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Introduction Madeira is an integral part of Portugal; hence, the Madeira International Business Centre ("MIBC") is within the European Union. This fact differentiates Madeira from other tax-planning jurisdictions. Any business setting up in Madeira will gain access to the European market. Madeira is located in the Atlantic Ocean, 1,000 km from mainland Portugal and 870 km from North Africa. The landmass encompasses approximately 770 km2. The topography is mountainous and the highest point is 1,862 m. The scenery is spectacular and the vegetation diverse. The population is approximately 265,000 of which 100,000 live in the capital Funchal. Madeira benefits from partial political autonomy. Communications are good; there are regular daily flights to and from Lisbon. The flight from Lisbon to Madeira is one hour and thirty minutes. There are also flights from Madeira to other European countries. The political decision to introduce the MIBC was made in 1980. The legal and operational framework was created in 1984 when SDM (Sociedade de Desenvolvimento da Madeira, SA) was created with delegated responsibilities including the licensing of activities within the MIBC. The Madeira International Business Centre allows for the following activities:  Services - this includes the management of companies and trusts benefiting from an advantageous tax regime. International Shipping - MAR is a high standard quality register. All vessels registered fly the Portuguese flag. Financial Centre - As from 1st of January 2001 the issuance of licences is no longer permitted. Industrial Free Trade Zone - The FTZ caters for activities which involve the physical movement or manufacture of goods. |
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