The Portuguese Registry of UBOs (Beneficial Owners) is the transposition of the Chapter III of Directive (EU) 2015/849 of the European Parliament and of the Council. Portuguese companies must identify the UBOs, ie those individuals “ who, in any event, has their...
The Council of Ministers has approved, today, the update of the Guaranteed Minimum Monthly Remuneration (aka Minimum Wage) to EUR 635 (six hundred and thirty-five euros), effective on 1 January 2020. The XXII Government has included the sustained rise of the minimum...
The Presidency of the Council of Ministers of the Portuguese Republic has approved armed private security onboard Portuguese registered ships, including those registered in the International Shipping Registry of Madeira (MAR), through Decree-Law 159/2019 of October...
The International Shipping Register of Madeira (MAR) is now issuing ships’ electronic certificates and documents. In line with national policies concerning digitalization within public services and administration, the Portuguese maritime administration has also taken...
Following the publishing of the new list of “high value added activities” applicable to non-habitual residents (NHR) that register from 2020 onward, the Portuguese Tax Authority (AT) has decided to change the way which it controls how the high value added activities...
Portugal and its national merchant navy have recently been the subject of very positive analyzes by both the Organization for Economic Cooperation and Development (OECD) and the United Nations (UN). The reason: the International Ship Registry of Madeira (MAR) In the...
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...
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...