Spanish billionaire Enrique Paulos de Castro founded the San Marino County Corporation in San Marino on August 3.. A seed that can profoundly affect the economy of the small republic. The first part of a major political entrepreneurial project, still in maturity but already married by part of the government, which aims to be created during the reign of Monte Titano Special Economic (and Financial) Zone. Luxury residences, hotels, clinics – read the draft – companies in advanced sectors, international schools, health centers, high-end stores, private banks, luxury restaurants to attract individuals, families and high-potential companies. A paradise for VIPs, athletes and others? Monte Carlo in central Romania? young Singapore, Dubai, Hong Kong? Italians will be excluded, as far as we know. The bill is already ready. Even the disagreements will not last. But who is Enrique Puuelos the main manOperation Dis, Special Economic Zone?
A volcanic businessman from Valencia with great fortunes and major setbacks with his activities focused on real estate. In 2006 touched 7.7 billion in assets to me Forbes Only to lose 6.4 billion in one year with the collapse of the Spanish real estate market. At that point he moved to international markets. In recent months, he has worked with the government of Cape Verde, the African republic off the coast of Senegal, compared to 500 million real estate projects similar to the San Marino project. However, with Titan, there are no signed contracts, only working drafts, according to which the state gives the land and any of it Real estate units for investors to build functional structures to the special economic zone. Both non-resident tax residents (those who stay in DES from a minimum of 90 days to a maximum of 180 days) and DES companies will enjoy a special tax regime.
Benefits for the citizens
And what do the people of San Marino get in their pockets? For example, income from the flat tax for the release of housing and concessions (10 thousand euros per year); Indirect income from income tax returns on income of residents and dis corporations. Investors, such as a pauillos or others, will collect home rents and money for services rendered in addition to enjoying subsidized taxes. Seems like a win-win process. Opposition to San Marino, especially Libra, a kind of Italian PdIn order to avoid risks to the resilience of the San Marino system in favor of a few subjects with significant spending power, immediate comparison is required. Within the same government there are those who, in private conversations, Fears the danger of selling sovereignty.
An ecosystem to attract investment
Minister of Foreign Affairs (Minister), Luca Beccari, stifles the first cries of controversy: La Montecarlo – he says – the characteristics of San Marino do not change. The idea is to create a functional ecosystem to attract foreign investments in innovative and strategic sectors. Beccari stresses that everything remains to be determined and that the projectwas born from the idea of Paulus, but not It is still decided with whom or with which of the entrepreneurs to implement the project. There will likely be competition. The Spaniard’s San Marino region (and his daughter, Ruiz Gloria) is already in first place.
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