Apresentação do PowerPoint · CORVO •Nossa Senhora dos Milagres festivities. FLORES •Saint John festivities; •Emigrant Festival. GRACIOSA •Holy Ghost festivities; •Santo

Tourism

The Azores Business Development Society designs and implements business development incentive measures aimed atreinforcing Azorean companies’ competitiveness and productivity, and promotes innovation and entrepreneurship.

www.investinazores.com

INDEX

Why Azores?

Tourism Sector

Financial Incentives for Investment

A Z O R E SA Wonderful Place to Invest

Incentives for Job Creation

Tax Benefits


Azores – What do we offer?

• Located between Europe and North America;• Political and Social stability;• One of the safest regions in Europe.

• Unique conditions for tourism;• Abundant water resources;• Potential for diversified agro-food activities;• Excellent communications;• Qualified human resources and good English language

knowledge.

• Attractive incentives for investments;• Financial incentives for job creation;• Advantageous tax benefits.

Geostrategic Location

Friendly Business Environment

Available Resources


• The Portuguese archipelago of the Azores is one of the outermostregions of the European Union, a special status granting specificprivileges.

• The Azores benefits from the common EU market with commoncurrency, free trade agreements, non-tariff barriers and freeinterchange of labor and capital.

• Portuguese is the 5th most spoken language in the world and the mostwidely spoken in the Southern hemisphere.

• It is the official language used by the Community of Portuguese-Speaking Countries (CPLP): Brazil, Angola, Mozambique, Cape Verde,São Tomé and Príncipe, Guinea-Bissau and East Timor.

Market with 500 million people

Market with 250 million people

Why Azores ? Gateway to Broader Markets


PORTS • 9 Ports and 7 marinas.

AIRPORTS • 9 Airports, one in each island.

ROADS• Well-maintained roads connecting cities, towns

and villages.

TRANSMISSION NETWORK

• Network fully supported on fiber-optic technology;

• High availability of bandwidth.

Why Azores ? Existing Infrastructure


• Time zone: minus 1 hour from Mainland Portugal and the United Kingdom, plus 4 hours from the Eastcoast of the United States and plus 3 hours from the East coast of Brazil.

• Flight durations: 2 hours to Lisbon, 3-5 hours to other European capitals and 5-6 hours to the UnitedStates (East coast) and Canada.

• The islands of São Miguel, Terceira, Pico, Faial and Santa Maria provide frequent connections toMainland Portugal, the United States, Canada and several European capitals.


Strategic LocationTourism

Marine TransportAir Transport

The Autonomous Region of the Azores has an integrated transport structure that is characterized by itssafety, reliability and regularity.

Inter-Island Transport


Tourism

The liberalization of the airspace over the islands of São Miguel and Terceira occurred inMarch 2015. In that year, the number of passengers arriving at Azores airports increased by21.2%, compared to 2014.

In 2016, the number of passengers arriving continued to increase by 19.9%, totalizing1,319,489 individuals.

In the first 6 months of 2017, more 19.1% passengers arrived in comparison to thehomologous period of 2016.

The numbers of guests and overnight stays at Tourism Enterprise Units are also increasing:

• 2015 Guests: 428,000 (+23.9%)

• 2015 Overnight stays: 1,274,200 (+19.8%)

• 2016 Guests: 509,000 (+18.9%)

• 2016 Overnight stays: 1,543,600 (+21.1%)

• 2017 Guests in the first 6 months (homologous): 266,035 (+17.3%)

• 2017 Overnight stays in the first 6 months (homologous): 782,425 (+18.3%)


Tourism Tourism Sector Growth

The Lagoa das Sete Cidades – twin lake complex in São Miguel ––and the volcanic landscape of the Pico island were recognized astwo of the 7 Natural Wonders of Portugal in 2007.

National Geographic Traveler selected the Azores as the "mostbeautiful destination in the world" for holidays or business trips in2016.

The Green Destinations classified the Azores as "the mostsustainable tourist destination in Europe" in 2014, landing on theGlobal Top 100 Sustainable Destinations list.

