Campione, we stress again, is NOT a sovereign political entity. It is not even like a province or state. As an Italian comune it is more like an American or British borough or township. Campione’s “foreign relations” are Italy’s, the way Anchorage’s are the USA’s. Campione does not even have a Chamber of Commerce, such interests are served by Como. Most major commercial activity in Campione, outside of the casino, is strictly underground. There are only a few bona fide Italian firms.
Company also offers a cheaper and more secure international telephone service to Scope’s Report buyers wherever they are in the world, including Campione. It will work even with mobile phones! Since the invoice comes from abroad, the tax authorities of any country CANNOT monitor your telephone expenditure. The company is called Mercury Worldwide Telecommunications but is not connected with Mercury Communications Ltd in the United Kingdom.
You pay less, you get digital quality connections and curious tax inspectors cannot snoop on your phone bill. Since the service moves with you, you are always billed (or not, if you choose not to receive bills!) by the same company for your international traffic wherever you are.
It’s also cheaper and safer than telephone credit cards and such like and offers call rerouting services, so you can actually have a permanent telephone number in a major European city and never be there! Many other services are being developed which will revolutionise the way you use the phone. You can even make money just by introducing a customer. The service is called For more information contact Scope International, you’ll be glad you did! PT2 has more information on telephone services for PTs. Current rates (1996-2017) are 56 cents per minute to Europe, 39 cents to the UK, 51 cents to the US: 40-80 per cent less than Swiss.
Tax treaties covering Italy cover Campione but as there are no serious banks nor any tax collectors in Campione, there is no way any foreign government official can ask for financial information. If your bank is in Switzerland, however, there is no longer a guarantee of secrecy. If you are a non-Italian individual living in Campione, the tax officials in Como will probably never know your name, especially if you use an exclusive maildrop outside Campione! This will make anyone think you live in Switzerland. Since you don’t, the Swiss will never be obliged to inform on you (they can’t either) and neither can the Italians since they are unaware of the details of your stay in Campione! If you own property however, or have the utilities billed in your name, you must have a Tax Code or Codice Fiscale and so are immediately visible.
Residents who do not do any of these things!
There is no liaison at present between the police, who issue the permesso di soggiomo (permit to stay) and the tax authorities. If you need to register as a resident, you must do so at the Municipio pronounced Mooneechipyo and called the “Comune” improperly, which does have links with the tax authorities.
Campione is a municipality (town) within the administrative area of the Province of Como. As a result there is no Campione company law. It is legally impossible to have a specific Campione Corporation or any such legal entity. You could easily set up an Italian corporation. For most purposes it would be foolish to form an Italian company. Subjecting your business to Italian corporate taxes, reporting requirements, burdensome bureaucratic paperwork and deadlines would be a very poor move indeed. Forming an Italian business entity is not anything a sane person would do unless absolutely obliged to. For example, your Italian corporation couldn’t fire a totally inept worker without paying substantial severance costs.
You may also be interested in setting up a US limited company for non-residents (US non residents and non citizens that is). The IRS does not have access to the records of non-resident US firms, and they can be managed by another firm. For more information contact Scope International for the appropriate referral to this Report’s Editor or see the Resource List at the back of this Report.
A very wealthy person based in Campione might, however, try to insulate himself against any future imposition of personal taxes by establishing a Liechtenstein Anstalt or Foundation. This legal entity would own his car and his house or condo in Campione. In this way, he would have no visible assets. The cost of such an entity would be at least US $4000 to set up and US $2000 per year to administer. Thus, unless your house and car were owned free and clear or were of considerable value, setting up a foreign holding entity would be, in our opinion, an unnecessary expense.