General Questions about Cape Verde/Praia and Sal in particular

    Good day forum
I am considering relocating to one of Santiago or Sal. I have already spent some time in Praia and will visit Sal (most likely Santa Maria) to finalise my research before making a decision.

I was able to get straight answer to most of my questions during my visit and from my own research, but some questions still remain:

Freehold/Leasehold Land/Home/Apartment Ownership - Are foreigners allowed to buy on a freehold basis or is it a leasehold system for foreigners, and if so, what is the maximum term (eg 50 years non - renewable? 50 years or 99 years renewable?)

I have a clear idea of what income and business taxes are required on island, but I also saw someone mention the possibility of registering a tax free business? Is this actually possible/part of a government scheme to encourage inward investment?

I kind of have an idea of land prices in my preferred locations, but what are the construction costs (excluding land) of building an average two storey 3 or 4 bedroom home in Praia (or somewhere nearby in Santiago), or Santamaria (or somewhere nearby in Sal) with a medium sized garden? The figures don't have to be 100% accurate, but a rough figure would help for budgeting purposes. I'm quite comfortably off, but still do not want to overspend if I can avoid it

I noticed that gardens tended to be small or non existent in Praia. Is this particular to Praia and Santiago? Is there some kind of building regulation mandating these small garden sizes to economise space? Funny question, but worth asking. Or maybe it was just the specific areas that I frequented

Does anyone have an idea of who are the most reliable construction companies/contractors on Santiago and Sal in particular?

Lastly, entry requirements. I was involved in a scuffle (basically retaliation) in my home country 20 years ago which resulted in a criminal conviction and small fine which appears on my police report. Other than that, I have a clean record and have never been in trouble either before or after that incident. Will this affect my immigration/residency application?

Thanks in advance
   

    -@CTC Flights

Hello CTC Flights

Freehold/Leasehold Land/Home/Apartment Ownership - Are foreigners allowed to buy on a freehold basis or is it a leasehold system for foreigners, and if so, what is the maximum term (eg 50 years non - renewable? 50 years or 99 years renewable?)

Any land you purchase whether it is from a private individual or a municipality is freehold. The law does not distinguish between foreigners and residents, citizens or non-citizens ability to own freehold land. All buyers are treated the same. You buy the lland, it's yours. However, as he owner you are required to pay the property taxes annually.

I have a clear idea of what income and business taxes are required on island, but I also saw someone mention the possibility of registering a tax free business? Is this actually possible/part of a government scheme to encourage inward investment?

Anyone can register a tax free business. It is intended for micro and small businesses. If you register your business under the tax free regime, it is the only business you can own and you cannot earn more than 100,000 euro per year or hire more than 10 employees. Has nothing to do with encouragiing investment. It is simply meant to discourage people from operating unregistered/informal businesses and risk getting caught and/or fined.

I kind of have an idea of land prices in my preferred locations, but what are the construction costs (excluding land) of building an average two storey 3 or 4 bedroom home in Praia (or somewhere nearby in Santiago), or Santamaria (or somewhere nearby in Sal) with a medium sized garden? The figures don't have to be 100% accurate, but a rough figure would help for budgeting purposes. I'm quite comfortably off, but still do not want to overspend if I can avoid it

Construction costs EXCLUDING the price of land ranges from 500 euro per m2 for a medium quality build to 1000 euro per m2 for a luxury build. The price does not vary by number of floors or anything else.

In Sal and Boavista, the constructions costs are slightly higher because of the cost of shipping building materials and construction equipment to those islands. But the cost of land is much higher since these are small islands with limited land availability (limited supply) and the demand is much higher.

I noticed that gardens tended to be small or non existent in Praia. Is this particular to Praia and Santiago? Is there some kind of building regulation mandating these small garden sizes to economise space? Funny question, but worth asking. Or maybe it was just the specific areas that I frequented

No one who builds in the population centers wastes good land on gardens because they do not add (market) value to the property. In fact, it has the opposite effect since the selling price or rental value of a building is based solely on the sqaure meters occupied by the building. So when Cape Verdeans acquire land in the city, they use the entire land area for construction and they build as many floors high as the city allows. This way you get maximum value from your asset as you will maximize the square meters of the construction.

Does anyone have an idea of who are the most reliable construction companies/contractors on Santiago and Sal in particular?

All the big builders are reliable. They are pretty much all the same in terms of reputation and capability. If you go with a small contractor, you'll be playing with fire.

Lastly, entry requirements. I was involved in a scuffle (basically retaliation) in my home country 20 years ago which resulted in a criminal conviction and small fine which appears on my police report. Other than that, I have a clean record and have never been in trouble either before or after that incident. Will this affect my immigration/residency application?

No, this will not affect your residency application.

If you need more specific help, contact me via private message.

Best regards,

Angelo