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/
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/
