Madeira makes the most of both its separation and links with Portugal.
Like so many of its European neighbors in the offshore finance world, Madeira has become increasingly focused on financial services as its traditional industries have declined. Just as in Jersey and Guernsey, a few hundred miles to the north, Madeira's economy was first dominated by agricultural, later by tourism, and in the wake of the financial crisis has stepped up its efforts to market itself as a low tax jurisdiction.
Not that offshore finance is a particularly new industry to the island, one of two autonomous regions of Portugal....
