Following the approval of Law n. 71 of 2013, the requests for and the openings of e-commerce businesses have boomed, as (like the public trading licenses) shareholders are no longer required to be San Marino residents. [Here the details of the Law]
However, the most recurring question from our clients is:
Does PayPal work in San Marino?
Until recently, the only way to withdraw the money collected through PayPal was to deposit the funds on a credit card: simple though only limited to a few hundred Euro per transaction. However, finally, after two years following the approval of the Law on E-commerce, PayPal opens up the possibility to register and use the service with a San Marino bank account. The answer, therefore, is yes!
An important milestone for all those businesses that operate online with e-commerce platforms of both tangible and intangible assets.
The procedure to set up a PayPal Business account based in San Marino has been simplified, however you still need to know the exact steps to follow in order to properly manage your account settings and to remove the account limitations during your first direct withdrawal. Startup.sm provide support to our direct customers also during these stages in order to start using your account in a very short time.
Moreover, on August 26, the Department of Industry, Craftsmanship and Commerce of San Marino Republic, with the Delegated Decree n. 122, has introduced the certification of the e-commerce enterprises in San Marino with the obligation to display the logo “E-commerce San Marino” linked to their online license. To have a license issued by the State is something really unique, which builds trust both in the final buyer and in the new e-commerce entrepreneurs for whom San Marino will become an increasingly popular option to start up an online business.
Particularly worthy of notice are the advantages of our WordPress/Woocommerce plugin designed to streamline and accelerate-improve operations of SMaC certifications of money collected from private clients.
With our WordPress plugin, the sales data can be recapped and exported in seconds in order to be forwarded to the Public Administration.
This new symbiosis between PayPal and the San Marino E-commerce makes San Marino one of the most popular country in the world to start up an e-commerce business in terms of taxation, effectiveness and automation.
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