San Marino Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF status
San Marino is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in San Marino was undertaken in 2024. According to that Evaluation, San Marino was deemed Compliant for 18 and Largely Compliant for 18 of the FATF 40 Recommendations. It remains Highly Effective for 1 and Substantially Effective for 4 of the Effectiveness ratings.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 89 |
Economy
San Marino has a developed economy primarily based on finance, industry, services, retail, and tourism, making it one of the wealthiest countries in terms of GDP per capita. Key industries include banking, electronics, and ceramics, with tourism contributing over 22% of GDP and attracting approximately 2 million visitors annually.
San Marino's investment climate is highly favorable, characterized by low taxation and a supportive business environment that attracts foreign investments. The country offers significant benefits to new businesses, which can lead to reduced tax liabilities, and its economic agreements with Italy further facilitate trade and investment. Despite some restrictions on specific imports, the overall environment remains conducive for investors, supported by a strong financial sector and a commitment to economic stability.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
