San Marino Ship Registration
San Marino's adherence to international standards enhances the credibility of vessels registered under its flag.
Registering a ship under the San Marino flag provides benefits such as: (a) competitive registration fees and tonnage taxes, (b) a flexible regulatory framework, and (c) no restrictions on ship ownership or crew nationality. San Marino is currently not listed on the Paris or Tokyo MoUs, which might affect its recognition and compliance standards.
Facts & Info about: San Marino Ship Registration
- Ownership:Ships can be owned by individuals or companies of any nationality.
- Company Formation: The owning company can be registered in San Marino or elsewhere.
- Directorship: No specific residency requirements for directors.
- Resident Agent: Not required.
- Office Address: The company must have a registered office, which can be a representative office in San Marino.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections as mandated by the San Marino Maritime Administration.
- Financial Statements: Not explicitly required.
- Tonnage Tax System:San Marino has a tonnage tax regime.
- Income Exemptions: : Income from the operation of San Marino-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: No capital gains tax on the sale or transfer of a San Marino-registered vessel or the shares of a shipping company.
- Registration Process: The registration process is typically swift, taking a few days.
- San Marino Maritime Law: Governs the registration, sales, and mortgages of ships.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.
- Flag State Control: San Marino maintains high standards of safety, security, and environmental protection.
- Reputation: San Marino is not on the Paris and Tokyo MoUs.
- Support Services: Comprehensive maritime services including ship management and legal support.
- Strategic Location: Attractive due to its favorable regulatory environment.