CAPE VERDE

Full Name: Republic of Cape Verde
Capital City: Praia
Area: 4,030 sq km / 1,556 sq miles
Population: 401,343
Time Zone: GMT/UTC -1 ()
Languages: Portuguese (official)
Religion: Roman Catholic (infused with indigenous beliefs), Protestant
Currency: Escudo Caboverdiano (CVEsc)
Country Dialing Code: 238

Why Invest In Cape Verde Property?

• The Cape Verde Islands are very attractive for holiday makers, property investors and businesses alike, here a just some of the reasons why.
• Developing country - This new and quickly developing country, keen to attract foreign development, holds a wealth of incentives for investors.
• Tourist Development - The government has earmarked 4 islands for tourist development - Sal, Boa Vista, Santiago and Maio, and major developments such as the new Vila Verde, Sambala Village, Djedsal Moradias and Santiago Golf Resort are all proving extremely popular with British property investors.
• Inexpensive place to buy a property – Cape Verde remains much cheaper than many Mediterranean places, Prices in Cape Verde start from just 43,000 euros for apartments less than a 5 minute walk to a lovely white sandy beach.
• Improving access for UK - Direct flights from Gatwick and Manchester to Sal from November 2006 from £329. No jet lag since Cape Verde is GMT minus 1 hour.
  Capital growth is set to rise significantly – the tourism and infrastructure developments mean the Cape Verde islands will become increasingly popular with holiday makers and investors.
• Excellent rental income - the perfect all year climate with virtually no rainfall will allow for year long holiday rentals.
  Picturesque environment - Add to that the beautiful white sandy beaches, clear turquoise warm water, breathtaking mountains, social and political stability and negligible crime, Cape Verde presents a new and exciting country for investment.
• Fantastic holiday destination - Surf, windsurf, kitesurf and sail, bird watch and dive, fish for marlin and tuna, golf on some of the superb new courses being built, feast and frolic, or just unwind and chill out. Whatever your pleasure, you’ll find it in Cape Verde.
• Climate and culture - Bathed in a tropical, dry climate with year-long average temperatures of 25C, with its heady cultural flavour of Portuguese, Brazilian, African and Latino, dancing to the rhythms of multi-cultural layers, feasting on the unusual and delicious cuisine unique to the islands leaves no doubt that Cape Verde is poised to burst out onto our favourite list of places to visit around the world.
• Political Stability – A functioning parliamentary political system ( a system of free elections allows for the smooth transfer of power from one party to another); Absence of any ethnic or religious conflict; absence of any political violence.
• Privileged Geographical Location – Midway between North America and Southern Africa; Halfway between South America and Central Europe; Regular International flights, including several direct flights, connect the country to the outside world.
• Efficient telecommunications – Direct dial to most of the countries in the world, with modern basic telecommunication network; provide new communication services, such as mobile phone, pager, videotext, and video conference; Establishment of teleport services to take advantage of the country’s great potential in the regional and international markets as a provider of flexible and competitive teleport services.
• Market Access – Provides exporters with preferential access to more than 500 million consumers in Europe, the United states, and West Africa via: The Lone Convention; The US
• Generalized Systems of Preferences; ECOWAS (Economic Community of West African States); AGOA (The African Growth & Opportunity Act).
• Work Force Availability – High availability of unskilled works: 30 to 40% of the active population; Low wage rates; easily trainable work force (3 to 6 months); Productivity level after training is comparable to that of Portugal.
• Fiscal Incentives – Exemption from corporate and complementary taxes on profits for 10 years, starting from the date operation begins, afterwards the maximum tax rate imposed will be 15%; Tax holiday on dividends and profits paid to shareholders for 10 years from the date operation begins; Life exemption from indirect taxes.
• Customs Incentives – Duty-free imports of equipment and material used in production; Duty-free imports of raw materials and finished and semi-finished goods used exclusively in production; streamlined customs procedures, customs duties deducted in cases where imported materials are purchased locally.