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Doing Business in Cape Verde

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Cabo Verde. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2015.

 

No.		Procedure	Time to Complete	Associated Costs
	1	Search for company name and reserve the proposed name Agency: Commercial Registry Department (Casa do Cidadão) The investors must provide the proposed company name and purpose. The research is completed before the Commercial Registry Department (Casa do Cidadão) which approves or rejects the names. The firm registry is computerized, therefore the process is fast.	1 day	CVE 600
	2	Registration with the commercial registry department Agency: Commercial Registry Department (Casa do Cidadão) Once the entrepreneur goes to the Commercial Registry Department (Casa do Cidadão), the company’s registration is completed through an internal online registration system. The incorporation notice is published in the Casa do Cidadão website. The tax identification number can be obtained automatically and it is free of charge.	1 day	CVE 10,000 (registration fee) + CVE 1,000 (chamber of commerce fee)
	3	Obtain municipal license Agency: Municipality "There are two types of licenses: the municipal license and the license by activity. The municipal license is mandatory for all businesses operating in Praia. An inspection is usually performed prior to granting the municipal license. However, since the adoption of Decreto-Lei 30/2009, the municipal inspection can be carried out ""a posteriori"" and the enterprise can start its operations before receiving the Municipal License. The license can be checked online through the following web portal: https://lojacmp.com/?secao=processo"	8 days	CVE 30,000
*	4	Register workers with the Social Security Office (Instituto Nacional de Previdência Social) Agency: Social Security (Instituto Nacional de Previdência) Registration at the Social Security Office (Instituto Nacional de Previdência Social) is free of charge.	1 day, simultaneous with previous procedure	no charge
*	5	Register workers with accident insurance at insurance company Agency: Insurance company Business founders must register workers with accident insurance at any insurance company.	1 day, simultaneous with previous procedure	no charge
*	6	Register workers with labor inspectorate Agency: Labor inspectorate office This procedure is mandatory if the company hires workers under a term contract.	1 day, simultaneous with previous procedure	no charge
*	7	Obtain and legalize the company books Agency: National Print (Imprensa Nacional) These books can be purchased at the “Imprensa Nacional” National Print for CVE 2,000. All pages have to be signed by the entrepreneur.	3 days, simultaneous with previous procedure	CVE 2,000