Hi! What are your thoughts on incorporation and opening a bank account in Madeira? From what I understand the taxes are low and process pretty straight forward. What are the benefits and costs compared to Cyprus?
Madeira as offshore
- Thread starter EliVonC
- Start date
- Status
You mean Madeira, Portugal taxes or is it a different island?
If it is portugal you think off, then they have a different tax regime than Cyprus, also it's not that easy to incorporate a company in Portugal and keep your privacy, furthermore, the corporate tax is much higher than in Cyprus.
If it is portugal you think off, then they have a different tax regime than Cyprus, also it's not that easy to incorporate a company in Portugal and keep your privacy, furthermore, the corporate tax is much higher than in Cyprus.
Thank you for the replies. Yes, I mean the Archipelago of Madeira (it is an autonomus region though). I posted this question, because lately I have seen it emerging in the "Top 10 places of offshore banking" lists together with Morocco, but not too many reviews on the topic. Basically I have heard many Italians looking for the alternatives (both in terms of banking and incorporation outside Italy). Their main questions are always VAT and banking accessibility (so that they don't have to provide a proof for source of income if cash deposit exceeds 1000 EUR). For that reason the banks in the Caribbeans are not an option. So I figured in this case incorporation and banking sort of might go together provided some tax can be reduced (from some sources I understand it's 5%?). However. do you have any information, whether banks in Madeira would open an account for Caribbean registered companies?
Last edited by a moderator: Jun 10, 2014
Last edited by a moderator: Jun 10, 2014
Well, do you know if they have any banking secrecy or if they apply to common banking laws in Europe? Just wonder..
Toggle signature
Toggle signature
Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community
Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
Support the Freedom of Speech of our Community
Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
- Status