San Marino (SM)

Jurisdiction Overview

234 *Are Private Foundations available? No
 Data Date: 2018


According to the Global Forum: "Foundations mean entities governed by such Law, having legal personality, organisation of goods, assets and financial independence, not pursuing the objective of making a profit, other than companies, which do not carry out any economic activity, established by one or more founders, natural and/or legal persons, allocating, in full autonomy, their assets only to achieve a specific public benefit objective in one of the sectors mentioned in the relevant law. (Art.‚ÄČ4(1), Law no. 101 of 1 July 2015)" (GF 2018: 49). The Global Forum further adds: "Foundations can be established only for public benefit purposes, cannot make distributions to their founders, and the funds are irrevocably attributed to the foundation" (Ibid: 49).


GF 2018: 49