The Taxes regarding Property can be listed as the following:

Transfer Tax - flat rate of 3% on the attributed value to be paid before the Deed of purchase and sale.

Holding property/ Annual Rates - flat rate of 3% on 25% of the attributed value to be paid annually in April (or in two instalments in April and September of each year)

The capital gain is taxed at a flat rate of 3% and should be paid within 30 days of the Deed, together with the submission of a "Declaracao de mais valias" (Capital Gains statement).

Inheritance/Gift Tax - Any property transmitted by inheritance or by gift is taxed at a flat rate of 3% on the attributed value.

With our local knowledge, well-established relationships with developers, as well as our legal and translation services, we can help find your dream property with the least amount of stress.

Whether for investment, retirement or holiday home, we have a varied list of properties to choose your perfect property in Europe’s answer to the Caribbean.

Investors

We work with many different types of investors in UK and Ireland, including high-net worth individuals, syndicates, and property investment vehicles offering services ranging from simple transactions through to ongoing consultancy and investment advice.

Because of our well established relationships with developers we can leverage preferable terms for multiple transactions, using our knowledge to give you additional negotiating muscle.

Buyers Guide

Once you have decided to purchase a property in Cape Verde the following are the steps involved:

1. Locate the property you whish to buy.

2. A nominal deposit is paid to secure the property.

3. Check with your legal representative that contracts are in order. A list of reputable lawyers in Cape Verde available if required.

4. Sign Promissory contract of Purchase and Sale (“Contrato Promessa de Compra e Venda”). In Cape Verde, the parties are contractually bound on signature of this Promissory Contract of Purchase and Sale, which sets out the terms of the transaction including:
   • Property details
   • Price
   • Method of payment
   • Completion Date
   • Warranties
   • Penalties etc.

At this stage a deposit of 30% is paid. Until such contract is exchanged the vendor is not committed and can change his mind.

5. Sign the Final Deed of Conveyance called the “Excritura” which has to be done before a Notary in Cape Verde **. This is the document that gives the purchaser proper title to the Property. The deed must be scheduled within a minimum of ’30 days’ notice’.

(** It is possible to purchase property in Cape Verde without having to be present at the Notary by appointing a legal representative power of attorney to represent you in the promissory contract deed and also to request tax cards on your behalf.)

6. Payment of the Property tax called ‘IUP’.

7. Register the purchase at the local Land Registry and local Municipal Authority so that title is enforceable against third parties. In Cape Verde, subsequently to the signature of the Deed, the Notary will prepare and send a report to the local Municipal Authority regarding the transaction. The Municipality will then update its records accordingly and register the new ownership of the property.

8. Notarial and registration fees and stamp duty can be expected to be approximately 2.5% of the property’s attributed value. They are payable on signature of the Deed of Conveyance.