MADEIRA

INCORPORATION FEES
The legal requirements to incorporate an IBC in Madeira Islands, enabled to operate within the Madeira Free Trade Zone are the same ones as for a local company in Portugal (Continental Portugal), with a single difference that, previously, a License must be applied for, and obtained beside the “Conservatória do Registo comercial da zona franca da Madeira (CRCZFM)”.

We do however have shelf companies, licensed before 1st January 2003, for Madeira IBC's, thus avoiding the requirements as stated in the attached report, namely the Investment in the Island and the creation of local jobs, all of them with a wide business object, almost covering all business activities.

Of course, in case the client so wishes, we can always change the company's name and/or the business object, increase the share capital, and transfer the shares from the initial founders to the new shareholders.

These shelf companies will benefit from total tax exemption (IRC), since the shareholders are not Portuguese residents, and the company does not trade with local entities.

A – INCORPORATION
License payable to SDM – Euro 500,00
Name approval - Euro 430,00
Notary Fees – Euros 2,250.00
Our professional fees – Euro 2,900.00
VAT on above services to be added

B – ANNUAL FEES PAYABLE IN ADVANCE
Annual License Fee payable to SDM - (5 X 1.000) – Euros 5,000.00
Provision of registered Offices – 1,500,00
Filling in and filing quarterly VAT forms – Euro 1,250.00
Filling in and Filing Annual Accounts by Registered Chartered Accountant, as required – Euro 1,750.00 (*)
3 Nominees (2 shareholders + 1 Director) – Euro 2,100.00 + VAT (**)
Subsequent years, License Fee payable to SDM will be just Euro 1,000.00

(*) These fees, in case the number of documents to be processed will be greater than 20 documents, we shall need to review and adjust the price.

(**) In case the client wishes, we can transfer the share participations to the new shareholders, and appoint a new Director as per client's instructions.
In such case, these fees will not be applicable on 2nd and subsequent years, but we shall apply the registration costs relating such changes which will be made by Notary Deed – Euros 1,420.00

REMARK
Mailing Address in Funchal with mail re-forwarding mailing services, as required – 950.00/annual
Registered Accountant to sign all incorporation and registration company documents – Euros 175.00
Official Company Seal – Euros 75.00
Application for VAT Registration Number – Euros 175.00
Opening of bank account with BANIF - General disbursements – Euros 150.00
DHL delivery of documents, if within Europe – Euros 70.00

IMPORTANT REMARK:
First year – Fees are considered from the date of formation until the 31st December same year
2nd and subsequent years – All annual fees marked above as “/Annual” become due from the 1st January each ear, and are payable until the 31st January

ANNUAL FEES
The Annual Fees are concerned with the following services:
Annual Statutory Fee, which includes:
- the provision of a registered office (*) in the jurisdiction of incorporation, as required; the registered office is not considered as a trading address.
- local incorporation agent – our solicitor we use to provide us all services relating company matters (registered agent facilities);
- filing statutory returns with official departments, required, to be the company active and alive;
- Liaison with the registered office and the registered agent in the jurisdiction of incorporation, attending to the payment of the Annual Government License Fees and other government fees;
Annual Compliance Fee, which includes:
- attending to routine compliance matters (inclusive of periodic file reviews), reviewing official correspondence received and other routine matters incidental to good corporate governance;
- Processing and Return Filing with Internal revenue, Registrar of Companies, and other official departments

SHELF COMPANIES
The offer above relates a ready made company in Madeira Islands with Government License granted by SDM, to provide you all required tax beneficts by Incorporating in Madeira Islands - Free Trade Zone.

In case you may need to discuss any matter related to this Incorporation,
please Contact us.

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