Madeira Business, Taxation and Offshore Information
Madeira is well located off the EU and Africa
Madeira is a small group of islands 1,000 km from Portugal and the African coast; 314 sq km accommodates around 268,000 people (March 2011) and many more tourists in season due to good scenery and a sub-tropical climate. The capital Funchal has an international airport well connected to European cities. The time zone is GMT. Madeira is part of Portugal and the EU; the language is Portuguese, although some English is spoken. The legal system is based on the civil code.
The Madeiran government has a good degree of autonomy from Portugal, but most legislation is Portuguese, including tax legislation. The economy is based on tourism, fishing, farming and financial services. As a peripheral and poorer region of the EU, there is considerable EU funding to support development, which can assist inward investment. The currency is the Euro. More »