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San Marino Tightens Atypical Residency Rules for Pensioners · IMI Podcasts

• 0:00
  SPEAKER_00: San Marino has introduced new financial requirements for its atypical residency program for foreign pensioners.
• 0:06
  SPEAKER_00: Effective April 28, 2025.
• 0:10
  SPEAKER_00: The updated rules significantly reshape the criteria by requiring not only a high income but also the long-term placement of assets within the country's banking system.
• 0:20
  SPEAKER_00: Applicants must now meet two conditions: a demonstrable annual gross income of at least€120,000, and a portfolio of movable financial assets, defined as liquid funds or investment securities, worth at least€300,000 held in a San Marino bank for the entire duration of their residency.
• 0:41
  SPEAKER_00: This marks a shift from previous rules that permitted foreign-held assets.
• 0:46
  SPEAKER_00: Under the new regulation, applicants must transfer and retain their wealth locally, creating a direct financial tie to the country.
• 0:55
  SPEAKER_00: While the€120,000 threshold had already replaced the previous 50,000 euro minimum in late 2024, the asset custody requirement is entirely new.
• 1:06
  SPEAKER_00: Professional interpretations confirm that income may include a range of sources beyond pensions, such as rental income, dividends, and financial returns.
• 1:17
  SPEAKER_00: Only movable assets qualify under the€300,000 requirement.
• 1:22
  SPEAKER_00: Real estate, trusts, or other non-liquid holdings, do not meet the criteria unless converted into deposit accounts or marketable securities held within the republic.
• 1:32
  SPEAKER_00: Applicants will likely need to verify continued compliance, although the law does not outline a specific enforcement process.
• 1:39
  SPEAKER_00: These rules apply exclusively to private sector pensioners.
• 1:44
  SPEAKER_00: Public sector retirees, including those from Italy's INPDAP system, remain excluded from the preferential 6% tax rate.
• 1:52
  SPEAKER_00: That rate applies for 10 years and may be extended through permanent residency.
• 1:57
  SPEAKER_00: A parallel rule also remains in effect regarding rental contracts.
• 2:01
  SPEAKER_00: Applicants must hold exclusive preliminary lease agreements, which are contingent on final residency approval.
• 2:08
  SPEAKER_00: This episode first appeared as an article by Valentino Coletto on IMIDaily.com.
• 2:15
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• 2:22
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