By mcs editor No Comments
Those relocating to Portugal will soon discover that having a Portuguese Taxpayer Number (locally known as NIF – Número de Identificação Fiscal) is required for conducting business and engaging with governmental authorities for the purposes of almost anything.
To give a rough idea you are required to hold a Portuguese taxpayer identification number for the purpose of engaging the judicial system; opening a bank account; buying, renting or selling real estate property; buying or selling a car; incorporate a company; enrolling your kids in school (yes, your kids do need to have a NIF too); applying for membership with a professional guild; applying for residency; registering a trademark or patent; receive inheritance; celebrate any type of contract, etc…
Notwithstanding the above it is important to take into account that taxpayer number numbers are associated with one the following tax residency status:
- Resident: generally speaking those who have lived for more than 183 days (consecutive or not) in Portugal in any period of 12 months starting or ending in the relevant year; or having a house, at any time throughout the 12-month period, in such conditions that allow to presume the intention to hold and occupy it as the habitual place of residence.
Those qualifying as non-resident, or being registered as such, are required under to law to appoint a a tax representative, who can be a and individual or an entity with tax residency in Portugal. The only exception to this rule is those taxpayers residing in another European Union Member-State.
The consequences of the lack of a tax representative are close to those concerning the lack of NIF. In other words, anyone who is non-resident taxpayer abroad and does not have a appoint tax representative in Portugal cannot exercise the rights of complaint, appeal or challenge. Furthermore, “the Portuguese Tax and Customs Authority may rectify the tax residency of non-residency on its own initiative based on the information at their disposal”, with all the tax and reporting obligations that such action may incur.
Given the above the appoint a tax representative is of the utmost importance for those qualifying as non-residents outside the European Union and should establish tax representation through contract with an experienced representative. We at MCS have been providing such service for more than 20 years to international investors and expats alike.
Do not hesitate to contact our team should you have any questions. Continue reading
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Acaba de ser revisto o regime jurídico do Registo Internacional de Navios da Madeira (RIN-MAR ou MAR), através da Lei 56/2020 de 27 de Agosto.
As alterações ao regime jurídico do RIN-MAR são de tal modo relevantes, no reforço da sua atractividade e competitividade, que catapultam este registo para uma posição cimeira no contexto dos registos congéneres da Europa e do mundo.
Informatização dos atos de registo
As alterações agora aprovadas vieram implementar a informatização do registo, prevendo a possibilidade dos pedidos de registo serem apresentados (i) presencialmente, (ii) por via electrónica ou mesmo por (iii) correio (o que não acontecia até agora), bem como a possibilidade de serem apresentados registos em representações consulares de Portugal, ou mesmo, e em casos devidamente justificados, poder ser pedida a realização de registos ao fim de semana e feriados, desde que esta intenção seja comunicada ao registo comercial com uma antecedência de 48h.
Um tema que sempre levantava problemas jurídicos e práticos vê agora consagrada a sua resolução: Em caso de impossibilidade de apresentação do original do certificado de cancelamento do registo anterior , o registo definitivo passa a poder ser realizado com base em declaração escrita emitida pela autoridade de registo cessante, remetida à Conservatória da Zona Franca da Madeira, desde que ateste o cancelamento do registo anterior, o nome do último titular inscrito e ainda a inexistência de ónus sobre a embarcação. De salientar que toda a documentação, original ou cópia certificada, que titule os factos sujeitos a registo poderá ser entregue em qualquer posto ou secção consular de Portugal no estrangeiro incluindo consulados honorários, ficando estes obrigados de remeter a documentação à referida conservatória num prazo de 15 dias, devendo ainda notificar que está na posse dos referidos documentos.
É em sede das hipotecas marítimas que o regime traz as melhorias mais significativas.