The Coastal & Marine Union (EUCC) nominated the Azores as "thefirst Platinum Quality Coast Destination in the World" in 2014.

The islands of Corvo (2007), Flores (2007) , Graciosa (2009) and the “Fajãs” of São Jorge Island (2016) are part of the UNESCO World Network Biosphere Reserves.

Tourism Awards and Distinctions


• Whale Watching• Trekking• Golf• Water Sports• Diving• Big Game Fishing • Yachting

• Canoeing• Bird Watching• Caving• Hot Springs• Boat trips• Jeep tours

The Azores’ natural characteristics allow a wide range of distinct activities

Unexplored Potential

Tourism Entertainment Activities


Tourism

TERCEIRA

• COFIT – Azores International FolcloreFestival;

• Sanjoaninas festivities;• Praia Festival;• Azores Formula Windsurfing World

Championship;• Angrajazz – International Jazz Festival.

SANTA MARIA

• Maré de Agosto Festival;• International Festival Hang’In Azores;• Saint John festivities.

SÃO MIGUEL

• Senhor Santo Cristo dos Milagresfestivities;

• Monte Verde Festival;• Chicharro Festival;• Red Bull Cliff Diving;• IRC Sata Rallye Azores; • Hot Air Balloons Festival Ribeira Grande

– Feel the Sky; • SATA Airlines Azores Pro 2015;• Paragliding Festival.


Festivities & EventsTourism

FAIAL

• Sea Week;• Les Sables – International Regatta.

PICO

• Cais de Agosto Festival;• Whalers’ Week.

SÃO JORGE

• Velas Cultural Week;• Holy Ghost Festival;• CIMA – Canyoning International Meeting

Azores.


Tourism Festivities & Events

CORVO

• Nossa Senhora dos Milagres festivities.

FLORES

• Saint John festivities;• Emigrant Festival.

GRACIOSA

• Holy Ghost festivities;• Santo Cristo festivities.


Tourism Festivities & Events

• Bullfighting on a rope and in thearena;

• Festivities of the Divine Holy Spirit;• Folklore;• Carnival:

The biggest Amateur Theatrefestival in the world.

• Crafts:Ceramics, embroidery, scrimshaw(made out of the teeth and bonesof sperm whales), weaving,pottery and basketry.

Several different activities have been part of the Azores lifestyle

over the years


TraditionsTourism

• The Wine Advocate awarded “Arinto dos Açores 2014”, “Arinto dos AçoresSur Lies 2014” and “Verdelho O Original 2014” with 92, 92 and 90 points,respectively.

Wine

• “Queijo Bola Ilha Azul” and “Queijo Prato Nova Açores Alho e Salsa” wonthe awards for “Best Flamengo Cheese” and “New Flavours”, respectively,in the 2014 Portuguese Cheese Contest.

• “Queijo de São Jorge”, certified with Protected Designation of Origin(PDO), won Gold and Silver medals in the 2013 National TraditionalCheese Contest.

Cheese

• Azores meat is certified with Protected Geographical Indication (PGI). Itshould be noted that livestock are almost exclusively pasture-fed, whichtranslates into high-quality meat.

Meat

• The Azores are the only region in Europe growing coffee plantations.

• The Azores are the only place in Europe producing tea.

Coffee and Tea

Gastronomy


Tourism

• Golfdigest USA 2014 ranked the FurnasGolf Course as “the second best golfcourse in Portugal”. The Azores haverecognized potential in this sector, stilllargely untapped.

• The Azores currently have three golfcourses located in São Miguel andTerceira, complemented by qualitytourism services.


GolfTourism

The Azores offer huge potential in the areas of health and wellness tourism, particularly asregards the promotion, prevention and maintenance of health, as well as rest and leisure.

Investments in these areas could include:

• Specialist clinics

• Spas

• Hot-spring resorts

Health & Wellness


Tourism

Taking advantage of these environmental resources, involves:

• Exploiting the characteristics of the waters for thermal use;

• Remodeling existing facilities and building new ones as well ashotel units of excellence;

• Implementing services that complement the thermal offer.

