Good Conditions For Investment in Cape Verde
Cape Verde’s politicians have been very astute in their dealings with the international community and opened many doors for the country, so much so that positive conditions for investment in Cape Verde are being held up as model for future emerging nations. Cape Verde property may now be firmly on the overseas property map but for some time has also seen growing tourist numbers and there are signs that this small archipelago is attracting major overseas investment especially from China. Not only does the country boast a plethora of untouched landscapes, warm ‘holiday’ weather but now Cape Verde is building an economy which is growing stronger year on year.
The recent congregation for the Economic and Trade Cooperation between China and Portuguese-speaking Countries was very complimentary about the current situation and the future outlook for Cape Verde. Alexandre Fontes of Cabo Verde Investment (CVI) believes that the country has a competitive edge over many other countries in the region with an excellent transport network, a growing services industry and a willingness to embrace new technology.
However, perhaps the greatest praise should be held back for the regulatory and legal framework in this overseas property hotspot of less than 500,000 inhabitants. The Cape Verdean authorities are being held up as an example to many other developing nations around the world, with their willingness to work with and for the benefit of overseas investors, and the Cape Verde itself, with the ultimate goal of attracting increasing levels of tourism income to the islands. While many countries, small and large, around the world have attempted to attract overseas investment without offering the legal protections required, Cape Verde has chosen not alienate foreign direct investors but ensuring it has a strong regulatory framework in place.
Commenting on the Cape Verde’s legal system, Chintan Mahida, Nubricks.com Overseas Property Expert said, “In simple terms, the laws of Cape Verde do not differentiate between foreign investors and local businesses, offering a level of security and rights, something which is somewhat lacking in some developing nations and creates a huge barrier to entry for international property investors”.
It has been stated that as a direct result of the flurry of trade agreements and memberships of international organisations, Cape Verde products have enjoyed access to a massive 500 million consumers worldwide. The increasing wealth of the Cape Verde nation has laid some great foundations for a growing real estate market, one which many early-bird international investors have already profited from and many intend to keep a very close eye on, with a view to taking advantage of any future investment opportunities which may lie in Cape Verde’s pipeline.