Respondendo a uma pretensão antiga dos bancos financiadores, o regime excepcional agora consagrado permite, em caso de incumprimento das obrigações garantidas pela hipoteca , o exercício do direito de disposição sobre o navio por parte do credor hipotecário desde que sobre ele não incida hipoteca de grau superior e a determinação expressa das obrigações deste último no exercício do direito de disposição sobre o navio,
O direito de disposição confere ao Credor Hipotecário os poderes de apreender, fazer navegar e alienar o navio. A alienação, com a consequente transmissão do direito de propriedade sobre o navio só pode ter lugar uma vez avaliado o navio, segundo o modo e os critérios estabelecidos no contrato de hipoteca ou na sua falta ,segundo os critérios definidos por um terceiro independente que sejam comercialmente razoáveis.
As partes podem convencionar, no contrato de hipoteca ,que a alienação ou oneração do navio fique dependente do prévio consentimento do credor hipotecário, o qual se presume prestado findo o prazo convencionado para tal.
A alteração legislativa veio ainda clarificar os montantes garantidos pela hipoteca para além do montante principal: acessórios de crédito, juros moratórios e remuneratórios, despesas de constituição e do registo bem como cláusula penal, contratualmente acordados.
De notar que se excepciona deste regime as hipotecas sobre embarcações de recreio registadas ou a registar no RIN-MAR.
Prazos de Registo
Noutra sede, e quanto a prazos, encontra-se também acautelada a possibilidade do registo provisório contar com um prazo alargado (prazo máximo de 90 dias) para entrega de documentos e promoção do registo definitivo, sem o qual o registo caduca, bem como a possibilidade de prorrogação do prazo por um período de 60 dias, a pedido do interessado, desde que seja oferecida prova ao MAR do justo impedimento da entrega da documentação em falta, ou oficiosamente pela comissão técnica do MAR.
Registos Temporários em Casco Nú
Quanto ao registo temporário de embarcações no MAR (registo em casco nú) passa a estar expressamente prevista a exigência da autorização por parte dos credores hipotecários caso existam, o que vem conferir maior segurança jurídica aos interessados. Neste âmbito, determina-se que esta modalidade de registo passa a ser titulada através de um certificado de Registo Temporário do qual constam menções importantes sobre esse registo.
Livros de Bordo
Finalmente, vem liberalizar-se os modelos dos livros e diários de bordo requeridos pela legislação nacional e internacional. Consagra-se a possibilidade de utilização de outros modelos de livros e diários de bordo que não os indicados pela lei portuguesa, desde que incluam todos os elementos relevantes para o seu propósito e cumpram os requisitos internacionais aplicáveis.
A comunidade internacional do sector certamente estará atenta a estas alterações e verá no RIN-MAR um registo de primeira linha nas opções a considerar, tendo em conta o prestígio, a qualidade e a segurança conferida pelo Registo aos vários stakeholders.
auctores Rosana Rodrigues e Lília Caldeira Continue reading
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The International Shipping Register of Madeira (MAR) has published Circular 04/MAR updating the interpretation of national requirements related to logbooks on MAR registered vessels.
This circular is intended to advise shipowners, companies and Recognised Organisations (RO), when acting on behalf of the Portuguese administration, of the updated interpretation of national requirements in relation to the logbooks used on board MAR registered ships.
The national requirements
Relevant national legislation requires ships to carry logbooks in accordance with national and international legislation, which shall be authenticated by the relevant national authorities (MAR or DGRM) or a RO on their behalf.
In addition, it also establishes templates for those logbooks.
Although MAR registered ships are subject to a specific regime in several matters, in the case of the provisions related with the logbooks templates there is no reference to exclusions from its applicability to those ships.
Therefore, the understanding and practice has been to fully apply those requirements to MAR registered vessels as well and, consequently, MAR has been supplying vessels with complying books.
The updated interpretation
The Ministry of the Sea has now endorsed an interpretation of the legal provision in question where its application to MAR registered ships does not necessarily include the mandatory use of the logbooks national templates.
Following this interpretation, MAR registered ships are no longer required to use logbooks as per the national templates. Obviously, other relevant national and international requirements will continue to be applicable.
In any case, MAR will supply logbooks prepared in accordance with the national templates to companies that choose to continue to use them on board their ships.
Authentication and retention
The national legislation also includes requirements for the authentication and retention of the ships’ logbooks.