Thermal intervention project goals include the spas located on theIslands of São Miguel (Ferraria, Caldeiras da Ribeira Grande andFurnas), Graciosa (Carapacho) and Faial (Varadouro).

The current System of Incentives for Business Competitivenesssubsidizes:

• The purchase of land for thermal activities, up to amaximum of 30% of the eligible costs of the project;

• The acquisition of run-down buildings for the establishmentof tourist accommodation facilities with thermal resources,up to a maximum of 30% of the eligible investment of theproject.

Hot Springs


Tourism

Mild climate, nature, culture and seaIn addition to being a peaceful region, with political and economic stability, the Azores are internationally

recognized for the incredible landscape and the cultural and historical richness.The Azores have a maritime climate with moderate temperatures ranging between 16° C (60° F) in winter and 26°

C (79° F) in summer.

GASTRONOMY & WINES

SUN & SEA NATURE

CULTURE & TRADITIONSGOLF

www.livinginazores.com

Tourism Life Quality


Access to Medical Care

The region has high-quality healthcare facilities:

• The provision of public healthcare services in the Azores falls under the purview of the Regional Health System. The hospital network is comprised of three modern and well-equipped hospitals strategically distributed throughout the region. In addition to these public services, there are independent private practices.

• There are Emergency Medical Services to ensure the provision of first aid and emergency care for victims of accidents and sudden illness.

• Citizens from the other 27 European Union member countries, as well as Iceland, Liechtenstein, Norway and Switzerland, have free access (or with moderate costs) to all these healthcare services.


Tourism Life Quality


Friendly Business Environment

Attractive Incentives for Investment

• The most competitive in the EU

Incentives for Employment

• Various application methods

Tax Benefits

• Focus on production and

consumption

System of Incentives for Business Competit iveness

Nonexistent financial

incentives for investment

*

*

Maximum amount of financial incentives for investment

AzoresPortugal

Mainland

Micro and small enterprises

65% 45%

Medium enterprises 55% 35%

Large enterprises 45% 25%

*


Investment projects for the production of goods and services for placement on marketsoutside the region, developed in the following areas:

• Agro-food and Forest sectors; Industry; Tourism; Hostels; Logistics; Web Economy;Specialized Consulting; Waste collection, treatment and disposal; Materials Recovery;Collection, Drainage and Treatment of Sewage; Call Centers; Hospital activities; Touroperator activities; Thermal activities.

Dependent on the location of the investment, the economic performance of the projectand the size of the enterprise.

Non-refundable – from 30% up to 65% of the total eligible costs.

Refundable – 25% (can be partly or completely turned into non-refundable incentive).

Maximum amount of incentive: €5M non-refundable incentive + €5M refundable incentive..

http://www.azores.gov.pt/Portal/en/entidades/vp-draic/?lang=en(More info at: http://www.investinazores.com/index.php?op=textos&codtexto=58).

Scope

Financial Incentive

Entity in Charge

S u b sy s te m o f I n c e nt i v e s fo r P r o m o t i o n o f t h e E c o n o m i c E x p o r t B a s e

Why Azores ? Financial Incentives


http://www.azores.gov.pt/Portal/en/entidades/vp-draic/?lang=en

http://www.investinazores.com/index.php?op=textos&codtexto=58

Investments from €15M up to €50M, that create more than 100 new jobs.

Investment projects for the production of goods and services for placement on marketsoutside the region, developed in the following areas:

• Agro-food and Forest sectors; Industry; Tourism; Hostels; Logistics; Web Economy;Specialized Consulting; Waste collection, treatment and disposal; Materials Recovery;Collection, Drainage and Treatment of Sewage; Call Centers; Hospital activities; Touroperator activities; Thermal activities.

Non-refundable - 45% of the total eligible costs.

Without maximum incentive amount.


Scope

Financial

Incentive

Entity in Charge

Variant for Big Investment Projects

S u b sy s te m o f I n c e nt i v e s fo r P r o m o t i o n o f t h e E c o n o m i c E x p o r t B a s e





This Subsystem aims to strengthen intraregional trade and the external competitiveness of

Azorean enterprises in the global market.

