Registration of real estate to non-resident natural and legal persons

The methods, requirements and conditions are regulated in order to allow natural persons of foreign citizenship and legal persons under Sammarinese law to purchase, under any title, buildings or portions thereof, located in the Republic of San Marino, and to stipulate real estate financial leasing contracts, without the prior authorization of the Council of XII in application of Article 51 of Law 24 December 2018 n.173.

The following shall apply:

a. ”foreign citizenship”: any citizenship other than Sammarinese;
b. ”buildings or portions thereof”: buildings identified in the land registry and urban planning, the size of which never exceeds the number of real estate units with a main function, pursuant to Article 84 of Law 14 December 2017 n.140 and subsequent amendments, including the related accessory rooms with a secondary function and any external facilities.

Methods

The purchase by the subjects referred to in Article 22 may take place by inter vivos deed and does not require the authorization of the Council of XII.

The purchase by the subjects referred to in Article 22 can also occur mortis causa and does not require the authorization of the Council of XII.

Transfers to trusts under Sammarinese law, by deeds of the settlor, are not subject to the prior authorization of the Council of the Twelve nor to the limits and conditions set forth in the following articles 24 and 25, even if the trustee is a legal person under Sammarinese law or a foreign natural person.

Requirements

The notary who draws up the deed of purchase of buildings in favor of a foreign citizen must attach the General Criminal Record or an equivalent certificate of the purchaser, from which it is clear that there are no convictions, in the Republic of San Marino or abroad, with a criminal sentence passed in sentenced to restrictive personal freedom for a period equal to or greater than two years, for a non-culpable crime committed in the last fifteen years; or has been convicted, in the Republic of San Marino or abroad, of criminal association of a criminal nature or financing of terrorism.

A suitable technical certification is also attached to the deed of purchase regarding the fact that the buildings are not included in the list referred to in Law 28 October 2005 n.147.

Conditions

For natural persons of foreign citizenship, the inter vivos purchase is permitted for a maximum of n.2 real estate units with a primary function, pursuant to paragraph 1 letter b) of article 84 of Law 14 December 2017 n.140, and subsequent amendments including the related accessory rooms with a secondary function and any external comfort. The purchase referred to in this paragraph of assets subject to a financial leasing contract is not permitted. The purchase and registration of buildings or portions thereof that exceed the number permitted by this Chapter II requires prior authorization from the Council of XII.

For legal persons under Sammarinese law, the purchase inter vivos, even deriving from a real estate financial leasing contract, is permitted for a maximum of n. 10 real estate units with a primary function, pursuant to paragraph 1 letter b) of article 84 of Law 14 December 2017 n.140, and subsequent amendments including the related accessory rooms with a secondary function and any external facilities.

The purchase and registration of buildings or portions of them that exceed the number permitted by this Chapter II requires prior authorization from the Council of XII.

The purchaser does not have access to the contribution referred to in Law 31 March 2015 n.44 and is required to pay, without application of benefits for the purchase, the ordinary registration tax in force in addition to the payment of a tax fee equal to €1,000.00. This Chapter II does not apply to the purchase, for any reason whatsoever, of buildings or portions thereof which are included in the list ofreferred to in Law 28 October 2005 n.147.

This Chapter II does not apply to the purchase, for any reason, of buildings or portions thereof by companies that carry out real estate activities.