Free Trade Zone: Government delay jeopardizes two-thirds of Madeira’s IRC revenue

In a region that is highly dependent on tourism, the International Business Center guarantees diversified investment and specialized employment. Industrial companies, international services and ship registration are worth 12% of all regional tax revenue and employ 3% of Madeirans. Costa left the extension of the tax benefits regime out of the 2022 Portuguese State Budget. And without validation, no new businesses come in.

To complete the International Business Center offer, this also integrates the area of ​​International Services, which has mainly benefited from technology (29% of the more than 100 arrivals in 2021) that install development centers there, opening opportunities for young graduates in places of great added value. This is the case of Connecting Software (and more than 1600 firms), based in Vienna, that in just five years, already has more people working in Funchal than in Austria.

"The objective is to double in the short term, to 40", assures the CEO, Thomas Berndorfer, who, from Madeira, manages innovative software services for more than 1,000 customers and 350,000 users, including the Canadian Department of Justice, New Zealand public organizations or NGOs such as the Red Cross.