It enables the development of Internationalization projects in the following areas:

- Prospection of Foreign Markets

- Commercialization & Marketing

- Digital Economy

In addition, it includes financial incentives for the transport of Azores products and business

cooperation actions between enterprises and other entities.



S u b sy s te m o f I n c e nt i v e s fo r I nte r n a t i o n a l i za t i o n

InternationalizationActions for overseas market entry, as well as for business promotion, facilitation and creationof knowledge and disclosure of information, directly contributing to the production anddevelopment of transactional goods and services in the following areas:

a) Market Prospectionb) Commercialization and Marketingc) Digital Economy

Non-refundable - 50% for small enterprises, 40% for medium enterprises and 30% for largeenterprises.

Bonuses and increments:• 2,5% to 10% dependent on the Turnover and International Turnover variation of the

project.• 5% if “Azores brand” products are included.


Scope

Financial Incentive

Entity in Charge






Market Access

Aid for costs related to the transport of regional products both within the region andoverseas with a view to compensate for the additional costs resulting from the specificcondition of the Azores as outermost region.

Non-refundable - 90% with a limit of €400,000 for three consecutive years and €200,000 peryear.


Scope

Financial Incentive

Entity in Charge






Business Cooperation ActionsAid for cooperation between enterprises and other entities with a view to create jointsupport services for overseas market entry projects, namely as regards knowledge of foreignmarkets and the dissemination of business and investment opportunities.

Non-refundable - 50% for small enterprises, 40% for medium enterprises and 30% for largeenterprises.Bonuses and increments:• 2,5% to 10% dependent on the Turnover and International Turnover variation of the

project.• 5% if “Azores brand” products are included.• 10% only for Business Cooperation projects coordinated by medium-sized or large

enterprises involving the islands of Santa Maria, Graciosa, São Jorge, Pico, Faial, Flores andCorvo.


Scope

Financial Incentive

Entity in Charge






Companies can benefit from partial exemption or total exemption from paying the applicable Social Securitycontributions, for a maximum period of 5 years, when signing open-ended employment contracts with youngindividuals seeking their first job, long-term unemployed individuals or convicts in an open prison scheme.

TEMPORARY EXEMPTION FROM PAYING SOCIAL SECURITY CONTRIBUTIONS

INTEGRA - Financial incentive for hiring unemployed individuals registered at Agencies forQualification and Employment in the Azores for more than 90 consecutive days.

Employers providing full-time employment contracts under the INTEGRA program receive a monthly grant foreach job created, up to a maximum of 12 months, in the following terms:

• €350 monthly, if the job is filled by an employee who has been unemployed for less than 1 year;

• €450 monthly, if the job is filled by an employee who has been unemployed for more than 1 year.

Note:

• Whenever companies hire unemployed individuals older than 50 years, the above-mentioned grants areincreased by 20%.

Why Azores ? Incentives for Job Creation


Young NEET individual: young person who is neither working nor studying or attending any training.

Employers providing full-time employment contracts under the INTEGRA YOUTH program receive a monthlygrant for each job created, up to a maximum of 12 months, in the following terms:

• €420 monthly, if the job is filled by an employee qualified with level 1 and 2 of the National QualificationsFramework ( NQF );

• €450 monthly, if the job is filled by an employee qualified with level 3,4 and 5 of the NQF;

• €550 monthly, if the job is filled by an employee qualified with level 6,7 and 8 of the NQF.

Notes:

• Whenever companies hire young unemployed individuals registered at the Agencies for Qualification andEmployment in the Azores for more than one year, the above-mentioned grants are increased by 10%;

• The minimum monthly gross salary assigned to employees supported by INTEGRA YOUTH, withqualifications higher than QNQ level 6, is €700.

INTEGRA JOVEM - financial incentive for hiring unemployed young NEET individuals, 29 years old oryounger, registered at Agencies for Qualification and Employment in the Azores for more than 90consecutive days.



