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Youth Entrepreneurship Support Of New And Female

Original Language Title: Sostegno Di Nuova Imprenditoria Giovanile E Femminile

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b) Law 134 of 24 November 1997




LAW IN SUPPORT OF NEW YOUTH ENTREPRENEURSHIP AND FEMALE


We the Captains Regent of the Most Serene Republic of San Marino

Promulgate and publish the following law passed by the Council Great and General
its meeting on 24 November 1997.
Art. 1

General principles This law is aimed at promoting the new youth and women's entrepreneurship.
The provisions of this law are directed to:
a) encouraging the promotion, organization and finalization of entrepreneurial energy;
B) promoting entrepreneurial training and improving their professionalism
youth and women;
C) facilitate access to credit for businesses of young or prevailing participation of youth and women
;
D) promote the presence of young companies or prevailing participation of young people and women
in the most innovative sectors.
Art. 2

Beneficiaries can access the benefits of this law: the San Marino law firms organized
individually, in the form of a limited liability company, in the form of joint-stock company, in the form
of partnerships and cooperatives, which are exclusively of young
property in the possession of registered residence in the territory and who are aged between 18 and 35 years old
.
They can also access the facilities provided by this law firms with more
holders of license or business to corporate character of San Marino law identified in the preceding paragraph
where the absolute numerical majority and participation shares of either
properties of youth who meet the above requirements.
The corporate statutes must contain a clause that does not allow transfer of acts
license or units or shares of companies that eliminate the subjective conditions of
age and residence laid down in the preceding paragraphs, at least stte years from date of the resolution for approval
to the facilities provided for in article 11.
the amendments to that statute or transfer of a license before the
seven years term causes immediate forfeiture resulting in return of benefits granted.
Art. 3
The women's enterprises
Where undertakings referred to in Article 2 above meet the following requirements:
a) in the case of individual enterprises, those enterprises whose owners are women;
B) in the case of companies, companies in which the two thirds of the shares are owned by women
properties;
The maximum age limit is increased to 42 years.
Art. 4

The Projects eligible for financing referred to in Articles 2 and 3 companies are admitted to facilities provided on the basis of
projects with innovative features related to the realization of services to enterprises in all industry and production
of goods in industry, crafts and agriculture.
The project must be characterized with the launch of a new initiative, are not allowed then
extensions, modernizations, conversions and renovations of existing initiatives.
The business activities foreseen in the project must also be among the privileged ones by
guidelines for economic and industrial policy.
The business activities foreseen in the project must be time for a period of at least seven years from the date of admission to
facilities provided for in article 11
Art. 5

The benefits are three types of support are provided: financial incentives, tax - contributory and real services.
Financial incentives are granted for investments and operating expenses.
The tax and social incentives include:
- profits for the year of business activities, provided for by this law, they are exempt, in
extent and in the way stipulated by special decree eggenziale, from tax on General
income for the first five years of operation;
- To all employees hired by the companies referred to in this Act applies a 50%
exemption from social security contributions due to the pr me five years of activity;
- Bills of exchange issued by the companies benefiting from this law are subject to stamp duty
at the rate of 0.10 per thousand, whatever their maturity and the amount.
The real services consist of technical assistance and training and professional qualification
, provided by the newly-formed Agency for Promotion and Economic Development
in collaboration with the Vocational Training Centre, as part of their institutional purposes.

For such services to be delivered directly or in collaboration with third parties, the State
will assume the costs for a maximum period of three years following the start of.
Art. 6

Financial Incentives Financial incentives for investment and operating expenses, up to the third year of operation,
is granted, regardless of the total amount of the project cost, up to a limit | || ceiling of 200 million for service companies and 400 million for the
agribusiness, the expenses considered eligible, as per Article 7, which can be divided into
:
to ) capital contribution grant that is granted for a maximum of
20% of eligible expenditure;
B) subsidized credit to the extent of up to 80% of eligible expenditure with a
burden borne by the state interest of 60%. The capital contribution to the bottom
lost and subsidized loans are disbursed in accordance with Law 28 January 1993 n. 13, by
whose annual financial availability will be given a share, both for financing
mortgages and for the financing of capital grants.
The disbursement of the capital contribution will be assisted by a fond lost
lien on assets financed in favor of the State and will be guaranteed against the revocation in the same manner provided
Article 21 of Law 28 January 1993 , n. 13.
Art. 7 Eligible expenses

As for investments, the expenses considered eligible for the realization of the project
:
a) feasibility study including market analysis;
B) connections, machinery, plant and equipment, patents
c) other tangible and intangible assets used over several years directly related to the production cycle.
No expenditure shall be eligible for:
a) purchase land, construction and real estate acquisition;
B) expenditure incurred before the date of submission of the application for admission to the facilities
.
As for operating expenses, are considered eligible the following costs that are actually incurred and documented
:
a) raw materials;
B) semi-finished products;
C) finished products to be used in new machining processes;
D) the services received;
E) interests;
F) discounts and other financial charges;
G) the rental of property;
H) lease payments (not allowed for projects related to the provision of services).
Are not eligible expenses:
a) interest on loans at a subsidized rate;
B) wages and salaries;
C) reimbursement to members of the employees;
D) all expenses incurred before the date of the admissibility decision to the facilities;
E) expenditure on goods and services provided by relatives or members;
F) costs of representation.


