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Cape Verde
The climate is tropical and dry. The standard temperature remains around 25° and the changes do not exceed the 10° due to the influence from the ocean. In the sea the temperatures stay between the low of 21° in February and March and the high of 25° in September and October. Because it is situated in a zone where the Northeast winds predominate and increase intensity until the month of July, Cape Verde has a milder climate than those neighboring countries located on the same latitude. The rainy season is during August, September and October, and from year to year and island to island the rainfall is quite unpredictable. However, this does not prevent Cape Verde from enjoying Summer all year round. The East wind blowing from the African continent is extremely warm and usually arrives during January and February.
AVERAGE WEATHER CONDITIONS MONTH AVERAGE HIGH AVERAGE PRECIP
in January 75.2F 0.20
in February 75.4F 0.20
in March 76.6F 0.10
in April 76.6F 0.00
in May 77.5F 0.00
in June 78.8F 0.00
in July 81.0F 0.00
in August 83.8F 0.60
in September 84.7F 1.30
in October 83.5F 0.30
in November 81.1F 0.10
in December 77.4F 0.10
AVERAGE WEATHER CONDITIONS MONTH AVERAGE HIGH AVERAGE PRECIP
in January 75.2F 0.20
in February 75.4F 0.20
in March 76.6F 0.10
in April 76.6F 0.00
in May 77.5F 0.00
in June 78.8F 0.00
in July 81.0F 0.00
in August 83.8F 0.60
in September 84.7F 1.30
in October 83.5F 0.30
in November 81.1F 0.10
in December 77.4F 0.10
CAPE VERDE LAW
Cape Verdean law is based mainly on the Portuguese judicial and legal system. However since independence Cape Verde has made small changes to this system. The Cape Verdean government has made many conscious efforts to encourage investment and tourism and sees the tourist industry as its major future income source.
In 1993 the "Lei de Investimento Externo" or "External Investment Law" was introduced to enhance legislation in order to offer more attractive prospects for private foreign investment. One such enhancement includes a 5-year initial tax exemption and a subsequent tax reduction by 50% on corporate tax (currently 30%) for the following 10 years.
NUMERO FISCAL DE CONTRIBUINTE
All property owners in Cape Verde need to have a personal fiscal number. You can easily obtain this number quickly at a local tax office. You can sometimes avoid visiting a local tax office to acquire your fiscal number by opening a local bank account as the required number may be automatically assigned to you during the account creation process.
CONTRACTS
Buying a property in Cape Verde can be broken down into 2 main legal parts: the preliminary contract (Contrato de Promessa de Compra e Venda) and the completion contract (Escritura).
PRELIMINARY CONTRACTS
As soon as price has been agreed for a property the preliminary contract is signed between the buyer and the seller. At this stage the buyer will pay a deposit (this amount varies depending on the developer and the development but is usually low). This preliminary contract (promissory) acts like the exchange of contracts in the UK and secures the purchase subject to satisfactory legal research. The deposit paid is normally non-refundable should the buyer withdraw at this stage. This contract must be signed at a notary in Cape Verde.
Before signing the preliminary contract, you will need to obtain the legal documents outlined below. Your legal representative will help with the acquisition of these documents.
PROPERTY REGISTRATION CERTIFICATE
A document from the local land registry is needed confirming that the seller has ownership of the property and has exclusive legal rights to sell the property. Also this document will ensure it is free of additional charges and mortgages. Basically this document provides a legal history of the property.
PROPERTY TAX DOCUMENT
This document outlines the property for annual tax purposes. For new properties on Cape Verde this document will not currently exist and so the developer will be required to issue a temporary certificate.
LICENSE OF USE
You will need a copy of the usage license from the local Town Hall. This document simply denotes that the property is approved for the purpose of its original building. Residential property requires a habitation license and commercial property an industrial license.
COMPLETION
Completion occurs when the "Escritura" is ready to be signed by both the buyer and the seller of the property. It is at this stage that the buyer is required to pay the remaining balance of the purchase price. The "Escritura" is the equivalent to the Deeds of the property. Once the Escritura is signed the buyer is responsible for the insurance of the property. The result of the signing of the Escritura is the re-registration and transfer of the property in the presence of the land registry and tax office. Once this document is signed the property is legally the property of the new buyer. It is important to ensure the registration document (Registro) is in your name and lodged with the Cape Verde land office as soon as possible after the signing of the Escritura.
Cape Verdean law is based mainly on the Portuguese judicial and legal system. However since independence Cape Verde has made small changes to this system. The Cape Verdean government has made many conscious efforts to encourage investment and tourism and sees the tourist industry as its major future income source.
In 1993 the "Lei de Investimento Externo" or "External Investment Law" was introduced to enhance legislation in order to offer more attractive prospects for private foreign investment. One such enhancement includes a 5-year initial tax exemption and a subsequent tax reduction by 50% on corporate tax (currently 30%) for the following 10 years.
NUMERO FISCAL DE CONTRIBUINTE
All property owners in Cape Verde need to have a personal fiscal number. You can easily obtain this number quickly at a local tax office. You can sometimes avoid visiting a local tax office to acquire your fiscal number by opening a local bank account as the required number may be automatically assigned to you during the account creation process.
CONTRACTS
Buying a property in Cape Verde can be broken down into 2 main legal parts: the preliminary contract (Contrato de Promessa de Compra e Venda) and the completion contract (Escritura).
PRELIMINARY CONTRACTS
As soon as price has been agreed for a property the preliminary contract is signed between the buyer and the seller. At this stage the buyer will pay a deposit (this amount varies depending on the developer and the development but is usually low). This preliminary contract (promissory) acts like the exchange of contracts in the UK and secures the purchase subject to satisfactory legal research. The deposit paid is normally non-refundable should the buyer withdraw at this stage. This contract must be signed at a notary in Cape Verde.
Before signing the preliminary contract, you will need to obtain the legal documents outlined below. Your legal representative will help with the acquisition of these documents.
PROPERTY REGISTRATION CERTIFICATE
A document from the local land registry is needed confirming that the seller has ownership of the property and has exclusive legal rights to sell the property. Also this document will ensure it is free of additional charges and mortgages. Basically this document provides a legal history of the property.
PROPERTY TAX DOCUMENT
This document outlines the property for annual tax purposes. For new properties on Cape Verde this document will not currently exist and so the developer will be required to issue a temporary certificate.
LICENSE OF USE
You will need a copy of the usage license from the local Town Hall. This document simply denotes that the property is approved for the purpose of its original building. Residential property requires a habitation license and commercial property an industrial license.
COMPLETION
Completion occurs when the "Escritura" is ready to be signed by both the buyer and the seller of the property. It is at this stage that the buyer is required to pay the remaining balance of the purchase price. The "Escritura" is the equivalent to the Deeds of the property. Once the Escritura is signed the buyer is responsible for the insurance of the property. The result of the signing of the Escritura is the re-registration and transfer of the property in the presence of the land registry and tax office. Once this document is signed the property is legally the property of the new buyer. It is important to ensure the registration document (Registro) is in your name and lodged with the Cape Verde land office as soon as possible after the signing of the Escritura.