At the end of 2020, the Portuguese Government proposed to Parliament an extension of the Madeira Free Trade Zone regime, foreseen in the Portuguese Tax Benefits’ Code. This extension, along with other amendments to the regime, was approved on April 20th, 2021.

This new Law - Law no. 21 / 2021, of April 20th - extended the Madeira Free Trade Zone regime until December 31, 2021.

In addition to extending the deadline for accessing to the regime, changes were also made to address some concerns raised by the European Commission, particularly regarding the creation and maintenance of jobs.