Madeira
Country: Madeira
Region: Europe
Currency: Euro (EUR) (€)
Languages: Portuguese, English
Time Zone: UTC 0
Communications: Good
Formation Cost: 4600 - 6000 USD$
Formation Time: 28 - 42 days
Maintenance cost: 1800 - 2200 USD$
Executive Summary: Madeira is a group of islands spread across an area of 5,000 square kilometers and forming part of an archipelago located in the Atlantic Ocean between Africa and the Azores. Madeira is part of Portugal and is fully integrated into the EU. Madeira’s population is 245,000, making it one of the most densely populated regions of the EU. The language is Portuguese and the legal system is based on the civil code. The airport of Santa Caterina in the capital Funchal has daily flights to Lisbon, taking 90 minutes, and connections to many other European cities. As a result of heavy government investment telecommunications are excellent. The economy is based on tourism, fishing, farming and financial services. The currency is the Euro. As a peripheral and poorer region of the EU, there is considerable EU funding to support development, which can assist inward investment. The Portuguese government, with the agreement of the EU, has also created an International Business Centre on Madeira which offers offshore status and very low taxes to manufacturing, services and a shipping registry. In late 2002, the EU approved an extension of the scheme, but this excludes new financial services companies. The scheme was extended in 2007 until 2020. Lately, Madeira has encountered fiscal troubles, precipitating sharp rises in VAT and corporate tax.
Suitable for: Shipping, Yachting, Trading Goods, Holding Companies, E-commerce, E-gaming
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Company Purpose Stats:
Wealth Management: | |
Treasury Management: | |
Banking: | |
Insurance: | |
Fund Management: | |
Shipping: | |
Aviation: | |
Yachting: | |
Trading Companies Goods: | |
Trading Companies Financial: | |
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Holding Companies: | |
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Property Ownership: |
Vehicle Types: Limited liability companies, trusts, stock corporations, general partnerships and limited partnerships
Capital primary business districts: Funchal
Good Relationships: Austria, Belgium, Brazil, Bulgaria, Canada, China, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Mexico, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom, United States
Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria
Tax Burden - Business: Very Light
Tax Burden - Individual: Heavy
Headline tax rates: CIT 5%, PIT 11.5%-46.5%, VAT 22%
Treaty Jurisdictions: Algeria, Austria, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Chile, China, Cuba, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Guinea-Bissau, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Korea, Republic of, Kuwait, Latvia, Lithuania, Luxembourg, Macau, Malta, Mexico, Moldova, Morocco, Mozambique, Netherlands, Norway, Pakistan, Panama, Poland, Romania, Russia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Venezuela
TIEA Jurisdictions: Andorra, Anguilla, Antigua and Barbuda, Aruba, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Gibraltar, Guernsey, Isle of Man, Jersey, Liberia, Montserrat, Saint Kitts and Nevis, Saint Lucia, Spain, Turks and Caicos Islands
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