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Investment Opportunities Cape Verde-2009

Investment Opportunities

There are investment opportunities on all the populated islands in Cape Verde.

Some people may have had unfortunate experiences with the purchase process and have tales to tell which may put potential buyers off from investing abroad. However there are many purchases that run smoothly, perhaps with a few hiccups along the way, but in all cases, seeking professional advice should always be encouraged.

The saga of buying and owning property abroad may evolve into further concerns after purchase, so please carry out due diligence prior and during the purchase process, even though you can't for-see everything that could or may happen in the future.

Some of the major developers will have people carrying out their own due diligence on behalf of the company, but you still should seek your own professional advice with other lawyers.

Please note that these pages and the information within them are taken from people's personal experiences and are not meant as a guide in investment.           

Details and Forms

Here we will upload a few forms used to help CV property owners process the setting up an Electra contract and a Form used to calculate and pay Tourist Tax for those that have rented an apartment from you. These forms will incur a small fee (when posted here online) if requested by owners.

Archive - Registration required

We have archived information in this section which we have placed in a secure zone. You will need to register to access these

Payment stages (off plan) - pre 2009

Some developers may tell you that the property will be ready by a certain time, this isn't always guaranteed as their may be reasons why they are running later than expected.

One developer I spoke to in 2009 told me that their payment stages were based on: Reservation Fee of 3,000 euros
10% which came out of the reservation fee (if not an expensive property)
30% when they start to build
30% when they have put the roof on
25% floor level
5% at the end stage when completed
If the building is near completion, there may be no split payment stages.
If the building is completed you may just have to pay the deposit, then the full amount in 30 days or other specified date.

But these do vary from developer to developer, check some of the developers websites.

Take advice on how to obtain a mortgage for making payments at various stages, be sure you can make the payments.

Wherever you buy you will need to consider

1. Most importantly if looking for property, take a note pad and pens, every where you go you will find you bump into people when you are out and about or see a Vende sign with a contact telephone number.

2. I bought a small digital camera with video facility just before I went to Sal, I didn't have time to learn about how it worked until the second day into the holiday, and that was just the basics. I had been advised to buy a much bigger memory card if I was to take some video, which I did. The camera really came in handy for taking photographs of buildings and video recording the layout; it helped me when comparing some of the apartments I was interested in. Unfortunately I deleted some footage thinking I wouldn’t be needing it, I wished I hadn’t. Next time I will have learnt to reduce the pixels which will allow me to take more pictures and video using the same memory card.

3. A number of developers are now including Agents fees in the sale price of a property, but not sure if that's all of them, its worth while finding out. You may get a better deal if not going through an Agent.

4. If you do meet people who have bought and they say it is the bees knees or the best thing since sliced bread, just keep in mind that some people haven't done any proper research, and they may only have been here for a week. They may have bought somewhere that they were told was the best investment opportunity, so please just be wary, but do follow any leads up, it may meet your needs, or not!!!

5. Most people that are looking to buy are looking for the best investment.

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