Elective Residence

San Marino's Elective Residence (Residenza Elettiva) is an investment-based residence permit that allows foreign nationals to establish permanent residence in the Republic by making a qualifying financial investment — either purchasing real estate or depositing funds in state-issued securities. The program is open to high-net-worth individuals of any nationality and offers a path to consolidated permanent residence after 10 years.

• One of the following qualifying investments, maintained throughout the residence period:
  • Purchase of a residential building or unit for personal/family use at a minimum price of €500,000
  • Purchase of an unfinished building at a minimum of €350,000 with completion/renovation costs not exceeding €150,000
  • Non-interest-bearing restricted deposit of at least €600,000 for 10 years in San Marino state securities or a state fund
• Private health insurance through a San Marino agency with minimum annual coverage of €30,000 per person
• Clean criminal record
• €1,000 application processing fee
• Additional €10,000 one-time fee for applicants choosing the government bond option

• Valid passport or travel document
• Criminal record certificate
• Proof of qualifying investment capacity
• Private health insurance policy (minimum €30,000 annual coverage per person)
• Proof of accommodation (property purchase serves as proof; bond investors need separate arrangements)

The elective residence is indefinite and does not require periodic renewal. After 10 years of continuous residence, it automatically converts to registered residence (residenza anagrafica) with full rights. Citizenship by naturalization is possible after 30 years of residence (20 years if married to a Sammarinese citizen), though San Marino does not recognize dual nationality.

Spouse, dependent unmarried children under 25, and disabled adult children may be included in the application. Each additional family member requires a €20,000 one-time fee. Family members are subject to the same restrictions as the main applicant — no public sector employment and no state benefits until consolidation after 10 years.

Elective residents are subject to San Marino's standard tax regime. The general income tax (IGR) applies to worldwide income for tax residents, with rates ranging from 9% to 35%. A 3% tax incentive applies on dividends. San Marino has no VAT — a 17% single-phase import tax applies to imported goods instead.

Applications are submitted to the Department of Foreign Affairs (Segreteria di Stato per gli Affari Esteri) with all required documentation and the €1,000 processing fee. The Congress of State reviews the application and decides within 60 days. Upon approval, the real estate purchase must be completed within three months — failure to do so results in automatic revocation of the residence. Real estate purchases by elective residents are exempt from the standard 8% registration tax and bypass the usual Council authorization required for foreign property purchases.

San Marino does not issue entry visas. As the country is landlocked within Italy, non-Schengen nationals must first obtain an appropriate Italian/Schengen visa. Upon arrival, holders register with the Gendarmerie's Foreigners Office.

Contact: [email protected] or [email protected], tel. +378 0549 882299.

• The annual cap on elective residences is set by delegated decree and may limit availability
• The non-interest-bearing bond deposit is locked for 10 years and earns no returns
• Property purchased must comply with energy efficiency regulations (Class A standard)
• San Marino is not an EU or Schengen member, so residence does not grant free movement within the EU, though its location within Italy provides practical access