Negotiations between Portugal and Hong Kong on the double taxation agreement concluded

The Portuguese Ministry of Finance and Public Administration recently announced on its official website that negotiations towards the conclusion of a Double Taxation Agreement between the Portuguese Republic and the Hong Kong Authorities have been concluded.

The signature of this agreement, to be concluded under the OECD Model Convention, is expected to take place during the forthcoming months.

The upcoming signature of this agreement is noteworthy and extremely relevant, given the strong and increasing economic development that this jurisdiction has been witnessing.

Moreover, the conclusion of this agreement may render investments through the incorporation of a company within Madeira’s IBC even more attractive both to domestic and foreign investors wishing to invest in and from this country, especially in Europe and Portuguese Speaking Countries, since, besides the advantages of the IBC regime, they might potentially benefit from a relevant instrument of tax relief.