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social security
| Any manager of a company in Madeira, residing or not in Portugal, is obliged to register with the local Social Security as well as contribute to the Portuguese Social Security scheme through 31.25% of the respective salary, subject to a minimum contribution equal to the contribution corresponding to the Portuguese minimum wage. Managers that are not remunerated and prove that they are registered with and contributing to another compulsory social security system are not required to register and contribute to the same end in regard to the Portuguese system. Exemption is obtained in such cases through the submittal of a certificate from the social security office of the manager’s country of residence declaring that the same contributes to the respective compulsory social security scheme (form E 101). |
Companies licensed after 01 January 2001 must possess at least one employee or manager contributing to the Portuguese social security scheme, so as to comply with substantiality requirements. |
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Schemes
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Contribution Rates
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Employer
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Benefeciary
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| General Scheme |
23,75%
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11%
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| Members of Statutory Bodies(1) |
21,25%
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10%
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| Disabled workers |
12,5%
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11%
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| Self-employed persons(2) |
--
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25,4 e 32%
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| Young persons employed for the first time |
Exempt
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11%
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(1) Baseline limit - 12 times the Portuguese minimum wage.
(2) Base - conventional with reference to the Portuguese minimum wage. |
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