How to register a company in Cape Verde

How to register a company in "Cape Verde", the country of islands? A country with high and safe economic growth

Cape Verde is an island nation consisting of 10 volcanic islands in the Central Atlantic Ocean. These islands are located at a distance of 570 km from the West African region and have an area of slightly more than 4000 square kilometers. The capital of Cape Verde is the city of Praia located on Santiago Island. The area of the Cape Verde is 4,033 square kilometers and its population is more than 550,500 people. Sometimes this country is called Cape Verde or Cape Verde in Persian.

Cape Verde has always been a stable country with a high rank in democracy. The ruling system of the country is a multi-party republic with a legislative assembly. The president and 72 members of the National Assembly are elected by the people for a five-year term, and the leader of the majority party assumes the executive position of prime minister. They use escudo as their currency with a component unit (centavo).

Company registration in the country of Cape Verde

Cape Verde is considered an ideal country to start many businesses because it provides many advantages for domestic and foreign investors. The economy of this country has been growing rapidly in recent years. Company registration procedures in Cape Verde are also fast and affordable. It offers investors a stable environment that is free from religious, ethnic or political conflicts. Its location is strategic because it is located midway between South America and Central Europe, as well as between North America and South Africa. This country has access to the markets of EU countries, USA and Canada, etc. Transportation in this country is well developed with several international airports and seaports. Information and communication technology systems are very efficient. Sufficient water and electricity facilities are also available to commercial organizations. In addition to providing various tax benefits, the government also provides incentives for certain industries. The tourism sector, as well as companies that produce goods here and export abroad, greatly encourages investment.

Benefits of registering a company in Cape Verde

This country has many competitive advantages for foreign investors: Strategically close to Europe and on the flight path from the Americas, 70% of the workforce is educated and highly motivated, and the professional workforce in this country has degrees from foreign universities. The climate in the Cape Verde Republic is mild and the crime rate is very low. Cape Verde’s waters are rich in under-exploited fisheries and marine resources and offer great potential for investment in the fishing industry.

1- You protect assets and can also protect your rights.

2- Government policies are non-discriminatory.

3- You can open a bank account in your company name.

4- Since you are a legal organization, customers will trust you more.

5- You can hire foreign workers.

6- Refund of interest is allowed.

7- Low company tax for five years.

8- You can freely export the manufactured goods.

9- For export companies, there is a tax exemption for raw materials and finished and unfinished goods.

Ways to immigrate to Cape Verde:

Work migration to Cape Verde

Immigration to Cape Verde via companion

Educational migration to Cape Verde

Immigration to Cape Verde through asylum

Immigration by birth and marriage to Cape Verde

Immigration to Cape Verde by investment

Company registration in Cape Verde by the Iran and Africa Business Club

Reasons for company registration in Cape Verde

1- Suitable tension for starting the industry with sufficient water and electricity

2- Provision of customs exemptions for importing goods, equipment and materials as described

3- Tax exemption for companies on the income of new industrial units for 3 years

4- Freedom to export manufactured goods

5- Deduction of corporate tax on reinvestment profits.

6- Suitable market for investment in tourism

7- Customs exemption for importing building materials and setting up hotels and tourism facilities.

8- Corporate tax exemption: 100% exemption for the first 5 years and 50% for the next 10 years.

9- Deduction of tax rate on reinvestment profit in similar activities;

10 -Deduction of tax rate on taxable expenses related to the training of local workers

Procedures for company registration in Cape Verde

Company registration in Cape Verde includes several steps before and after registration. An investor who starts a company here must follow these steps:

1- Choosing a name (company)

2- Choosing a social contract

3- Share capital

4- Announcement of the start of activity

5- Registration / optional services

6- Articles of Association

7- Start-up or integration costs

8- Communications

9- Publishing in the official journal

10 -Presentation of the company’s activity file

First you need to search and book the company name. This is done at the commercial registry office, which has the right to approve or reject the selected titles. Then, you should get a certificate that shows that no other company has the same name.

Get an original trade association register and bylaws compiled by trade partners.

The initial capital must be deposited in the bank and a certificate of deposit must also be presented.

Company registration in the Commercial Registry (Casa do Cidadao). Publish the bylaws of the business start-up agreement in the official gazette

The registration announcement is published on the website of this department. Then, you can get a Tax Identification Number (TIN) which is automatically generated

To start a business activity, you need to get a municipal permit as well as an activity permit after an inspection request.

Types of companies in Cape Verde

Society of shareholders
Joint partnership
Anonymous association or limited company
Limited company (special shares)
Cooperative society

The economy of Cape Verde

Cape Verde’s economy is a service-oriented economy focused on trade, transportation and public services. Cape Verde is a small archipelago country, agriculture is difficult due to the lack of rain and is limited to only four islands for most of the year. Cape Verde’s economy has grown steadily since the late 1990s and is now officially considered a medium-developed country, the second African country to achieve such growth after Botswana in 1994. Cape Verde has always had a significant cooperation with Portugal. These economic ties made it link its currency (Cape Verdean Escudo) first to the Portuguese Escudo and in 1999 to the Euro. The government of Cape Verde set the main development priorities as promoting a market economy and the private sector. The development of tourism, small manufacturing industries and fisheries, the development of transportation facilities, communication and energy are considered among the priorities of this country.

Some of the types of economy with advantages in keyboard are

1- Mining industries

2- Transportation

3- Shipbuilding

In conclusion

For more information, you can contact the legal unit of the Iran and Africa Business Club every day and consult with our experienced lawyers. You can also fill out our legal consultation request form and through that our consultants will check all your conditions and contact you and inform you the necessary solutions.

Legal advice request form

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Additional country information

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2023-08-01

How to register a company in Cape Verde

How to register a company in "Cape Verde", the country of islands? A country with high and safe economic growth

Company registration in the country of Cape Verde

Benefits of registering a company in Cape Verde

Ways to immigrate to Cape Verde:

Company registration in Cape Verde by the Iran and Africa Business Club

Reasons for company registration in Cape Verde

Procedures for company registration in Cape Verde

Types of companies in Cape Verde

The economy of Cape Verde

In conclusion

Legal advice request form

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