Joao Morais

S.D.M. - Sociedade de Desenvolvimento da Madeira, S.A.

S.D.M. – Sociedade de Desenvolvimento da Madeira, S.A. is responsible, on behalf of the Regional Government of Madeira, for the management, administration and promotion of the International Business Centre of Madeira, which comprises presently three sectors of investment: the Industrial Free Trade Zone, the International Shipping Register -MAR and the International Services. The IBC of Madeira, also known as Madeira Free Trade Zone, was created formally in the 80's as a tool of regional economic policy. It consists of a set of incentives, mainly of a tax nature, granted with the objective of attracting inward investment into Madeira, recognized as the most efficient mechanism to modernize, diversify and internationalize the regional economy. With reduced direct and indirect taxation, adequate infrastructures, competitive operational costs, safety and quality of life, Madeira is positioned to provide international investors with a unique package of benefits, mainly of a tax nature, within a highly regulated jurisdiction. Since the beginning, Madeira's IBC has been fully integrated in the Portuguese and E.U. legal systems and, as a consequence, it is regulated and supervised by the competent Portuguese and E.U. authorities in a transparent and stable business environment, marking a clear difference from the so-called "tax havens" and "offshore jurisdictions", since its inception. In 2015, the European Commission authorized the new State aid regime for new companies incorporated between 2015 and 2020 and the extension of the deadline of the tax reductions until the end of 2027. Presently, S.D.M. has a team of 30 professionals working in the Madeira offices. Outside of Portugal, an efficient network of Correspondents covers the main international markets, enabling S.D.M. to better understand the specificities and particular needs of such markets and providing potential investors and consultants with a local personal contact.