company Maintenance Fee: €3,500, covering:
- Notary costs
- Business license tax
- Notarized shareholders meeting for financial statement approval
- San Marino taxes and fees
- Our handling and administration costs
Note: All setup and annual costs are fully deductible.
Additional Services
Professional Support: Our partnerships with specialized administration and accounting firms ensure you maximize your benefits. Initial consultancy and establishment fees are included in the initial setup cost.
Office Requirement: A San Marino office address is mandatory and available at a monthly cost of around €300. We can assist in setting this up smoothly for you for a low one time fee of only €500.00
Remote Company Opening: Should you wish to establish your new San Marino Maritime Company remotely and forego visiting San Marino, a notary can create a Power of Attorney for you and organize a delegate. There is an additional charge of €1500.00 for this service.
San Marino Business Bank Introduction: A business bank in San Marino is mandatory. Allow us to connect you to one of the principal business banks in San Marino for remote business bank account opening. The service fee for this introduction is €500. Take the next step in securing superior banking for your business needs!
Get Started
Whether you aim to use the San Marino Maritime Company as an owning entity for your San Marino-registered yacht, or for any other maritime venture—including yachts flagged in other jurisdictions—we tailor our services to meet your specific needs. Rest assured, we are fully equipped to accommodate yachts registered under any flag, ensuring seamless operational and fiscal integration.
Contact us today to commence your journey towards unparalleled fiscal efficiency and business growth.
Frequently asked questions about the San Marino Maritime Company
What extra services does BlueWater Registration Services offer?
BlueWater Registration Services handles:
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Company setup for non-EU owners
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Certified translations and legalizations
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MMSI applications
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Document checks to avoid delays
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Delivery of official certificates worldwide
This saves time and ensures a smooth, compliant registration.
Is San Marino a country with a good reputation?
Yes, San Marino is a country which is OECD White Listed which means that it has a top reputation. (https://oecd.org)
What is the highly reduced Profit Tax rate for a San marino maritime Company?
The highly reduced profit tax rate for a San Marino Maritime Company is only 3.4% of your company’s profit. This for the first 10 years of the company. This can be postponed for max. 3 years in the low profit phase of a startup company.
Can the 10 years period of highly reduced profit tax rate be postponed in the low profit phase of a startup company?
Yes, this can be postponed for max. 3 years
What is the Dividend Tax in San marino?
The dividend tax in San Marino is as low as only 5%
What are the fees for the San Marino accountant?
In the case you would like to receive the formal offer of the recommended San Marino accountant we work with just send us an offer request by email. You will receive the offer within max. 2 working days.
Is San Marino a reputable European country for my Maritime Company?
Yes!
As the world’s oldest republic, San Marino offers financial and political stability, a robust legal framework, and exceptional tax advantages.
San Marino is a highly respected European jurisdiction for establishing your business.
What is the normal Company Profit Tax in San Marino?
The normal Company Profit Tax in San Marino is 17% of your companies profit. But for the first 10 (or max. 13 years if postponed) you pay only a low profit tax of 3.4%
Does San Marino has VAT?
No!
San Marino has no VAT for your San Marino Maritime Company when doing business outside San Marino. Ideal for purchasing yachts and other maritime investments.
Can a San Marino Maritime Company have a natural person as a shareholder or a company as a shareholder?
Yes!
Both shareholder types are possible. This can be of any nationality or jurisdiction in the world. (For Russian shareholders limitation apply based on restrictions).
Will a Due Diligence be a part of the San Marino Maritime Company creation procedure?
A Due Diligence of the shareholder, director and beneficial owner will be a part of the San Marino Maritime Company creation procedure. This is included in the price.
Why do i need to provide a Criminal Record (or ofcourse the absence of it) certificate?
San Marino has an excellent reputation among authorities worldwide. To safeguard this reputation, an extract of your criminal record (or the absence thereof) for San Marino is important. You can request this declaration from the authorities in your own country. This is a standard document that they will produce for you.
What is the minimum required company stock for a San Marino Maritime Company?
25.500,- euro is the minimum company stock for a San Marino Maritime Company.
You are required to pay this into the account of your own company bank account in San Marino. After deposit and verification by the notary, you can immediately use these credits for your business payments and investments.
Is the company stock of 25,500 euros deposited into your San Marino company bank account immediately withdrawable?
Yes, you can immediately use this amount for your business payments and investments after verification by the notary.
Am I personally liable for any losses incurred by my San Marino Maritime Company?
No, only the assets of your San Marino Maritime company can be used in the event of loss or bankruptcy. You cannot be held personally liable. (This with the exception of any culpable or criminal conduct, just like in all other jurisdictions.)
Can I also use the San Marino Maritime Company to acquire real estate and capital investments?
Yes, no problem at all!
Is having a local (virtual) office address in San Marino mandatory?
Yes. Having a local (virtual) office address in San Marino is mandatory (just like in any other jurisdictions). We can arrange this for you for 300 euros per month. This includes the use of a shared office. Any additional services such as post forwarding and secretarial services can be agreed additionally.
Do the documents I need to provide for creating a San Marino Maritime Company have to be provided in English?
Yes, documents that are not standard in English must be translated into English or Italian by a qualified translator.
Within what period must the share capital be deposited into the San Marino company bank account?
The share capital must be paid into the San Marino company bank account within 120 days after the creation of the San Marino Maritime Company.
How high is the corporate tax in San Marino?
The corporate tax is only 350 euros per year in San Marino
Is a San Marino Maritime Company required to have employees?
Yes, within 6 months the San Marino Maritime Company must have at least 1 employee. This is usually the director. A second employee must be appointed within 24 months. This can be any type of employee with any desired salary.
What is the income tax in San Marino for employees (natural persons)?
The income tax for employees (natural persons) in San Marino is progressive (from 9% till 35%) depending of the hight of the salary. Your San Marino accountant can inform you in detail about it on request.
Can San Marino Maritime Company costs and investments be deducted in San Marino?
Yes, almost all business investments and costs can be deducted for tax in San Marino
Can the purchase of a yacht or other business investments be made VAT free in San Marino?
Yes, the purchase of a yacht or other business investments can be made VAT free by the San Marino Maritime Company
Can the opening of a corporate bank account in San Marino be done remotely?
Yes, several banks in San Marino support the remote opening of a corporate or personal bank account. We can provide an introduction to this for you.