Buying in Cape Verde - Process, Costs & Considerations

Whether buying properties directly (new or refurbished) or buying off-plan, the general process when buying property in Cape Verde is as follows:

1. Documents are obtained from the Land Registry Offices and the Muncipal Authority. These include a Land Register Certificate (Certidao do Registo Predial), official map showing the exact location of the property (Planta de Localizacao) and a Tax Information Certificate (Certidao Matricial).

2. A purchaser's tax card must be obtained.

3. The purchaser signs a Promissary Contract of Purchase and Sale before a public notary in Cape Verde and pays a deposit of 30%. This contract is legally binding and sets out the terms of the sale.

4. The purchaser signs a final Deed Of Conveyance (Escritura) before a public notary in Cape Verde.

Costs include:

Transfer tax of 3% of the property value is paid before the Deed Of Purchase and Sale.

Notary fees, registration fees and stamp duty are payable on signing the Deed Of Conveyance. This is usually around 2.5% of property value.

Annual rates are charged at 3% of 25% of the attributed value of the property and are payable in April (or in to instalments in April and September)

If you a property in Cape Verde, Capital Gains Tax is charged at 3% on the attributed value of the property IF the property has increased in value by more than 30% of the initial purchase price.

Cape Verde Property Guide

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