UK citizens at odds with Brexit fallout may find some resort in the oldest Republic of the world: San Marino.
All in all Brexiters (and the majority of UK citizens) have chosen to leave the EU because of bureaucracy, and – guess what – right now there’s a tiny city-State inside Italy, which is not a member state of the EU, depicting itself as a bureaucracy-free country. Indeed it seems not too difficult to win a date with a minister in San Marino, where everybody knows each other. Relationship among inhabitants and rulers is purportedly close and friendly, institutions have a name and a surname.
San Marino is in the process of negotiating a special agreement with the EU, as of now, though, the country is not a member State of it, nor will it be for the foreseable future, on the other side it is de facto part of the Schengen area (enjoying open borders with Italy).
Other features may pop before British eyes, for example the use of trusts, whereof the tiny Republic enjoys its own legislation – differently e.g. from Italy which is indeed a member to the Hague Convention (July 1st 1985) – like SM – but has no domestic law on trusts.
An interesting tax system and corporate legislation may be a plus as well.
Will the tiny country lure British investors? Things in the past did not go too well when British high-stakes entrepreneur, Simon Murray, tried to set his eyes on the country ten years ago… And got out pretty disappointed.
Shall we have a second chance?
Achille Campagna
Fonte: newsmaker.com.au
