5 good reasons to invest and work in Madeira
Known for centuries for its wine, landscapes and climate, Madeira emerged on the map of foreign investors a little over 3 decades ago with the approval of its privileged tax regime by the European Union.
Today, with a vast offer of quality properties and a state-of-the-art telecommunications network, both at good prices, the region also offers excellent conditions for those who want to invest or work here, especially in the current environment in which working from home is a reality for so many professionals around the world.
Madeira also offers several other advantages for those who want to live and work here, as well as to invest. Here we highlight the 5 main ones:
1. Control of the COVID-19 pandemic
Madeira was very quick to implement measures to control the pandemic, pioneered the development of a good practice document to deal with Covid-19 and implemented a very effective screening operation at airports at the entrance of visitors, which resulted in a very low number of infections and a good control of outbreaks that arose locally. On 23 September, the region had a total of 205 confirmed cases, of which 150 were recovered and 55 were active. It is considered a safe region to travel and the international airport has direct flights to several international capitals, thus reducing the number of connections on travel to a minimum.
2. Extension of the IBC's tax regime until 2023, with benefits maintained until the end of 2027
On 2 July 2020 the European Commission announced that it would extend the validity of certain state aid rules that would otherwise expire at the end of 2020. Under these terms, new companies can now be admitted under the preferential tax regime of the International Business Centre of Madeira (IBC) until 31 December, with the benefits remaining valid until the end of 2027. The IBC of Madeira establishes a corporate tax rate of 5% on profits resulting from qualifying operations, withholding tax exemption on the distribution of dividends to shareholders not resident in Portugal, an extremely competitive participation exemption regime, reduction in the rates of some taxes, among several other advantages.
3. Special residence permits and a special tax regime for non-habitual residents
As in the rest of the country, non-EU citizens interested in living in Madeira will be able to obtain a temporary residence permit through a simplified and rapid procedure, whether for investment activities, entrepreneurship and innovation or highly qualified employment. They can also benefit from the special tax regime for non-habitual residents in Portugal (NHR), which applies to any person who becomes a tax resident in Portugal and has not done so in the previous 5 years (whether they are EU or non-EU citizens).
4. Qualified, dedicated professionals with a command of foreign languages
"This team is well above anyone I could hire in my country, at this salary level" "The quality is brilliant, and so is the cost" "We are so pleased with the professionals we have hired for the Madeira office that we want to expand the team to new functions". These are just some of our clients' comments about the professionals they hire in Madeira, and one of the best arguments for their investment in the region.
5. A paradise island - and time to discover it
The quality of life is one of the main factors that lead us to relocate to another country, but how often do we have time to really appreciate all the good aspects that a new life provides? In Madeira, the climate is mild all year round, the days are long and the distances are short. There is time to work, manage family logistics, run or cycle a few kilometres at the end of the day and enjoy the sunset by the sea. Walk for miles in the middle of the Laurissilva forest and end with a dip in the ocean. In this region, combining work and leisure is not a cliché - it is a reality.
Download our Madeira Brochure to learn more about the business environment and the advantages of investing and working in Madeira.