Open a company in Madeira

Open Offshore Madeira

Official language: Portuguese

Organizational and legal forms of companies:

1. A public company (SA).
2. Closed Joint Stock Company (LDA).

Capital: Funchal

Largest cities: Funchal

Government: autonomous region of Portugal

Legal system: Portuguese legal system

Currency: Euro

Offshore registration - cost and renewal, as well as additional services:

Brief description of jurisdiction: Madeira – a small Portuguese autonomous region, which is located on the island of the same name. She manages her own government. For global investors who want to open offshore, Madeira is the perfect place.

What is included in the cost of company registration and renewal:

1. Correct execution of documents by our specialists, as well as collection of all necessary documentation.
2. Carrying out the Due Diligence procedure, which involves the identification of the beneficiary.
3. Paying fees and charges imposed by the state.
4. Corporate support and legal support.
5. Professional consultation
6. Notary services that may be needed to certify documents.
7. Creating and issuing a power of attorney.
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Required documents from the beneficiary:

1. English-translated and notarized Commercial Certificate.
2. A certificate of registration written in Portuguese.
3. The Articles of Association and Deed of Incorporation, translated into English.
4. Memorandum and deed of incorporation in Portuguese

Documents provided after registration:

1. Tax Certificate
2. Charter and founding documents.

Working algorithm:

1. In order for you to better understand how to open offshore Madeira, we will conduct a full professional consultation and answer all your questions.
2. Next, we carry out the Due Diligence procedure, for which we need to obtain some documents from you that help identify your identity.
3. After paying for our services, we start collecting and processing the documentation that is needed to open a company.
4. We pay all necessary government fees and charges.
5. If you want to buy offshore Madeira, then we offer our professional assistance.

Jurisdiction Benefits:

1. It is very effective to open limited liability companies here.
2. The minimum share capital is EUR 50,000.
3. You can issue bearer and registered shares.
4. The company is fully managed by the Board of Directors.
5. There are customs benefits.

Disadvantages of jurisdiction:

1. The cost of opening an offshore company is quite high.

In what schemes it is usually used: As a rule, an international scheme (consulting) is used, which is a classic scheme for most jurisdictions. It is also common to see the use of a production scheme, a holding scheme, or a license scheme.

List of banks in jurisdiction:

1. International Bank of Funchal (BANIF) – the most prestigious bank in Madeira.

Company requirements:

1. To open a company, you need to have at least five shareholders, who can be individuals or legal entities.
2. It does not matter whether the shareholders are residents of Madeira or not.
3. The company must have a reserve fund, which consists of 20% of the authorized capital.

Prohibited activities: Insurance, reinsurance and trust activities are prohibited in Madeira without a license.

Taxation system: All businesses that are registered in Madeira pay a single tax rate – 27.5%. In addition, there are other taxes here: value added tax (19%), tax on dividends (25%), tax on interest (20%), tax on license fees and royalties (15%), on payment of winnings (23 -35%), rental income (15%), payment for management services and consultations (15%).

Corporate law:

1. Portuguese Companies Law

Filing Requirements: Any businesses that are open in Madeira must submit an audit report every quarter, accounting is mandatory.