MADEIRA’S INTERNATIONAL BUSINESS CENTRE REGIME EXTENDED

Portugal’s State aid scheme for Madeira was scheduled to finish at the end of 2013. This meant that companies incorporated after 2013 would no longer qualify for the island’s International Business Centre (IBC). However, following the European Commission’s decision to extend the authorization, companies incorporated in Madeira until June 30, 2014 can still obtain a license to operate in the IBC.