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Madeira Weekly

1,000 Euros Deduction on IRS to Encourage Citizens to Buy Efficient Sustainable Goods

According to the preliminary 2020 State Budget proposal, the mainland government wants to create a deduction of up to €1,000 in IRS to enable householders to purchase environmentally friendly household appliances and energy-efficient heating systems.

Usucapio – Adverse Possession or “Squatter’s rights”

Usucapio (adverse possession), from the Latin usucapio: “to acquire by use”, is a form of acquisition of the property rights in function of having used or occupied a property continuously and unquestionably as if the holder were the real owner. In English Common Law, the equivalent of usucapio is commonly…

Brexit to cut 100,000 British Holidaymakers to Portugal

In all, Brexit is set to cancel eight million tourists travelling in 2021. In Spain alone, there should be 1.3 million fewer UK nationals travelling according to projections of the European Travel Commission. Without a Brexit agreement, British travel should fall by 7% by 2020 and 8% the following year.…

Portugal continues to block assessment of multinationals in the EU

The directive on sharing tax information of multinational corporations has been stalled for the last two years in the European Council. Portugal forms part of a group of member states holding up passage of this EU ruling. The stance contradicts what the government defends in its political programme. The position…

Golden Visas: Portugal has Europe’s second most attractive regime

Only Greece and Latvia have more advantageous Golden Visa schemes than Portugal, requiring an investment of just €250,000 for foreigners wishing to settle in their territories. Portugal has maintained the €500,000 threshold since the creation of the programme in 2012, which is technically referred to as “The Residence Permit for…

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