According to Cape Verde Citizenship Act 2003, a person who makes a sizable investment in Cape Verde may be granted citizenship without the residency requirement. Cape Verde also offers residency through real estate investment.
Citizenship for Investor:
Acquisition of Citizenship can be:
Residency for Investor:
There are two types of residency permits – permanent and temporary. The permanent one is not often issued now and even if it is, it still has to be renewed every five years. The temporary one has to renew every 12 months.
Benefits of Foreign investors who set up their company in Cape Verde
Permanent Residency requirements:
– Completed application form (available at police stations).
– Document showing proof of financial stability (a bank statement from a bank in Cape Verde or the Boletim Official of your own company in Cape Verde usually suffices).
– Certificate from the city hall stating that the applicant has been living in the respective municipality for at least 6 months.
– Disclosure certificate from the country of origin (people with a criminal record are rejected), translated and notarised by the consulate. (= certificate of authenticity of the document and the correctness of the translation).
– Disclosure certificate from Cape Verde, 2 documents:
One from the Public Order Police (POP) and one from the Judicial Police (Policia Judiciaria)
– Health certificate of the health department in Cape Verde: vaccination records are issued or presented here.
– Rental agreement (with certification stamp from the tax office and notarization by a notary public or Registo Civil) or proof of property ownership on Cape Verde.
– Copy of passport that is complete with all pages. A Visa stamp with the entry “Permanente” must be present, meaning more than 6 months of uninterrupted residence. Tourist visa stamps are not valid.
– Two current passport pictures
The official procedure of issuing a Residencia, which means the processing of all submitted documents, can take up to two years. Although you can already incorporate your company during the process, for example, its operation is hardly worthwhile due to high import and export taxes. A special import license is required to enjoy lower tax rates, which again is dependent on Residencia.
Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:
Privacy World can also help you with incorporating your company in Cape Verde, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.
Want Privacy World to handle your case? Have any questions? Contact us!
Yes. Dual citizenship is allowed in Cape Verde since 1992.
The validity of the Permanent Residence in Cape Verde is 5 years. Renewable
A person who spends more than 183 days in aggregate in Cabo Verde during a calendar year is deemed to be a resident of Cabo Verde.
The duration of the visa in Cape Verde is from 30 to a maximum of 90 legal days.
Cabo Verdean tax resident individuals are subject to PIT on a worldwide basis (i.e. resident individuals are subject to tax on all income, regardless of whether it is earned within the Cabo Verdean territory or overseas).
Non-resident individuals are subject to PIT only on Cabo Verdean-source income at flat tax rates that are the same as those applicable for resident taxpayers.
Yes. Family and children can also get citizenship.
It takes 5 years of permanent residency before you can apply for citizenship in the country.
The applicant must be living in the municipality for 6 months before he can apply for permanent residency in the country.
Yes. You can bring your dependent with you to the country.
A temporary residency has a validity of 12 months and renewable every year.