Madeira

Madeira Island is an autonomous region of Portugal, located in the North Atlantic Ocean. Together with Porto Santo and two uninhabited islands, Madeira forms an archipelago.

Madeira is part of the European Union as a particularly remote territory, where the Schengen Agreement is in force. The island lies 1000 km from Portugal and 500 km from the African coast. The area of the island is 801 sq. km. The population is about 168 thousand people. The official language of Madeira is Portuguese. Currency - euro. The main sources of income on the island are tourism, agriculture, the provision of various services, as well as international business operations.

Madeira has the status of an economic zone with preferential taxation. Companies registered here operate in accordance with the EU directive and freely promote their goods and services on the European market. Their activities are controlled by the Ministry of Finance and the Bank of Portugal.

Advantages

Existing tax incentives for international companies.
Customs benefits. Manufacturers are allowed to import duty-free raw materials and goods for the manufacture of products. The export of finished goods to the territory of the European Union is also not subject to taxes and quotas. This does not apply to goods manufactured outside the EU.
50% subsidies for staff training and the introduction of energy-saving technologies.
Madeira is not on any of the European tax blacklists.
Low wages and reduced operating costs.
The development of the banking, transport and manufacturing sectors is at a high level.

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