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How To Start A Business in Cape Verde

How to Start a Business in Cape Verdes - Step by Step Guideline

Cape Verde (Cabo Verde) is a politically stable island nation with a growing economy and a favorable business climate. The government actively encourages entrepreneurship and foreign investment through streamlined procedures and investment incentives.

Step-by-Step Procedure for Locals

  1. Reserve a Company Name:
    Begin by reserving a unique business name at the Commercial Registry Office (Casa do Cidadão or Conservatória do Registo Comercial).
    Fee: CVE 1,000–3,000
    Duration: 1 day
  2. Draft Articles of Association:
    Prepare the company’s bylaws (estatutos), which must be notarized.
  3. Deposit Initial Capital:
    Deposit the minimum required share capital in a bank and obtain proof.
    Minimum for LLC: CVE 100,000
  4. Register the Business:
    Submit documentation to Casa do Cidadão or via the e-government portalto register with:
    • Commercial Registry
    • National Institute of Social Security (INPS)
    • Tax Department (NIF registration)
    • Municipality for business licensing
    Duration: 2–5 working days
  5. Publish in Official Gazette (Boletim Oficial):
    Required for public visibility depending on business structure.
  6. Start Operations:
    After successful registration and licensing, the business may begin operations.

Additional Steps for Foreign Investors

  1. Obtain Investment Authorization (if applicable):
    Foreign investors may need to apply for authorization or registration with Cabo Verde TradeInvest for tax and legal benefits.
  2. Secure Business Visa or Residence Permit:
    If physical presence is required, investors or directors should obtain a valid visa or residence permit from the Directorate of Immigration.
  3. Open a Foreign Currency Bank Account:
    Required to transfer capital into Cape Verde and manage foreign currency transactions.

Useful Resources

Disclaimer: The procedures, fees, and timelines provided in this guide are for general informational purposes only and may be subject to change. It is advisable to consult relevant authorities or professional legal advisors for updated and case-specific information.