Among European tax havens there is also San Marino, an enclave in Italy. It enables enterprises, thus allowing a great optimization of the tax burden, mainly for start-up companies that invest in this small European territory.
The small Republic, independent since more than seven centuries, has realized some norms in favor of international entrepreneurial activity, mainly due to the use of local companies that guarantee low taxation and privacy, thanks to anonymous companies. San Marino has adopted Euro as official currency and, for the cooperation in tax matters- with the signature of new conventions against double taxation to enable data exchange, the Republic is an interesting alternative to many other competitive jurisdictions.
San Marino allows a fluid commercial activity, with no bureaucratic obstacles. Consequently, the filling of forms in support of invoices received from suppliers who have their location inside the small country is much quicker.
The fiscal and tax update have enabled start-up companies in the territory by reducing the bureaucratic hubs in the economic relations with other countries, thus storing once and for all tax shield era, with any eventual problem, mainly for the abuses in connection to activities aimed at tax evasion.