ESTAGIAR L – traineeships aimed at young graduates or Master students:o In São Miguel Island - initial duration of nine months and can be extended for another nine months,

including a one-month rest period to be taken between the 12th and the 15th month.

o In the remaining islands - initial duration of eleven months and can be extended for another twelvemonths, including a one-month rest period to be taken between the 12th and the 15th month.

o €720 (gross amount) monthly pecuniary compensation is granted to trainees of the ESTAGIAR Lprogram, totally funded by the Regional Employment Fund during the initial duration. In the extendedperiod, including the one-month rest period, companies pay 25% of the compensations.

ESTAGIAR T – traineeships aimed at young higher education graduates who do not hold a first degree, buthave completed a technological or professional course or study program conferring a level 3 professionalqualification certificate and Grade 12 secondary school equivalency:

o All islands - initial duration of nine months and can be extended for another nine months, including aone-month rest period to be taken between the 12th and the 15th month.

o €530,25 (gross amount) monthly pecuniary compensation is granted to trainees of the ESTAGIAR Tprogram, totally funded by the Regional Employment Fund during the initial duration. In the extendedperiod, including the one-month rest period, companies pay 25% of the compensations.

ESTAGIAR PROGRAMME – Financial support programme for internships in companies.



Furthermore, trainees from ESTAGIAR L and T programmes who have completed their traineeship in a differentcompany, regional service or local public administration can be hired, provided recruitment takes place afterthe end of the traineeship period and in the respective field of study.

Subsidies are granted for each hired trainee, up to a maximum of 12 months, in the following terms:• For hiring trainees within the scope of the Estagiar L programme – €550 per month

• For hiring trainees within the scope of the Estagiar T programme – €450 per month

Notes:

• If the company hires a trainee in the first 30 days after the traineeship period, the above-mentioned grantsare increased by 10%;

• The minimum monthly gross salary assigned to trainees from ESTAGIAR L traineeships is €700;

• The minimum monthly gross salary assigned to trainees from ESTAGIAR T traineeships is the same amount asthe regional minimum wage (€530.25).

INTEGRATION INCENTIVE PROGRAM FOR ESTAGIAR L and T (PIIE) - Financial incentive tocompanies that sign full-time contracts with trainees from ESTAGIAR L and T programmes.



The Autonomous Region of the Azores has an advantageous tax differential of 20% in comparison to the rest ofPortugal, in terms of Corporate Income Tax (CIT), Personal Income Tax (PIT) and Value Added Tax (VAT). TheRegion also benefits from the 8th lowest CIT rate in the European Union and the 2nd lowest VAT rate.

Fonte: World Bank


9% 10%12,5% 12,5%

15% 15% 16% 16,8%19% 19% 19% 19% 20% 20% 20% 21% 21% 22% 22% 22%

25% 25% 25%

27,90%29% 29,22% 30%

33,30% 34% 35%

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Corporate Income Tax Rates in the European Union(Normal Rate)

Why Azores ? Tax Differential

In parallel, the Autonomous Region of the Azores has lower VAT rates than mainland Portugal and theAutonomous Region of Madeira.

Fonte: Autoridade Tributário Portuguesa



17%18% 18%

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Value Added Tax Rates in the European Union (Normal Rate)

Personal Income per year

Portuguese Mainland tax

rates

Azores tax rates

Less than 7 000€ 14.5% 10.15%

From 7 000€to 20 000€

28.5% 21.375%

From 20 000€to 40 000€

37% 29.6%

From 40 000€ to 80 000€

45% 36%

More than 80 000€ 48% 38.4%

Progressive rates:

• The first echelon is 30% lower than in Mainland Portugaland Madeira

• The second echelon is 25% lower than in MainlandPortugal and Madeira

• All other echelons are 20% lower than in MainlandPortugal and Madeira

Personal Income Tax (IRS)

Tax Regime for Non-Habitual Residents:

• Non-habitual residents are taxed for 10 consecutive years at a fixed PIT rate of 16% (20% lower than MainlandPortugal and Madeira).

• Pensioners and retired individuals with incomes from dependent and independent work are exempt fromPersonal Income Taxation, provided that they are taxed in the source State, in accordance with the doubletaxation convention between Portugal and this State.

• If there is no such convention, income is taxed in the source State, as long as it is not obtained in thePortuguese territory, according to the Personal Income Tax Legislation.

