San Marino

San Marino is a landlocked microstate in Southern Europe, entirely surrounded by Italy, and functions more as a low-key wealth-preservation base than a mainstream relocation hub. The economy rests on banking, tourism, and light manufacturing; it uses the euro despite sitting outside the EU and Schengen, with an open border to Italy in practice.

Tax residency is residence-based with no non-habitual-resident or foreign-income regime, so worldwide income faces standard treatment. Immigration is narrow — no digital-nomad or investor visa track exists, and foreign residents typically arrive via local employment, self-employment, or family ties; non-resident property purchase requires government authorisation.

Naturalisation is among Europe's strictest at 25 years, with an Italian B1 language test and civic exam, though dual citizenship is allowed once granted. The passport ranks 15th globally with visa-free access to 177 destinations. English proficiency is unranked; Italian dominates daily life. Healthcare (index 80) and safety are excellent, while the cost of living (index 85) runs high for the country's size, reflecting its enclave status within Italy's economy.