San Marino (SM)

Jurisdiction Overview

IDQuestionAnswer
472 *LO Update: Is the update of information on the identity of legal owners mandatory? Yes
 Data Date: 2018

Notes

 
In 2013, the Global Forum mentioned: "Resolutions to modify the memorandum of association must be made in a public deed submitted by the notary to the Registrar for registration (Art 22) [of the Company Law, Law No 47/2006] [...]. Registered shares must be transferred by means of a public deed recorded by a San Marino notary, who is required to file an authentic copy of assignment deed with the Registrar's office [...]. Ownership information of companies is updated immediately when any change in ownership is communicated by the notary to the Registrar. The notary who validated the companies’ deeds or transfers of shares must communicate such changes to the Registrar within 30 days of validation. The Register indicates the dates when the information was provided as well as the date of change in ownership. The information received by the Single Court is kept in both hardcopy and electronic forms. The mechanism to record the changes ensures that the information available with the Registrar of Companies is complete and reliable" (GF 2013: 22-25; [TJN-Note]). In 2018, the Global Forum confirmed that there were no amendements to the Company Law since 2013 Report.

Sources

GF 2018: 27-30
 
GF 2013: 22-25