AZORES: A UNIQUE PLACE TO INVEST
The Azores Archipelago is geographically and strategically positioned, being in the middle of two continents, the American and the European. It represents the first point of entry into Europe for those coming from countries in the American continent, such as the United States, Canada or Brazil. It is located on the Lisbon-New York axis.
The Azores benefits from a unique tax regime, offering one of the most attractive tax regimes and investment incentives in the world, having the 2nd lowest VAT in the Euro zone and has one of the lowest taxes for companies in the world 8,75%, with the lowest tax burden in Portugal and one of the lowest in Europe. It is an archipelago consisting of 9 islands, which are divided into three groups. Geographically they are located along a 600 kilometer long facade, with the islands scattered in the middle of the Atlantic Ocean.
It stands out for its favorable environment for international business, with a system of investment and economic incentives that is one of the most attractive in the European Union. It benefits from its own European funds, as an outermost European region, many of which are non-refundable. It has exceptional support measures for employment and hiring, almost unique in Europe, able to guarantee a very relevant incentive to investors and entrepreneurs who want to invest and open a business in the Azores. It is possible, for example, to relocate companies relatively easily and quickly, or to incorporate them, which is an advantage to be added to the fact that it has one of the lowest corporate taxes in the European Union (IRC), leading to the possibility of also obtaining unique tax benefits.
Curiously, it is the sea of the Azores that makes Portugal one of the countries with the largest maritime platform in the world, with the Azores Archipelago representing about 30% of the sea of the entire European Exclusive Economic Zone. The Azores EEZ is 200 nautical miles from the coast and has an area of about 1,000,000 km2 of sea. The Azores is a region that covers about half of the European coastline and two of the most productive seas in the world: the North Sea and the Northeast Atlantic. It is a territory with unique characteristics, being currently, for example, the only place in Europe where tea and tobacco are produced, besides being one of the largest producers of pineapple. It is the second largest producer in Europe of Prostates. It has a significant dairy industry, producing about 50% of the national cheese. It also has an important presence in the fish canning industry, with special reference to tuna. In the area of cattle breeding it presents a premium quality, since it has a natural pasture that makes meat from the Azores one of the most internationally recognized. Currently the islands also have a prominent position worldwide, with the ongoing development of international projects in modern and relevant areas, such as aerospace and aeronautics.
As emerging activities, we can also highlight Organic Agriculture, Aquaculture, Blue Biotechnology, Renewable Energies (wind, maritime, solar), Seabed and Sea Exploration, sustainable exploitation of forests and green spaces, the dynamization of leisure spaces and new centers of interest and tourist attraction, the creation of science and technology hubs, as well as the attraction of new poles and retail, distribution, and transformation companies.