SDM – Sociedade de Desenvolvimento da Madeira, S.A.
is responsible, on behalf of the Regional Government of Madeira, for the management, administration and promotion of the International Business Centre of Madeira (IBC). These responsibilities include the construction of the infrastructure in the Industrial Free Trade Zone of Madeira and the promotion of MAR – Madeira’s International Shipping Register. The SDM has been developing its activities in four areas:
• Industrial Free Zone
• Financial Services Centre
• Center for International Services
• International Ship Register
S.D.M. was created in 1984 by public and private investors and has, since the beginning, cooperated with the Regional and National Government on the terms and conditions of the creation and development of the IBCM. In 1987, S.D.M. was granted the public concession of the Free Trade Zone of Madeira or International Business Centre of Madeira, for a period of 30 years.
As part of its responsibilities, S.D.M. receives and issues, in articulation with the Regional Government, the licences for companies to operate within Madeira’s IBC. In addition, it collects the registration and annual licence fees that are due to the Autonomous Region of Madeira by companies licensed and by ships registered. Although these fees are collected by S.D.M., they are in fact public revenue.
Other operational, commercial and regulatory aspects, such as the constant changes in the markets, the permanent international competition for the attraction of foreign investment, the internal guidelines and the directives adopted by the European Union, are also subject to S.D.M.’s full attention, which in full cooperation with the Regional, National and European authorities, seek to efficiently develop Madeira’s IBC and fulfil its objectives as a programme of economic regional development.
At the operational level, S.D.M. works closely with corporate service providers who, in turn, provide all the support foreign investors need in order to adequately set up and manage their companies in Madeira. Recognised service providers, the so-called “Management Companies”, are included in the list provided in the “Supporting Services” section.