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The International Business Center of Madeira (IBCM) or Madeira International Business Centre (MIBC), formally known as the Madeira Free Trade Zone, is a set of tax benefits authorised by Decree-Law 500/80 in 1980, legislated [1] [2] in 1986, and amended throughout the years by the Portuguese government to favor the Autonomous Region of Madeira.
The scheme began in 2012. [8] [9] By 2024, the country has received 7.3 billion euros of funds through the program.[10]In August 2019, according to SEF, Chinese investment in Portugal under the scheme was down during the first eight months of 2019, a decrease of 15.7 percent from the same period of 2018.
Quinta Vigia serves as the seat of the Presidency of the Government of the Autonomous Region of Madeira. In the historic centre of Funchal, next to the Cathedral, stands the Building of the Regional Government of Madeira. This property was erected in the 17th century to house the Santa Casa da Misericórdia do Funchal and its hospital, having ...
Madeira was also the host of the 2003 World Handball Championship. The Rally Vinho da Madeira is a rally race held annually since 1959, considered one of the biggest sporting events on the island [147] It was part of the European Rally Championship from 1979 to 2012 and the Intercontinental Rally Challenge from 2006 to 2010.
Funchal Baptist Church was established in Madeira in 1976. It is located at Rua Silvestre Quintino de Freitas, and provides English services in the morning and Portuguese in the evening. The Church of Jesus Christ of Latter-day Saints was established on Madeira in 1983.
The Legislative Assembly of Madeira (Portuguese: Assembleia Legislativa da Madeira) is the legislature of the Portuguese autonomous region of Madeira. The last regional election was held on 26 May 2024, won by the Social Democratic Party (PSD) with 49,104 votes (36.13% share).
The Via Rápida 1 or VR1 (Fast Road 1 in English) is the first motorway in Madeira. Since April 2017, there is another motorway in the island called VR2. Construction started in 1989 [1] completed in 2005. [2] With 44 km it goes from Ribeira Brava to Porto do Caniçal, providing a fast connection between Funchal and the Madeira International ...
The President of the Regional Government of Madeira is the head of the devolved government of the Madeira archipelago, since the Carnation Revolution that established the current democratic regime in Portugal and granted political autonomy to the Portuguese islands.