REPUBLIC OF SAN MARINO, THE NEW HOME OF CYCLISTS
NEWS | 05/01/2022 | 08:05
by tuttobiciweb
San Marino is becoming the home of cyclists. Not a tax haven, but a real place to live and train. Approved in December 2020 and entered into force last June, the law “atypical residence with subsidized tax regime” it has attracted the attention of many sportsmen and cyclists in particular.
Among others Giulio Ciccone, Damiano Caruso, Vincenzo Albanese, Leonardo Basso, the Under world champion Filippo Baroncini, Nicola Conci, Alexander Konychev, Lorenzo Rota, Matteo Malucelli, Simone Velasco asked and obtained residency in the Republic of the Titan. , Giovanni Carboni, Jonathan Canaveral, Kevin Rivera, Lorenzo Fortunato, Matteo Fabbro and Manuele Boaro.
The residence reserves a health treatment favorable to foreign incomes of people who are rightfully found in San Marino for the first time and who independently provide for their own health treatment, as well as having a preliminary contract in hand for the purchase of a property or for the its rent. The advantage? The law provides that a tax of 7% is due on foreign products with a minimum amount of 10,000 euros and a maximum of 100,000 euros, which replaces the general tax on the income of individuals.
«These sportsmen – he explained to The Rest of the Carlino the Secretary of State for Sport of San Mrino, Teodoro Lonfernini – they were not looking for a tax haven as to demonstrate the agreements in force with Italy, their residences are real and not fictitious, these athletes live ours and in particular cyclists they chose us because this is a safe and peaceful territory . And if there is also a tax advantage for them, why not? “
Photo Facebook – Republic of San Marino
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