Madeira Incorporation and residence for crypto trading

[Faruk]

Hello offshore people,

I didn't find any information on this forum about the tax system that sounds too good to be true for now. So I wanted to ask the forum and professionals to share their opinion on this subject.

Reading some internet resources and official Madeira website regarding tax rates in Madeira Island (Portugal) it seems like almost tax heaven for incorporation and business in that beautiful space.

Corporate tax for digital nomads can be as low as 5%, no dividend taxes and such. Access to Shengen zone and EU banking. What am I missing here?

I will list some of the websites and articles explaining the system.

Official website: Welcome to Madeira, OH

https://www.mondaq.com/withholding-...fits-does-it-offer-and-substance-requirements
https://nomadoffshoreacademy.com/madeira-tax-guide/

 

[daniels27]

As far as I know this was very popular years back. Now, they only give you tax incentives if you actually employ people and invest there. You can check the details here
https://www.ibc-madeira.com/en/tax-benefits.html
Please note that your "official" website if or a city in Ohio, US, not the Portuguese Islands.

 

[Faruk]

As far as I know this was very popular years back. Now, they only give you tax incentives if you actually employ people and invest there. You can check the details here
https://www.ibc-madeira.com/en/tax-benefits.html
Please note that your "official" website if or a city in Ohio, US, not the Portuguese Islands.

Hahahaha thanks for pointing that out. What a shame to be tricked like that. Rekt