Tax Regime for Non-Habitual Residents



Why Azores ? Tax Benefits Under Contract Regime

Tax benefits may be granted to investment projects recognized as strategically relevant according to specificcriteria and representing more than:

• 2 Million € in São Miguel island;

• 1 Million € in Terceira island;

• 0.4 Million € in Santa Maria, Graciosa, São Jorge, Pico, Faial, Flores and Corvo islands;

• 0.2 Million € in case of investment projects in Marine Biotechnology and/or Aquaculture, regardless of theirlocation, with more than 10% investment expenses on R&D.

Tax benefits may take the following forms:

• Up to 90% Portuguese Corporate Income Tax (IRC) deductions of the amount representing 30% of the actualeligible investment expenditure incurred in the project (80% for the island of Terceira for investments madeuntil 31 December 2019).

• Exemptions or reductions in Portuguese Property Tax (IMI) for a period of 10 years, relating to real estateproperty used by the promoter in activities developed within the scope of the project.

• Exemptions or reductions in at least 75% of Portuguese Property Transfer Tax (IMT), relating to real estateproperty acquired by the promoter to develop activities within the scope of the project.


This program provides an unique opportunity to obtain a Portuguese Residence Permit, and to access the manyadvantages inherent to such status, provided one of the following activities is performed in Portugal, either as anindividual or as a company, for a minimum of five years:

• Capital transfer of an amount equal or superior to €1 000 000 (including acquiring or investing in companies);

• Capital transfer of an amount equal or superior to €350 000 applied in scientific research activities;

• Capital transfer of an amount equal or superior to €250 000, applied in investments or support to the artisticproduction, recovery or maintenance of the national cultural patrimony;

• Capital transfer of an amount equal or superior to €500 000, applied in the acquisition of participation units ininvestment funds or venture capital designed to capitalize small and medium-sized companies;

• Creation of at least 10 jobs;

• Acquiring real estate with value equal or superior to €500 000;

• At least €350 000 expenses in the acquisition of real estate whose construction was concluded at least 30 years ago,or located in urban rehabilitation areas, and rehabilitation costs.

According to the executive summary of the Global Residence and Citizenship Programs 2015Ranking developed by Henley & Partners, "Portugal has the best Golden Visa programme in theworld".

Why Azores ? Golden Visa


Mission

SDEA – Azores Business Development Society

Design and execute business incentive measures, aimed to reinforce theAzorean companies’ competitiveness, as well as to promote innovation andentrepreneurship.

Main Assignments of SDEA

• Promotion of the Region’s economic potential;

• Attraction of foreign investment;

• Promotion of the regional products and the endogenous resources;

• Design of investment incentives and tax benefits policy;

• Development of financial instruments for business support;

• Promotion of entrepreneurship and innovation.


SDEA promotes direct contact withcompanies, recommending whichincentives can be applied to eachproject in order to define a completepackage that fully satisfies theinvestor’s needs.

SDEA proposes and promotesmeasures to reducecontextual costs with a viewto simplify and streamlineinvestment processes.

SDEA supports investors andmonitors the progress oftheir projects.

SDEA supportWhy Azores?Why Azores ? SDEA support


São Miguel Island: Rua Dr. José Bruno Tavares Carreiro, 6, 6.º9500-119 PONTA DELGADAAçores – PortugalTel: (351) 296 309 100Fax: (351) 296 288 492

Terceira Island: Rua Direita, 52, 2º 9700-066 ANGRA DO HEROÍSMO Açores – Portugal Tel: (351) 295 217 664

[email protected] www.investinazores.comwww.facebook.com/SDEA.EPER

DisclaimerThis document is for information purposes only. It partially reflects butdoes not disclose completely nor substitute the knowledge of the fulllegislation governing incentives in Portugal. SDEA is available to assessspecific business plans and to determine how specific investments mayqualify for incentives packages and what, if any, type of packages may beapplicable to the investment.


Documents

Apresentação do PowerPoint · CORVO •Nossa Senhora dos Milagres festivities. FLORES •Saint John festivities; •Emigrant Festival. GRACIOSA •Holy Ghost festivities; •Santo