Art. 8 real
Services
The actual services provided to the new company being established by the Agency for Promotion and
Economic Development, may include: identification of development opportunities, preparation of information tools on
technologies, promotion on international markets,
assistance regulatory and training.
Art. 9
Application for admission to facilities
The application for admission to the facilities must ESSR presented to the newly established Agency
Promotion and Economic Development, and must contain:
a) full name, company name, address, age, the applicant's qualifications;
B) if requested in association ESSR has presented the list of members;
C) the business plan, with specification of the characteristics of the product and / or service to be produced
/ play, the markets for procurement of the necessary resources, the market outlook
;
D) business plan (business - plan);
E) financial plan;
F) occupational plan in the short and medium term.
The Promotion Agency of Economy and Development, the correctness and completeness of
formalities required, shall refer the request to the Commission for
for youth entrepreneurship and women set forth in Article 10.
Art. 10
Commission for youth and women's entrepreneurship
The advantages provided for in this law are autrizzate by the Commission for entrepreneurship and female youth
composed of:
• Secretary of State for Industry , Craft and Economic Cooperation
(Chairman);
• Secretary of State for Work and Cooperation;
• Director of the Department of Technological Studies edEconomici
University of San Marino;
• President (Secretary General) ANIS;
• President (Secretary General) OSLA;
• President (Secretary General) UNAS;

• Representative of convenzioati Credit Institutions;
• 2 representatives of the newly-formed Agency for the Promotion and Development of Economy
.
The members of the Commission are appointed by resolution of the State Congress on the proposal of
membership organizations within three months from the t of entry into force of this Act and
remain in office for three years. And 'faculty members in writing delegate a representative if
are prevented from attending meetings of the Commission.
The Commission for women's and youth entrepreneurship has the task of checking the requirements
presence of the present law, to examine, evaluate the business plan and deliberate.
The Commission for women's and youth entrepreneurship examines the project with promoters, and
later resolution. Took the decision c municipal in writing, stating the reasons, the decision to
presenter.
The Commission for women's and youth entrepreneurship examines no later than December 30
projects submitted by 30 September and no later than June 30 projects submitted by 30
March.
Art. 11
Examination of and decision on eligibility facilitation
The Commission for the youth and women's entrepreneurship, on the basis of the feasibility study presented
, acting admission to the benefits provided for in Article 5 the extent and proportion that
deem adequate to the realization of the business project, in view of the credibility of
proponents, of the target market potential, the envisaged technical choices,
the initiative affordability and assessed the compatibility of the initiative with
general economic guidelines of the Republic.
The resolution for approval to the facilities should determine the characteristics of the financed project,
expenses permitted and to implement it time and defines the characteristics of the facilities granted financial
.
Art. 12
Revocation and cumulation of concessions
addition to the control powers provided by the Offices of the Public Administration and for
inspection bodies, the Commission for youth and women entrepreneurs can conduct inspections and audits
He aimed to ensure the permanence of the subjective and objective requirements of the preceding
articles 2, 3 and 4 that resulted in the granting of concessions.
The Commission for the youth and women's entrepreneurship proposes the withdrawal of benefits granted
if the requirements in question were to be no longer exist, enabling the recovery of the sums paid
and expenses.
The advantages of this law can not be combined with those of Law 28 January 1993 n
. 13.
For matters not covered by this Act in respect of grants and subsidized loans
, applies, mutatis mutandis for the Law 28 January 1993 n. 13, and in particular
articles 20, 21 and 22.
Art. 13 Financial coverage

At the financial burdens of the present law provides:
- the costs of the financial incentives previst Article 6 of this Law will count towards the cap
. 5/7220 "Grants c / interest subsidized loans to enterprises";
- The costs of the tax relief in the last paragraph of Article 5 are to be counted against the cap
. 8/7460 "Special Fund for Employment projects';
- The costs of the provision of real services, being established by the Agency for Promotion and Economic Development are accused of
special chapter to set up balance,
at the Secretariat of State for Industry , Craft and Economic Cooperation, with the budget bill.
Art.

14 Entry into force This Law shall enter into force on the fifteenth day following that of its legal publication
.


Our Residence, this day of 26 November 1997/1697 dFR




THE CAPTAINS REGENT
Luigi Mazza - Marino Zanotti