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09-10-2019 MAR in the top 15 shipping registers of the world... “The International Shipping Register of Madeira (MAR) achieved a new level of international......

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05-12-2017 MAR contributes to Portugal's inclusion in Qualship 21 For the first time, vessels under the Portuguese flag have been included in the Qualship 21 Index...

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11-10-2017 MAR continues to show a positive growth trend... The continuous and positive growth of companies in the International Business Centre of Madeira i...

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Madeira's IBC consolidates growth in 2014

Madeira's IBC consolidates growth in 2014

According to the latest available data, the International Business Centre of Madeira (IBCM) grew in numbers when compared to 2013.


In fact, on the 31st of December, 2014, a total of 2.193 entities were licensed to operate within the framework of the IBCM, as opposed to a total of 1.903 entities registered at the end of 2013.

These are clearly positive indicators which began to appear during the second semester of 2013, after the positive decision taken by the European Commission to review the ceilings applicable to the taxable profits of companies in the IBCM which may enjoy a reduced corporate tax rate of 5%.

As it can be seen in the table below, the growth the IBCM experienced in 2014 was mainly due to an increase in the number of companies in the International Services sector as well as in the number of vessels registered in the International Shipping Register - MAR. Both sectors of the IBCM play a vital role in the diversification of the island's economy, by creating news sources of revenue and employment, among other benefits.

Presently, a formal negotiation process is taking place between Portugal and the European Commission in order to approve Regime IV of the IBCM, which is expected to be in force until the end of 2027. In this regard, S.D.M. hopes that the European Commission will take a quick and adequate decision in order to reinforce the competitiveness and stability of the IBCM as a vital tool to attract foreign investment and to diversify Madeira's economy.

 

Number of entities operating within the IBCM

Sector 31/12/2013 31/12/2014
International Services 1590 1821
Industrial Free Trade Zone 50 47
Entities Registered in MAR 263 325
Total 1903 2193

 

 

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