Debt in San Marino

Credit access in San Marino includes consumer credit, financing, leasing and guarantees. These activities are reserved under the LISF, while Banca Centrale della Repubblica di San Marino (BCSM) supervises the relevant intermediaries. Credit contracts and pre-contract information should clearly state costs, obligations and contractual terms. BCSM also publishes quarterly anti-usury threshold rates. The Centrale dei Rischi records reports from banks, a financial company, a special-purpose vehicle, Società Gestione Attivi ex BNS and BCSM. Loans of at least EUR 10,000 are generally reported, while sofferenze from EUR 250 and insolvency statuses or guarantees can be recorded below that amount. At 31 December 2025, the register covered about 12,100 subjects, of whom 67.2% were individuals. Affected people may request their data and should first seek corrections from the reporting intermediary. The register does not have an ongoing automatic connection with foreign credit registers. Tax and other public claims follow a distinct collection process. The Ufficio impositore enters the claim in the Ruolo, the Dipartimento Esattoria issues a Cartella Esattoriale, and an avviso di mora may precede compulsory collection. The Cartella Unica delle Tasse is normally due by 31 March. The Portale PA ESATTORIA allows access with SMAC and OTP, viewing of cartelle and instalment plans, online payment and delegation. A challenge against a Ruolo generally has a 15-day deadline. It does not itself suspend enforcement, and the Ufficio impositore has 45 days to decide. Under Article 34, a written request for dilazione di pagamento can cover Ruolo taxes of at least EUR 2,000. The monthly instalment must be at least EUR 100, the plan can last up to 120 months and suitable security may be required. Three unpaid instalments can cause the plan to lapse. After the plan period, one unpaid instalment followed by 90 days can also cause lapse. The request alone does not stop enforcement; protection begins when the agreement has been signed. The application fee is EUR 100, and enforcement costs remain payable by the debtor. A family home is generally protected when it is the only residential property, subject to the applicable exception for A1 properties. Article 34-bis provides a promessa di pagamento for cases that cannot provide security. It is unsecured, requires monthly payments and can last up to 24 months. The first payment is made when the promise is signed. Proper payment suspends enforcement, but three unpaid instalments cause lapse. A further promise is generally possible only when no earlier instalment remains overdue. Restructuring an existing Esattoria plan and special definition procedures depend on statutory conditions and can carry fees, including EUR 100 for a restructuring practice, EUR 100 for dilazione, EUR 50 for a promessa and usually EUR 100 for a definitione agevolata. For the period from 1 July to 31 December 2026, the mora rate is 5.556%, calculated under the applicable statutory formula. The Esattoria-Ufficiale della riscossione can enforce claims through seizure of movable or immovable property, fermo, ipoteca and movable or immovable auctions. Private creditors use the Tribunale Unico and Cancelleria Civile for measures such as sequestri, pignoramenti and other execution proceedings. A debtor may propose datio in solutum by offering the debtor's or a third party's property. The request must state the reason, describe the asset and provide supporting evidence; the authority has 15 days after valuation to accept or reject it. Acceptance, together with the required public-interest decision by the Congresso di Stato, can extinguish the debt. Any excess value can create a tax credit for IGR or Imposta merci. A discarico can end Esattoria enforcement when no attachable assets, rights or funds exist in San Marino, or when enforcement would cost more than the claim. It does not automatically cancel a private debt or prevent the originating office from registering the claim again. A challenge against a discarico normally has a 15-day deadline, and renewed registration is generally limited for up to five years unless there is a justified reason. The Tribunale Unico accepts formal applications for giudiziale concorso dei creditori, liquidazione dei beni e delle proprietà, moratorie and concordati. These proceedings are filed through the Cancelleria Civile and are not the same as a general personal insolvency or consumer-discharge system. Banks and other entities subject to financial supervision can instead face special regimes such as amministrazione straordinaria, liquidazione coatta amministrativa or risoluzione under Legge n. 102/2019. San Marino's public debt is managed by the Ragioneria Generale dello Stato, with BCSM acting as paying agent and central manager for domestic government securities; those institutional instruments do not provide a private solution to household over-indebtedness.