Madeira Portugal

We assist global clients looking to do  business in Portugal (Madeira) with the A to Z of business setup without the need for the client to travel to Madeira, Portugal. Some of our services include:

Company / Branch registration

Tax registration and obtaining PIN

Regulatory licenses across all sectors

Personal and corporate bank account opening

Accounting and tax support services

Provision of nominee directors and shareholders

Recruitment and employee hiring

Virtual/Physical Office space solutions

Employment and residency visas

The most common corporate structures preferred by foreign investors setting up in Madeira, Portugal include i) the limited liability company (LLC/LTD) and ii) the branch office. See detailed comparison below:

Advantages and disadvantages of Madeira Portugal business setup:

  • Favorable Tax Regime: Companies established in Madeira’s International Business Centre benefit from one of the lowest corporate tax rates in Europe, with a reduced rate of 5% until 2027 under certain conditions.
  • Access to EU Markets: As part of Portugal and the European Union, companies in Madeira have full access to the EU’s single market, offering immense opportunities for trade across Europe.
  • Skilled Labor Force: Madeira has a well-educated, multilingual workforce, making it an ideal location for businesses that require skilled employees.
  • Geostrategic Location: Madeira’s location between Europe, Africa, and the Americas makes it an excellent hub for international trade and logistics.
  • Political Stability: Portugal is known for its stable political environment, which offers a secure business climate for investors and entrepreneurs.
  • Quality Infrastructure: Madeira offers modern infrastructure, including advanced telecommunications, transport links, and reliable utilities, essential for supporting business operations.
  • Cost-Effective Operations: Operating costs in Madeira are generally lower compared to mainland Portugal and other Western European countries, including lower labor and real estate costs.
  • Attractive Living Conditions: Madeira is known for its high quality of life, offering a pleasant climate, safety, and excellent healthcare and education systems, which make it attractive for business owners and expatriates.
  • Geographic Isolation: Madeira is an island located in the Atlantic Ocean, which can lead to increased transportation costs and logistical challenges when importing and exporting goods or managing supply chains.
  • Limited Local Market: Madeira’s population is relatively small, which may limit the potential customer base for businesses that rely heavily on local sales and services.
  • Dependency on Tourism: Madeira’s economy is largely dependent on tourism, making it more vulnerable to economic downturns or crises that affect global travel, which may indirectly affect local businesses.
  • Restriction in some lucrative sectors including aviation, insurance and telecommunication.
  • Higher Shipping Costs: Due to its remote island location, businesses may face higher shipping and freight costs, especially for goods that need to be imported or exported from mainland Europe or other global markets.
  • Potential Language Barrier: Although many residents speak English, Portuguese is the official language, and businesses may need to navigate language barriers, especially when dealing with local authorities, regulations, or contracts.

Important links:

Company incorporation steps in Madeira, Portugal:

  1. Name Reservation: Girimba Consulting reserves a unique company name through the National Registry of Legal Entities;
  2. Documents Preparation: Our Team prepares the incorporation documents and emails our Client for signatures, notarization and apostillation;
  3. Certificate of Incorporation: Our Team submits an application for company registration with the Register of Legal Entities of Portugal (Registro Nacional de Pessoas Coletivas, RNPC)office and obtain a certificate of incorporation;
  4. Personal Tax Number: If the director is a foreign national, our team submits an application for a personal tax number (PIN) with Tax and customs Authority;
  5. Corporate Tax Number: Our Tax Agent also submits an application to the Tax Authority for the corporate/company PIN (tax number);
  6. Other Registrations: If the Client intends to hire local staff, our Team registers the company with i) Social Security System and ii) PAYE (Pas As You Earn) Scheme;
  7. VAT Registration: If our Client expects to make taxable income exceeding EUR 13,500 within the calendar year, our Tax Agent proceeds to register the company for VAT (Value Added Tax);
  8. Bank Account Opening: Girimba Consulting also assists our Client to open a local corporate bank account with a top tier bank in Madeira, Portugal.

    Seek specific business information:

    Let us know more about your business needs by completing the form below. Our team will get back to you within twenty four hours.

    All information provided to Girimba via this form remains confidential, Girimba shall not sell, share or transfer any details to any authority or third parties except as may be required by law. If you however prefer not to fill up the form, you are welcomed to contact us by email or phone directly.

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    Girimba Consulting conducts business with openness, transperancy and honesty.We respect and uphold our Clients’ confidentiality, we offer quality service at affordable rates. Contact us for professional solutions.

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    Clarence S. Carlos

    Regional Cordinator

    Clarence is our regional cordinator and head of business setup secretariat.