The Delegated Decree no.101/2019 has ratified several previous decrees, introducing some meaningful fiscal incentives and possibilities for the high-tech startup companies, ranging from tax reductions on business profits to a more streamlined procedure for those economic operators who want to apply for a residence or domicile permit, thus making San Marino one of the world’s most attractive Countries to start a Business in order to promote the technological innovation inside and outside the territory of the Republic.
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Innovation Decree: advantages and innovations
Among the various innovations envisaged by the Decree, it is worth emphasizing the most significant:
- Tax benefits
- Tax advantage for 12 years and reduced share/registered capital.
- Tax incentives for investments realized by legal and physical persons.
- Waiver of capital gains arising from the disposal of investments.
- Residence, Residence Permits and Labor Laws
- Residence for administrators and family members and residence permits for all employees.
- Liberalization of CoCoPro (project contracts) and occasional and accessory work.
- Ability to remunerate collaborators and employees with instruments of participation in the share capital.
- Possibility of creating technological research specialized consortia.
- Possibility for foreign companies to create spin-offs in San Marino.
- Possibility of establishing incubators, accelerators and certified scientific and technological parks.
- Possibility of acquiring the status of “Certified Partner”.
- Other advantages
- Possibility to use “Certified by San Marino Innovation” logo.
- Possibility to participate in any other initiative organized by San Marino Innovation.
- Possibility of being involved in institutional initiatives related to its operational area and promoted by the Institute.
- Possibility to participate in multi-sectorial technological aggregation initiatives promoted by San Marino Innovation, with the aim of developing cooperation between business systems and technological competence centers.
- Possibility of being involved in dedicated working groups for the preparation of Institute’s regulatory proposals.