San Marino · Residency by investment
Residenza Elettiva (elective residence)
The route is open, capped at 50 grants a year. This is San Marino's genuine residence-by-investment option, requiring either a property purchase or a long-locked state-bond deposit.
The EUR 600,000 deposit route looks straightforward but is quietly punitive. It pays no interest and stays locked for ten years, so the real cost is the return you give up, roughly EUR 300,000 of compound yield at 4%. That makes it far more expensive than the headline figure suggests. The EUR 500,000 property route is usually the better economic choice, since you keep an asset at the end of it.
Qualifying routes
The minimum is EUR 500,000. A property that still needs renovation can qualify, as long as the purchase price plus the cost of the work add up to that figure. Renovation costs count toward the total, up to EUR 150,000.
The minimum is EUR 600,000, placed in San Marino state securities or a designated fund. The money is locked up for 10 years and earns no interest. This route also carries a one-off tax of EUR 10,000.
The facts
- Minimum investment
- €500k
- Total landed cost
- Expect EUR 500,000 for a property, or EUR 600,000 locked away for a decade earning nothing. On top of that there is a EUR 1,000 first-request fee, a EUR 10,000 one-off tax on the deposit route, and a EUR 20,000 one-off charge for each accompanying family member, whether a spouse, a cohabitant, a child under 25, or a disabled child.
- Route type
- Residency by investment
- Timeline
- 4–12 months (This is subject to the annual cap of 50. The figures were verified using secondary Sammarinese sources, since the official agency.sm page could not be reached.)
- Physical presence
- Genuine residence is expected. Residence consolidates over 10 years.
- Family
- A spouse or cohabiting partner, at a one-off cost of EUR 20,000 eachCohabiting children under 25, or disabled children, at a one-off cost of EUR 20,000 each
- Permanent residency
- Residence consolidates after 10 years.
- Citizenship
- 30 years of residence.
- Language test
- Italian is required for naturalisation.
- Dual citizenship
- Not permitted. You would have to renounce.
- Requirements
- A property purchase of at least EUR 500,000, or a EUR 600,000 non-interest-bearing 10-year deposit in state securities.EUR 1,000 first-request fee.EUR 10,000 one-off tax on the deposit route. EUR 20,000 one-off per family member.A clean criminal record.Proof of lawful origin of funds.Health insurance.
- The deposit pays no interest and stays locked for 10 years. Model the opportunity cost, not just the headline figure.
- Only 50 elective residences are granted per year.
- Family members cost EUR 20,000 each as a one-off fee. This is unusual and often left out of cost comparisons.
- Elective residents cannot take public sector jobs during the 10-year consolidation period.
- There are no EU or Schengen rights here. Citizenship is 30 years away, and it requires giving up your other nationalities.
- Official primary sources were unreachable during this research, since agency.sm refused connections. Confirm every figure with the Ufficio Informazione or a Sammarinese professional before committing.