San Marino More Than Doubles Income Requirements for Retiree Residency

The Republic of San Marino has raised its minimum income requirements for foreign retirees seeking residency.

The government issued a new Delegated Decree on November 21, 2024, raising the minimum gross annual income requirement to €120,000—a 140% increase from the previous €50,000 threshold.

For retirees who apply through savings, the minimum movable assets requirement rises to €500,000 from €300,000.

The decree specifies new rules for rental agreements. Family units or individuals sharing similar cohabitation relationships must hold exclusive “preliminary” rental contracts, which depend on residency approval.

While the exact rationale behind these changes remains unclear, Reframed CEO Valentino Coletto notes that “one of the factors that could have caused this raise is the increase in rents in the area, which has always been attributed to atypical residencies in San Marino.”

He expects this update to result in “30-50% fewer residency applications.”

Program Benefits:

• Residency in San Marino
• Preferential 6% tax rate on pension income (10 years, renewable)
• Option to include family members (spouse, dependent children up to 25)
• Path to permanent residency

Current Requirements:

• Income: €50,000 a year or movable assets totaling €300,000
• Available to private-sector retirees
• Excludes public pensioners

Changes for the 2025 tax year:

• Income requirement rises to €120,000/year
• Asset requirement increases to €500,000
• New rental rules require exclusive family contracts

The decree also specifies new rules for rental agreements. Family units or individuals sharing similar cohabitation relationships must hold exclusive “preliminary” rental contracts, which depend on residency approval.

Property purchases remain an option, as agreements are contingent on application approval.

The tax structure retains its existing framework. Private sector retirees who obtain residency status pay a 6% tax rate on their pension income for ten years.

Permanent residency can extend this preferential rate beyond the initial period. Italian INPDAP public sector pensioners continue to face exclusion from these tax benefits.

The changes will apply to all applications submitted in the 2025 tax year. Coletto confirms that “requirements of the other residency routes are not expected to change.”