Understand the Jurisdictions Setup Requirement Before Proceed Your Cape Verde Company Registration
Cape Verde’s government wants to attract private and foreign investors so the country’s economic growth focuses on tourism, renewable energy, transportation services, and export industries. They have made a tremendous effort to encourage an economic model that is market-oriented where investors have the same duties and obligations. Cape Verde is an example for other African countries because of their good governance and transparency. The government aims to improve conditions for investors and encourage an economic environment that is transparent and competitive.
About Cape Verde Company Registration
When an investor wants to establish a company in Cape Verde, it is mandatory for them to follow the legal processes, sufficient investment they need to succeed, and international regulations. It is important to understand their cultural, political, and social factors that affect their business’ growth and establishment. Not being able to do so could lead to unexpected consequences. Not being able to do thorough research, and tone-deaf international launches normally lead to disaster, while time, energy, and money will be wasted due to poor planning.
The government of Cape Verde wants to make improvements to the business environment by avoiding red tape and enforcing reforms that are more friendly to investors. They also want to streamline procedures in the administration, have a more flexible labour market, and strengthen enterprises owned by the state. Even if their economy tends to experience external shocks, Cape Verde has benefited from consistent monetary stability and better market openness that controls trade and investment. An effective and honest legal framework and independent judiciary that supports the rules of law are also because of having a better infrastructure.
Sustainable Tourism Projects
The investments made by Cape Verde in sustainable tourism projects is one of the reasons why its fragile economy has been revitalized. The tourism and ancillary activities of Cape Verde have become an economic driving force in 2012, which accounted for about 30% of the GDP and 90% of the nation’s total exports. Tourism, which is the main factor of economic growth, has used natural resources like biodiversity, environment, and landscape. The continuous growth in 2013 tourism revenues had increased by 27% compared to the previous year.
Contractual Tax Benefits
The incentives are exceptional when it comes to custom duties, PIT, CIT, stamp duty, property tax, and investments that fulfil these conditions:
- The value of the investment is more than CVE 550 million
- There is a relevant investment for promoting and accelerating economic development, under the program of the government
- Creating at least 10 jobs
Contractual tax benefit concession still needs to seek approval from the Council of Ministers during the agreement process.
Tax planning in the early stages adds an important value to each transaction. This kind of planning is important in reducing the actual costs of taxes and long-term sustainable tax rate after the transaction. We are able to help you structure your business in a manner that is tax-efficient in Cape Verde and globally. You will obtain tax benefits, efficiently structure a deal, VAT planning, accounting services, business set up and more.