Question 1

Why invest in Cape Verde

Accepted Answer

· It is one of the safest countries in the world (source: Euronews)
· Economy with consistent growth since 1990 (World Bank report 29.04.22)
· Tourism growth, higher than the world average in the last 15 years (ISCTE – master's nov. 2020)
· Growing number of direct flights (from more than 30 European cities) and recent start of low-cost flights
· At the junction of Africa, Europe, North and South America, less than 4 hours flight distance from any of them 
· It has a democratic governance with party rotation
· It has a Constitution and legislation that ensures private property
· Free repatriation of capital and circulation of foreign exchange
· Currency with fixed parity with the euro
· State-of-the-art telecommunications
· VAT at the general rate of 15%, and reduced on tourist services
· Mainly young population and mandatory high school education
· Mild air and sea temperatures, constant throughout the year
· One of the 10 places in the world with the greatest marine biodiversity (YouTube – Record TvCabo Verde, recording of 2/22/21) with more than 10,000 species identified, many of which are endemic.

Question 2

Why invest in Santiago Golf Resort (SGR)?

Accepted Answer

· Santiago Golf Resort (SGR) is located on the island of Santiago, the main island of the Cape Verde archipelago, on the south coast, protected from the trade winds, indented by small coves and beaches where it's easy to find a large variety of fish such as merlin, tuna, bonito and flying fish.
· It has more than 4 km of coastline and is located between the city of Praia, capital of Cape Verde and the mythical Cidade Velha (historic center). 
· It combines the proximity of urban areas with the tranquility of astonishing sea and mountain landscapes, constituting a preserved area with direct access to the sea, where Gago Coutinho and Sacadura Cabral landed during the First aerial crossing of the South Atlantic , as well as the seaplanes of the French Aéropostale and anchored the privateers who would surround and destroy Cidade Velha in 1585 (Francis Drake) and 1712 (Jacques Cassard) .
· The land is served by a dual freeway, a direct connection to the international airport of Praia, at a 20 minutes distance.
· It occupies an area of 549ha divided into several “zones”, each with its own intent and constructive indexes, according to the Land Management Plan approved by the authorities.
· The “zones” are essentially intended for tourist housing (villas and/or townhouses), hotels, golf, beach, commerce and services, recreational and sports areas.
· The land occupation density (0.12) ensures a unique quality of spaces and landscapes.
· Projected as a place of prestige and modernity in harmony with nature.
· Santiago Golf Resort has a vision of social integration, having implemented an urban and housing improvement plan in the towns of Caiada and S. Martinho Grande.

Question 3

Who are the promoters of Santiago Golf Resort?

Accepted Answer

· Santiago Golf Resort is owned by a limited liability company incorporated under Cape Verdean law, with the same name, NIF 200 100 955, and accounts subject to quarterly appreciation by a company of auditors.
· The shareholders of this company are Dr. Eugénio Inocêncio (former deputy of Cape Verde parliament, former ambassador, former CEO of CV Telecom, etc.) and Sacramento Campos Investimentos SGPS, S.A, a portuguese holding.

Question 4

What is the property regime?

Accepted Answer

The Santiago Golf Resort is a privatly owned development.

· Three zones have been sold with deeds already issued:
 - An area with 49ha where an allotment of 186 villas was developed 
 - An area with 27ha where the construction of 3 hotels, under the Mélia brand, will soon begin construction
 - A 14ha zone idedicated to commercial and service activities

Question 5

Which real estate products are available?

Accepted Answer

· At Santiago Golf Resort there are macroplots (zones) suitable for the development of tourist villages, hotels, sports areas, tourist housing, commercial and other related services, as per the presentation document. At Sociedade de Desenvolvimento Quinta da Achada there are still available the last lots for villas and townhouses, commercial areas and a boutique hotel.

Question 6

What benefits do I get from my investment?

Accepted Answer

· Inclusion in an area classified by the State of Cape Verde as a ZDTI (Integrated Tourism Development Zone), that is, with special aptitude for the practice of tourist activities
· The possibility of discovering paradise before others - investment opportunities 
· An above-average real estate valuation, typical of island areas with propencity for tourism and economic growth 
· Tax benefits for investors/promoters
 - Real estate developer – transference of the Establishment Agreement assigned to SGR which includes benefits on 100% of profits in the first five years after the beginning of the exploration phase; and 50% for the next 5 to 10 years, as negotiated; IUP exemption on the purchase of real estate; exemption from customs fees on materials to be incorporated into the investment.
 - Tax benefits for end customers 
· An immense preserved location for leisure and enjoyment with a high standard of quality
· Opportunity to discover and share “morabeza”
· History, culture, music, gastronomy and traditions, unique
· Diversified water sports, including windsurfing, kitesurfing, diving and fishing

Question 7

What do I need to build or develop my construction or my project?

Accepted Answer

· The resort is divided into zones in accordance with the POT (land use plan) approved by the licensing authorities and includes some common infrastructure that ensure accesses, water, energy and telecommunications. For each zone, it will be necessary to have the respective POD approved by the GGZTE, the only office that receives the information, leads and coordinates its approval
· The individual construction projects, according to a POD, are submitted directly to the approval of the respective municipality
· SGR will be able to give all the necessary support to make your dreams come true, as it has a set of partnerships in design, supervision of works, and construction, including support in the licensing process, in accordance with technical legislation specific to Cape Verde (similar to continental European legislation)

Question 8

Contractual issues - How to safeguard the purchase of real estate?

Accepted Answer

· The transaction and registration of property in Cape Verde is similar to the European standards
· You can make a pre-reservation of the property, by signing a simple document between the parties. The usual deposit corresponding to a reservation is currently 15% of the purchase price, however other payment agrements may be discussed. This reservation is transitory and limited in time to 3 days until the final purchase decision is taken
· Once the purchase decision has been taken, the transaction normally begins with the signing of a Promissory Purchase and Sale Contract, where the particular conditions of the deal are established, subject to general law, namely the identification of the good, the establishment of the price, the terms of payment, the obligations of the contracting parties, and reimbursement in case of withdrawal.
· For your safety, a map of the property's location will be provided, with a quote of the property, with the limits identified by topographical coordinates, as well as identification of the area. Records, matrix and property, of the property will be provided. If there are condominium regulations, a copy of them will be delivered. 
· With the full payment of the property, the definitive deed is carried out in a public notary, which presupposes the existence of a matricial registration of the property in the municipal archives and the land registration in the Public Property Registry, whose ownership must then be updated based on the definitive transaction deed of the property.
· If you prefer to issue a power of attorney, we can provide you with full and personalized follow-up. When signing contracts and in any questions you may have answered.
· The following charges are associated with the definitive purchase and sale deed of the property:
 - Property Transfer Tax (IUP) - flat rate of 1.5% on the value of the transaction to be paid before the deed of purchase and sale (in the case of promoters it will, in principle, be exempt).
 - Fees of the local notary - c. €400
 - Local legal fees - c. €500
 - Notarial expenses (according to the identified notary)

Question 9

What are the related costs of the property after its acquisition?

Accepted Answer

· Property Tax - flat rate of 1.5% on 25% of the assigned amount to be paid annually in April, or 2 installments in April and September of each year.
· Condominium administration fee, depending on the area.
· Maintenance costs depending on the property purchased.

Perguntas Frequentes