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Madeira
NEWS
  Greek strife will spread across Europe, UK on 06/05/2010
  G20 to meet over bank tax, China on 21/04/2010
  Greece: bailout or bust? on 21/04/2010
  Goldman Sachs decision will have international implications on 21/04/2010
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FACT FILE
Location Situated north of Canary Islands, north-west coast of Africa.
Time Zone Central European Time – 1.
Population 260,000.
Capital Funchal.
Airport Madeira International Airport.
Language Portuguese.
Currency Euro.
Dialing Code +351.
Centre's Expertise Services, Financial, Shipping and Industrial.
Political System Autonomous Region of the Portuguese Parliamentary Republic.
Legal System Parliamentary Republic.
Personal Income Tax Progressive rate (general regime).
Corporate Income Tax Total exemption or low rate, depending on the type of license.
Exchange Restrictions
Tax Treaties Several tax treaties and parent subsidiary directive.
Permitted Currencies Euro
Minimum Authorised Capital 5,000 (LDA companies); 50,000 (SA companies); Shipping companies do not need to observe the sharecapital requirements.
Minimum Share Issues One.
Shelf Companies Limited liability companies; changeable to SA companies.
Incorporation Time Scale 1 hour, provided all documentation from the shareholders is ready.
Incorporation Fees 750 euros or 1.000 euros payable to SDM.
Annual Fees From 1.000 to 1.800 euros payable to SDM plis management fees.
Minimum Number 1 (for S.A. companies, if share capital is higher than 200.000, 2 minimum of 2 directors is required).
Residency Requirements N/A.
Corporate Directors
Meetings/Frequency None, in case of limited liability companies; 1 per year in case of S.A. companies.
Disclosure Yes.
Bearer Shares Register or bearer shares.
Minimum Number One.
Public Share Registry Only for limited liability companies.
Meetings Frequency One per year.
Annual Return Once or twice a year.
Audit Requirements Only for SA and pure holding companies, and limited liability companies that rise above some thresholds.
Registered Office Madeira.
Domicile Issues Re-domiciliation permitted.
Company Naming Restrictions Subject to administrative approval.
ARTICLES
Mergers and Spin-Offs: Clarifying and Simplifying Procedures
  Modernisation and technological advancement have served to make Portugal a safer, simpler environment for international business. (27/02/2010)
The Madeira International Business Centre’s competitive new regime
  Luiz Augusto Teixeira details the main characteristics and benefits of the new fiscal regime. (06/01/2009)
Extension of Madeira’s tax regime until the year 2020
  Manuel João Pita analyses the new regime, which , he argues, has brought a new impulse to the jurisdiction (21/01/2008)
Madeira : Keeping it simple
  Manuel Freitas Pita unravels the new laws set to simplify and modernise Portugal’s company incorporation and activities. (08/01/2007)
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