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Click here to view properties from Cape Verde
Situated 500 km from the Senegalese coast, Cape Verde is only 5 hours flight from Europe and is considered to be one of the last remaining unspoilt corners of the world. The islands have become one of the most sought-after places because of their tropical climate, rich marine life and endlessly long white sandy beaches.
Cape Verde is in the tropical zone. Average temperatures range from 24 °C (75 °F) in January and February to 29 °C (85 °F) in September.
Each island offers a distinct ambience any traveler will surely enjoy – hilly, flat, lush, and sunny. Not to mention, the beaches are spectacular! And although tourism has encouraged developments in the islands, it maintains an unspoiled beauty perfect for a get-away.
Tourism in the islands has been growing at a rate of 25% annually over the past five years. Tourist arrivals grew from 67,000 in 2000 to 183,000 in 2005, according to the Ministry of Economy, Growth and Competitiveness in Cape Verde. The number of tourists is expected to reach 500,000 once all the new airports and infrastructure are in place.
A former Portuguese colony, Cape Verde maintains close links with Portugal and the Euro zone.
It has white beaches, mountains, and snorkeling sites. Yet property is still relatively cheap. A building boom is now taking place, as developers anticipate tourist interest. Infrastructure is currently being developed and upgraded.
Foreign nationals may freely purchase residential property. Real estate transactions are done in the national currency, the Cape Verde Escudo (CVE). However, most new developments are quoted in either Euro or British pounds. The Escudo is tied to the Euro at CVE 110.265 = 1 Euro.
Rental Income tax: Rental income gained in the Islands is taxed at 20%. Property tax is levied annually on the value of immovable property at 0.075%.
Capital Gains tax: Capital gains tax is levied at a flat rate of 3%.
Inheritance tax: Any property transmitted by inheritance or by gift is taxed at a flat rate of 3% on the attributed value.
Click here to view properties from Cape Verde
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