London, 25th May, A Taste of Madeira in London
On Thursday 25th May, from 5.30 to 7pm, the Portuguese Chamber held a seminar in London about the attractions of Madeira as a centre for services, enterprise and investment, with the members of IPAL – the International Professionals Association.
Part of Portugal, the Atlantic island of Madeira is an extremely attractive destination in which to live and also in which to structure a business, due to its very beneficial new tax regime. Of particular interest to those who specialize in international tax planning is the International Business Centre of Madeira (IBCM), which was established in the 1980s to kickstart the island’s economic development, and now accounts for some 12% of all direct foreign investment in Portugal.
Our event sponsors include Invest Madeira, the Madeira Regional Government’s inward investment agency; the International Business Centre of Madeira (IBCM); TPMC, one of Madeira’s leading international business management companies; PLMJ, one of Portugal’s leading law firms that specialises in tax and foreign investment.
Topics to be covered at the seminar include; how the Madeira tax regime can be used in the context of Brexit; how Madeira compares with Cyprus and Malta in terms of tax benefits; case studies from existing businesses.
On 1 July 2015 the European Commission approved and published the so-called 4th Regime of IBCM tax benefits, allowing the licensing and incorporation of new entities within the institutional scope of the IBCM, the benefits of which run until 31 December 2027. In the run up to 2027, it is likely the next regime of the IBCM will be assessed and authorized in advance together with the European Commission, as it has been previously. This is a significant guarantee for the future.
The new tax regime has kept its previous structural outline, including one of the lowest corporate tax rates in the European Union ( 5%) and exemption from taxation on shareholder dividends, along with some other benefits that make it even more competitive and a real alternative to Cyprus and Malta.