IBCM meaning in Business ?

Answer:

What is International Business Centre of Madeira mean?

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 in 1986, and amended throughout the years by the Portuguese government to favor the Autonomous Region of Madeira. Its objectives are to attract foreign investment to the region and internationalise Portuguese companies by allowing them to benefit one of the lowest corporate taxation rates in Europe and in the OECD member countries.

Since 1987, the MIBC has been managed and promoted by a private company, Sociedade de Desenvolvimento da Madeira S.A. (SDM), in which the Regional Government of Madeira currently holds of 48,86% the shares. The other main shareholder is Pestana Group, holding 51,14% of the shares. As of January 2020, the Vice-Presidency of the Madeira Regional Government announced its intention of acquiring 51% of the shares of SDM.

The International Shipping Registry of Madeira (locally known as MAR or RIN-MAR), created by the Portuguese government to develop its blue economy, is associated strongly with the MIBC. As one of Europe's largest ship and yacht registries, MAR accepts the registration of all types of commercial vehicles. In 2016, MAR had a total of 516 registered vessels. The registry offers benefits to shipping companies and ships, oil rigs and yachts, including a mortgage system and access to European continental and island cabotage.

reference

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International Bathymetric Chart of the Mediterranean	International
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