1. Industrialization and storing of goods (Industrial Free Zone);
- Management and administration of the Free Zone is done by the Madeira Development Corporation - SDM (Sociedade de Desenvolvimento da Madeira).
- The Free Zone of Madeira deals with four types of activities:
2. "Offshore" international services;
3. "Offshore" financial activities;
4. International Registration of Ships.
SIMILARITIES TO OTHER BUSINESS CENTRES
Madeira Island is an "offshore" centre which offers advantages common to most "offshore" centres, such as:
- Total freedom of exchange, including free repatriation of funded capital and profits, free transfer of funds related to commercial operations and no imposition of restrictions on capital imports.
- Tax exemption on the profits of corporations until December 31, 2011.
- Tax exemption as far as the income attributed to entities which participate in the capital of offshore companies is concerned (profits, interests).
- Tax exemption concerning the income paid to third parties as interest (financial institutions) and "royalties", as long as the financing or the transfer of industrial property or similar is linked to the activities of the companies in the Free Trade Zone.
- Tax exemption as far as the income paid to the users of the services is concerned, and provided that these are not domiciled in Portuguese territory.
- Total bank secrecy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact:
Christina Perriera Madeira Fiducia Management LDA Rua 31 de Janeiro No 81-A 5E -9050 Funchal Madeira Portugal
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