Following its only neighbour, Italy, San Marino launched 2 RBIs in 2017 to complement the already available residency for economic reasons with simplified procedure of 2013. San Marino is a tiny state in Europe which is not part of the EU, but does share many agreements with the Union. San Marino is landlocked in Italy, forcing international travellers to land in Italy in order to enter San Marino. Residents of San Marino can receive a Schengen visa from Italy in consequence in order to travel in and out. These permits provide a 10-year residence permit and you can add your spouse and children up to 25 years old in the application.
Elective Residence is based on your ability to sustain yourself financially in the territory without having to work. The application process takes less than 60 days. To qualify you will need to carry out and maintain in your own name, one or both of the following types of investment in the territory:
iii. demolition costs with reconstruction of the real estate unit.
Those that want to start a business in San Marino without having to qualify as a High Tech Startup can do so by applying for Residence for Economic Reason. To qualify you need to be a majority shareholder of the company and hire from 1 to 3 residents. You will also need to make a secured bank deposit of €75,000, to be increased to €150,000 within two years of obtaining the residency (replaceable with purchase of property with a lien in favour of the state). This bank deposit may be replaced by a bank or insurance guarantee issued by a San Marino supervised entity.
Very similar to the previous scheme, this one was introduced in 2017 for those that want to make higher investment into San Marino. You will need to create 5 full-time jobs and purchase a property already existing at the time of completion of the transaction for a minimum value of €300,000, or bank or insurance guarantee issued by a San Marino supervised entity.