The authentication can be done during surveys by the RO, (the cooperation of ROs is kindly requested), by endorsing the masters’ opening and closing statements of the logbooks on board.
The retention of the logbooks on board is two years after the date of the last entry, but subject to international requirements when they impose longer periods of records retention.
The Portuguese administration is also addressing the matter of the use of logbooks in electronic format on board ships in order to adapt the relevant legal and technical framework.
When the national framework changes in that respect, MAR will advise accordingly.
If any additional information is required on the subject matter of this circular please do not hesitate to contact us. Continue reading
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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 case of the OECD, the country has been highlighted by the steady growth of its fleet since 2013, due to the work done under the MAR. The compliments to the Portuguese flag came from an OECD study in which Portugal is named one of the few flag states in Europe that have had constant success in growing their fleet over the last few years.
As for the United Nations, the most recent data confirm Portugal’s entry in the top 15 of the world records due to MAR.
In regards to the EU, it is confirmed that the International Register of Madeira Ships is the 3rd behind Malta and Cyprus, as the United Kingdom and Greece bring together several registers.
In recent years, in various international forums and agencies, the quality and growth of the Portuguese-flagged merchant navy has been widely recognized, based on analyzes that have the denominator of the International Register of Madeira Ships, and which unquestionably place the country among the most respected and competitive in the world in this sector.
This was the case for the International Chamber of Shipping (ICS) reports on the performance of ship registrations, placing Portugal at the level of the best in the world, and for other reports issued by international bodies and entities such as the Memorandum Committee (MOU) of Paris and the American Coast Guard Qualship Index.
It should be noted that the exponential growth of the MAR has provided Portugal with a quality fleet, having contributed decisively to the country and, consequently, also to Europe, having more weight in the large international maritime forums, namely in the International Maritime Organization (IMO), where the major issues related to the sea and maritime transport are discussed and decided.
The most recent data show that the Madeira International Ship Registry continues to show a positive upward trend. Since the end of 2018, over a period of six months, MAR has seen an increase of 27 more commercial vessels. With a total of 653 vessels registered on 30 June, MAR maintains its top position among European international registrations, both in number of vessels and in tonnage.
fons SDM – Sociedade de Desenvolvimento da Madeira
Our team at MCS has more than 20 years of experience in assisting ship owners, chartering companies and yachting companies in registering their vessels and yachts in the Madeira International Shipping Register and in incorporating and managing the respective companies within the Madeira International Business Center. For more information do not hesitate to contact us. Continue reading
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The International Shipping Register of Madeira – MAR is Portugal’s international shipping register and is among the international registers of the highest quality, having guaranteed adequate measures to ensure an efficient surveillance of all vessels registered.
Founded in the 1980s, MAR is now Portugal’s largest ship registry and Europe’s third largest registry by tonnage. In addition, international conventions ratified by Portugal are fully applicable to and respected by MAR and, as a result, MAR has never been considered as a “flag of convenience”.
With a solid and international reputation, MAR is whitelisted by the Paris Memorandum of understating, the Tokyo Memorandum of Understanding and the Qualiship of the United States Coast Guard.
Apart from fishing vessels, MAR accepts the registration of all types of commercial vessels, including oil rig platforms, as well as commercial and pleasure yachts and is today one of the favourite ship registries by German ship owners and UHNWIs.
MAR also offers a very competitive tax regime, applicable to both vessels and shipping companies licensed within the legal framework of the International Business Centre of Madeira (MIBC).
Being an E.U. Register, MAR allows full access to European waters without any type of restrictions to both commercial and private yachts.
All yachts registered in MAR will fly the Portuguese flag and will benefit from the services of the Private Commercial Register and Notary of Madeira’s IBC.
Why Madeira, Portugal?
Madeira, an Autonomous Region of Portugal and a European Outermost Region, can guarantee the independency and compliance of its tax regime and ship registry through the direct approval of the European Commission. In other words, investors can count with the immediate seal of approval and predictability set by the European Commission itself.
By registering your vessel in MAR, you have immediate access to European cabotage through the Portuguese flag and through Portugal a unique geographic positioning, between the Atlantic and the Mediterranean, as well as Africa and Latin America.
