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 LAW IN SUPPORT OF NEW YOUNG AND FEMALE ENTREPRENEURS

Law no. 134, passed on 24 November 1997, provides special benefits for anyone wanting to set up a new business enterprise with innovative characteristics. Law no. 179, dated 13 December 2005, at art. 36, envisages the extension of the benefits mentioned in Law no. 134 dated 24/11/1997 from service and manufacturing companies only to trading activities as well.

 - Who can benefit from the law ?

Involved in such benefits are companies established under San Marino law organised along one-man business lines, in the form of limited-liability companies, joint-stock companies, general partnerships and cooperatives, with the majority participation of youngsters aged between 18 and 35 (42 for women) who live in San Marino or set up entirely by youngsters aged between 18 and 35 (42 for women) who live in San Marino.

- What kinds of businesses are involved ?

The companies that will be able to make use of such benefits, on the basis of projects with innovative characteristics, must operate in the manufacturing, services or trading sectors.

- Investments allowed:

€ 103,291.38 (services or trading), € 206,582.76 (manufacturing).

- Financial incentives

  • Non-repayable contributions amounting to up to 20% of the allowed investments
  • Facilitated credit up to 80% of the allowed investments (60% of interest paid by the State).
 - Tax incentives

· operating profits (up to € 15,500) are exempt from General Income Tax for the first three/five years of business.

- Social Security incentives:

· for all employees, a 50% discount will apply to social security contributions for the first three/five years of business.

Law 24 November 1997 no.134Regulation of enforcement of Law 24 November 1997 no.134 Access the website to file an application
Last Updated on Thursday, 28 January 2010 17:05
 
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