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The Autonomous Region of Madeira has since the 80s, a low tax system is known as the Madeira’s International Business Center, or MIBC. Since Portugal’s accession to the EU, the MIBC has been subject to several revisions and approvals from the European Commission....
8 reasons why to live in Madeira: Climate In terms of climate, Madeira is characterized by all-year-round spring-like weather, which is the typical weather in the Autonomous Region of Madeira. Note that the number of hours of sunshine per year reaches values as high...
It is no secret that Portugal offers, right now, the best program of residency by investment in Europe. Nevertheless, what might surprise some is that Madeira, a Portuguese Autonomous Region, just 900 km from the coast of Portugal (just one and half hour away by plane...
Acquiring the right of permanent residence As an EU national, you automatically acquire the right of permanent residence in another EU country if you have lived there legally for a continuous period of 5 years. If you fulfil this requirement, you can apply for a...
Trusts in Madeira are regulated through omission. Decree-Law 352/88 & Decree Law 149/94 deal with the registration and management of offshore trusts whereas Decree Law 264/90 concerns authorization by the government of trust corporations and branches. Portuguese...
Tax reporting obligations in Madeira and Portugal are a serious matter for who are residents, for tax purposes, including those under the NHR (Non-Habitual Resident) status, we cannot stress enough the following warning: all worldwide income needs to be reported to...
An update on the NHR status has occurred through a Minister of Finance’s Ordinance 230/2019, published today, has approved a revision of the list of jobs deemed as high-added value and therefore subject to a flat tax rate of 20% under the Non-Habitual Resident status....
If you have moved to Madeira Island or are planning to relocate, you already know that it is a beautiful place to live and with a lot of choices to what you can do. Nevertheless, such a move does require careful planning since the island can offer many tax advantages...
Taxation is one of the main reasons that hinder the economic growth of a startup and finding the correct jurisdiction for your rising business can be troublesome. That is why Portugal has come up with a taxation business that is startup-friendly. Startups looking into...
The European Union has its own list of non-cooperative jurisdictions, also known as tax havens. This list is a non-binding one, therefore acting as a "bullying" diplomatic document against small island economies. Given the above, Portugal has its list of what it...