San Marino like Dubai? The Bañuelos project is the new paradise for vip- Corriere.it
The Spanish billionaire Enrique Bauelos de Castro set up the San Marino District company in San Marino on 3 August. a seed which, by sprouting, could profoundly affect the economy of the small republic. the first piece of a large political-entrepreneurial project, still in embryo but already married by a part of the government, which aims to create under Monte Titano a special economic (and fiscal) zone. Luxury residences and hotels, clinics – reads the draft of the project – companies in advanced sectors, international schools, wellness centers, high-end shops, private banks, top restaurants, to attract individuals, families and companies with high potential. A paradise for VIPs, sportsmen and others? A Montecarlo in the middle of Romagna? A small one Singapore, Dubai, Hong Kong? The Italians, excluded from what is learned, excluded. A draft law already ready. And even the controversies will not be long. But who Enrique Bauelos the key man ofOperation Des, Special Economic District?
About Bauelos
a volcanic businessman from Valencia with great fortunes and great setbacks with the focus of his activities in real estate. In 2006 he touched 7.7 billion of assets according to Forbes only to lose 6.4 billion in one year with the collapse of the Spanish real estate market. At that point there is moss on the international markets. In recent months he has worked with the government of Cape Verde, the African republic off the coast of Senegal, for a 500 million real estate project, similar to that of San Marino. With the Titano, however, there are no signed contracts, only working drafts, according to which the State grants the land and any real estate units to investors for the construction of functional structures for the Special Economic District. Both non-domiciled tax residents (those who stay in Des from a minimum of 90 to a maximum of 180 days) and Des businesses will enjoy a special tax regime.
The benefits for citizens
And what does the San Marino people get in their pockets? For example, the income from the flat tax for the release of residences and concessions (10 thousand euros per year); indirect income from tax revenue on the income of residents and companies Des. Investors, ie Bauelos or others, will collect the rents of the houses and the money for the services rendered in addition to enjoying the subsidized taxation. Apparently an operation in which everyone gains. The opposition to San Marino, especially Libera, a sort of Italian Pd, asks for an immediate comparison in order to avoid risks for the resilience of the San Marino system in favor of a few subjects with significant spending capacity. Within the same government there are those who, in private conversations, fears a danger of the sale of sovereignty.
Ecosystem to attract investments
The foreign secretary (minister), Luca Beccari, stifles the first controversy cries: No Montecarlo – he says – the characteristics of San Marino do not change. The idea is to create a functional ecosystem for attracting foreign investments in innovative and strategic sectors. Beccari confirms that everything still to be defined and that the project, was born from an idea of Bauelos, but it has not yet been defined with whom or with which entrepreneurs to carry out the project. Now there will be a competition. And the San Marino District of the Spaniard (and of his daughter Ruiz Gloria) already in pole position.