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Registration Of Companies In Madeira (Portugal)

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Registration Of Company In Madeira (Portugal)

Madeira is an economic hub, a special economic zone that attracts more and more foreign investors to open their own business in Madeira, as it is an area with great tax benefits and the lowest tax burden in Portugal. Also, Madeira has a very well developed infrastructure, so it is ideal for foreign investors to do business.

 

Cost of services: 2150 EUR
Completion time: from 7 working days

 


First Legal Portugal provides a service for the registration of companies in the "offshore zone" of Madeira. The specialists of First Legal Portugal will accompany the procedure for registering companies, advise on the choice of legal form and a banking institution, assist in searching office premises and find answers to all your questions.

In Madeira, the same organizational and legal forms of companies as in the entire territory of Portugal are applied. However, the most popular forms of companies in Madeira are:

  • Sociedade Anónima - a public limited liability company (PLC) or an open joint stock company (SA/SA) - number of shareholders - 5, share capital in shares (registered or to bearer), share capital from 50,000 €, registered office.
  • Sociedade por Quotas, Lda – a share partnership or a closed joint stock company – share capital €5,000, registered shares allowed, minimum number of founders – 2, registered office.

The main legislative act in Madeira is the Code of Portuguese Companies (Codigo das Sociedades Comerciais).

 

The main stages of company registration in Madeira:

  • To come up with a unique name for the future company and get pedidos de certificado de Firma – registration (booking) of the future company name;
  • To open a bank account and deposit the minimum authorized capital - before starting the company registration;
  • To find and register a local office with an actual address and a local agent;
  • To submit a set of documents to the regulator - the Register of Legal Entities of Portugal (Registro Nacional de Pessoas Coletivas, RNPC) and obtain a certificate/license of incorporation;
  • To register the company with the tax service, by submitting a declaration (declaração de início de atidiva);
  • If the company employs citizens of foreign countries, to register with the Ministry of Employment;
  • To register with the Social Insurance Service;
  • To publish the charter in the local newspaper;
  • To register the deed of incorporation with a notary;
  • To register accounting.

 

There are 2 options for registering companies in Madeira:

  1. Usual (traditional) method - personal application to the Register of Legal Entities of Portugal (Registro Nacional de Pessoas Coletivas, RNPC);
  2. Online registration.

 

The main advantages of registering a company/opening a business in Madeira are:

  • Low level of tax burden on business, including large business;
  • Carrying out business activities in the MFTZ (Madeira Free Economic Zone);
  • Free access to the market of any country of the European Union;
  • Corporate tax – 5% until 2027;
  • English is the language of communication in the business environment in Madeira;
  • Access to Portuguese DTA agreements - double taxation agreements concluded with at least 62 countries of the world;
  • Loyal attitude towards foreign investors who invest their own funds in the Portuguese economy;
  • Fast company registration (up to 7 working days);
  • Opening of the company remotely;
  • Convenient conditions for doing business in general.

 

It should be noted that in Madeira a license is required for: insurance, fund management, banking, trust management, collective investment.

 

Taxation in Madeira

  • VAT – 22%, can be reduced to 12% and 5%;
  • Tax on dividends - 25% (citizens of foreign countries who are founders of companies registered in Madeira are exempt from this tax);
  • Corporate tax – 5% until 2027;
  • Royalty, rental income - 15%;
  • Tax on interest - 20% (exemptions may apply).

 

First Legal Portugal also provides a range of services for businesses in Portugal, namely:

FIRST LEGAL provides full support services on all legal issues in Portugal.


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