San Marino (SM)

Jurisdiction Overview

172 *Are bearer shares available? No, bearer shares are not available/not circulating.
 Data Date: 2018


The Global Forum mentioned: "As noted in the 2013 Report (see paras 102-107), the provisions of the Company Law (Law no. 47/2006) concerning the possibility for anonymous companies to issue bearer shares was repealed and bearer shares were required to be converted to registered shares by Law no. 98/2010 and all anonymous companies to be converted into joint stock companies. The 2013 Report noted that there were no longer any anonymous companies operating in San Marino" (GF 2018: 41). In 2013, the Global Forum reported: "Provisions in the Company Law relating to anonymous companies were repealed by Law No 98/2010 This law required all bearer shares to be converted to registered shares and consequently all anonymous companies to convert into joint stock companies by 30 September 2010 and deposit a certified abstract of the Register of Shareholders with the Commercial Registry of the Single Court by 30 November 2010 Companies not fulfilling these obligations were subject to compulsory winding up." (GF 2013: 36).


GF 2018: 41