Apart from the benefits associated with MAR and the MIBC, vessels owners can cumulatively enjoy from Portugal’s Non-Habitual Tax Resident (NHR) and the Golden Visa programs.
Regarding the NHR, this program is specifically designed for individuals wishing to transfer their residency to Portugal. In this tax regime foreign sourced income such as dividends, interest, capital gains (duly structured), rental income, occupational pensions, together with self-employment income and professional income can be exempt from personal income tax; and Portuguese sourced employment and self-employment income are liable to a special flat rate of 20%.
On the other hand, the MIBC for effectively low taxes (5% tax rate) for companies providing almost any type of services (holdings, trading, e-business, consultancy, intellectual property management, right of publicity, among others…) to foreign entities.
Finally, Madeira is home to experienced business service providers, accountants and lawyers, with some of them being English native speakers and with more than 20 years of experience in dealing with low tax jurisdictions, including Madeira itself. Traditional commercial and advance tax knowledge is found among business service providers operating in Madeira.
Main benefits of MAR
From an operational point of view the main advantages of MAR rely of the Value-Added Tax (VAT) exemption, under certain conditions, and the crew associated benefits.
There will be a total exemption from VAT on registration, the same applying to repair and maintenance operations, as well as fuel and oil supply in open sea to ocean-going commercial yachts, according to Article 14º of the Portuguese VAT code
Regarding the crew on board commercial yachts there are no citizenship requirements, and it will be exempt from personal income taxes and will benefit from a flexible social security regime. Non-Portuguese crew members are not obliged to contribute to the Portuguese social security regime, provided that an alternative pension scheme is guaranteed. However, the crew may choose the Portuguese voluntary social security regime or any other type of protection scheme, public or private.
On the other hand, Portuguese nationals or residents in Portuguese territory shall be mandatorily covered by the general Portuguese social security regime, with a total contribution rate of 2,7%.
As for yacht owning companies, if these are companies licensed within the legal framework of the MIBC owning yachts engaged in charter activities, these entities will benefit from Europe’s lowest corporate tax rate (5%), on all foreign base profits, until the end of the year 2027, as well as have access to the network of Double-Taxation Treaties ratified by Portugal.
Applicable fees to yacht registration in MAR
Registering fees in MAR vary not only with the type of vessel you intended to register but whether such vessel will be used for personal or business purposes. Note that mixed use of a vessel is not allowed under the European Commission’s rules for MAR.
Therefore, under current Sociedade de Desenvolvimento da Madeira (the regulatory agency of the MIBC), the following fees will apply to those who intend to register a yacht:
- Pleasure yachts, registered for leisure purposes, are subject to:
- An initial fee due for the registration, in the amount of 500 euros;
- An annual fee payable to maintain the registration of:
- 500 euros for pleasure yachts between 7 and 24 meters long;
- 500 euros plus 2 euros per gross ton for pleasure yachts more than 24 meters long.
- Pleasure yachts, registered for commercial purposes, are subject to:
- For the initial registration or registration renewal:
- Fixed fee in the amount of 1,250 euros;
- Variable fee:
- Up to 250 gross tons, 200 euros;
- Above 250 gross tons, 0,75 euros per gross ton.
- An annual fee payable to maintain the registration:
- Fixed fee of 1,000 euros;
- Variable fee:
- Up to 250 gross tons, 200 euros;
- Above 250 gross tons, 0,75 euros per ton
- Yachts owned by entities licensed within the legal scope of Madeira’s International Business Centre are entitled to benefit from an exemption from the initial fee for registration and to a 20% reduction in the annual fee.
Given all the conditions mentioned above Madeira keeps alive the centuries old Portuguese maritime tradition. Although popular with European investors, Madeira is now positioning itself as a leading vessel registration destination thanks to the European Commission’s sanctions on popular offshore jurisdictions related to the maritime sector such as the Marshall Islands.
Our team at MCS, with more than 20 years of experience in the sector, is able to assist you in registering your vessel or yacht within the International Shipping Register of Madeira. For more information click here, for information our services click here. Continue reading