CAPE VERDE, THE NEW INTERNATIONAL FINANCIAL CENTER
5 Reasons why wealth managers are moving to Cape Verde
| ZERO TAX ON FOREIGN INVESTOR DIVIDENDS |
| ABSOLUTE FINANCIAL SECRECY |
| GOLDEN VISAS FOR HNW INVESTORS |
| UBO CORPORATE SECRECY |
| BANKING SOLUTIONS FOR ALL FOREIGN NATIONALS |
MACRO INVESTMENT STABILITY
Cape Verde maintains macro stability through its main bilateral partners including China, Luxembourg, Portugal, Spain, and the United States.
Cape Verde is the only country to be awarded the Millennium challenge account consecutively by the USA, totalling 166 million Dollars.
World Bank Group (WBG) commitments in Cape Verde total $77.5 million
African Development bank “Cape Verde is regarded as a safe haven for investment” (ADB report “Cape Verde, A success story”, 2012).
Currency peg to the Euro since 2002.
TAX REGIME
Our clients can benefit from CIT rates of between 2.5 to 4% and 0% on certain investments.
PRIVATE INVESTMENT STABILITY
Cape Verde has attracted significant foreign direct investment over the past ten years with brands such as TUI, The Resort Group, Hilton hotels and Thomas Cook investing in large scale fixed assets in country.
Foreign Direct Investment 2013 2014 2015
FDI Inward Flow (million USD) 70 135 95
FDI Stock (million USD) 1,636.3 1,552.8 1,485.6
CLIENT CONFIDENTIALITY FOR BANKING
Cape Verde is an international finance center and has strong legislative protections for client confidentiality. Confidentiality wise, Cape Verdean legislation declares any breach (or its mere attempt) of confidential information, namely client names, account numbers and movements, as well as any exchange rate or financial operations, punishable by law. (Cape Verde Financial law 2007 – Article 8 – Law nº 43/III/88 – and Law nº 41/VIII/2013)
SIMPLE BANKING PROCEDURES
Accounts can be held in dollar, Euro or Escudo currencies. Individual and Corporate provision of VISA debit and credit cards. Online banking platform
PROTECTED TRANSFERENCE OF LIQUID ASSETS ABROAD
The investment law of Cape Verde guarantees the right to freely transfer abroad any funds held by a foreign investor in Cape Verde (Article 7 “Transfer of funds abroad”, Law 34/2013)