San Marino Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Low Concern
US State ML Assessment
Low Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 88 |
Economy
San Marino has a developed economy primarily driven by finance, industry, services, retail, and tourism, making it one of the wealthiest countries in terms of GDP per capita. The country benefits from low taxation rates, attracting businesses and contributing to its significant tax haven status, while its GDP per capita and standard of living are comparable to those of Italy.
San Marino presents a favorable investment climate, characterized by low corporate tax rates and various incentives for new businesses, which significantly reduce tax burdens. The country, while not part of the European Union, has a monetary agreement allowing it to use the euro, enhancing trade and investment opportunities. Its political stability and strong financial sector further attract foreign investments.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings