Business relations between the Free State in South Africa and Madeira are set to improve
11 May, 2016
The names of these regions may be unknown to many, but doing business between the Free State and Madeira has never been better. Focusing on trade and tourism, both states have much to learn from each other as indicated by the President of the Free State, Mr. Ace Magashule. He said that "I hope that the Madeira government will partner with the Free State province, especially in tourism"
Why is Madeira so successful in doing tourism business? This rather small island in the North Atlantic has population of just 300,000, but manages to attract more than seven million tourists every year. A combination of incredible tourist attractions and well developed infrastructure have made Madeira the tourism business mogul it is today.
Our readers should know that Madeira is a highly tax efficient jurisdiction with a mere 5% corporate tax on net profits. Withholding taxation is reduced to zero for many types of payments, including dividends. Holding companies will enjoy zero capital gains tax. Healy Consultants agrees this structure is the most efficient when doing business with the Portuguese Speaking African Countries community, which includes: Angola, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique and Sao Tome e Principe.
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