| Name: | SPECIAL OFFER!!! info@saldomus.com |
| Island: | Sal |
| Area: | Santa Maria in Sal Island |
| Description: | |
Why investing at Cabo Verde
- Since 1975 the archipelago is an independent republic and the government - starting from the middle '90s - has seen residential tourism as one of the most potential factors for economic growth, setting up a rather good town-setting plan. The pro-capite revenue of the population of Cape Verde is higher than in any other African country and - even without any relevant natural or industrial resources - there is no dramatic poverty. The World Bank - in the last year - has started a national aid-program, to further increase this economic development, which means - obviously - lack of social conflict and political stability.
- The full ownership of estates for foreign investors is guaranteed by law. It is possible, even for retired foreigners, to request a permanent residence in Cape Verde (Law 19/V/96), which means a series of interesting benefits and fiscal deductions, such as the detaxation of pension revenue in the native country. This rule has been approved by laws of countries belonging to the European Union (in Italy, law 527 of 29/12/1999).
- On the island of Sal, all major European tour operators are present with fair hotels, hosting more than 150.000 tourists per year. Many of them - fascinated by natural beauty, quality of life and opportunity of climatic vacation - decide to come back frequently, renting or buying a house. This makes estate revenue quite profitable for owners.
- The still acceptable level of purchasing costs and the European standards of quality make all investments in real estates quite profitable, with a yearly increase of value of property around 15-20%, apart from the return on investment due to a rather low taxation system.
Taxes and notary public costs
Expenses and taxes at the charge of the purchaser on the transfer of real estate are as follows:
- Deed attested by a Notary and Registration Fee (to be paid at the moment of stipulation of the Act of Sale with the Cape Verde Government Notary) for an amount of about 2,4% of the declared value of the property;
- IUP Tax, for an amount of about 3% of the declared value of the property, to be paid at the moment of stipulation of the deed under the hand and seal of the Notary Public;
- The IUP tax is paid only at the moment of stipulation of the deed under the hand and seal of the Notary Public; from the following year the tax to be paid is about 0.075/% of the value of the property declared.
Purchase of real estate on Cape Verde
In the archipelago of Cape Verde the right of "full ownership" is in force: those who purchase real estates are the owners and they can sell it when they want.
Put your money in a safe place
Buy a fully furnished apartment in the Santa Maria holiday village on the Sal island.
For just € 90,000 - the price of a garage in Europe - you can buy a magnificent two-room flat. And if you rent it out when you're not using it yourself, the investment will bring an even higher return.
For example:
Deposit € 18.000
Fist year instalment € 27.000
2nd year instalment € 27.000
Balance, title deeds € 18.000
Total investment € 90.000
Estimated return in 5 years (6.3 x 5) € 31.500
Estimated value in 5 years' time * € 145.000
ESTIMATED GROSS RETURN IN 5 YEARS: +96 %
*Property appreciation in the next five years is expected to be half that of the last five years
INVEST IN TRUST
Anyone investing in Cape Verde does so for one or two reasons, either to live or go there on holiday, or to earn an income. Both cases offer a series of fiscal and financial advantages:
- 6% growth rate in 2007;
- The world's fastest growing tourist destination;
- One of the most interesting countries to invest in;
- Guaranteed rental income and record-breaking property appreciation;
SOUND INVESTMENT
Cape Verde is a democratic society open to foreign investment, which is actively promoted at a government level.
C.V. escudo with a fixed euro conversion rate; tax laws with a minimum taxation on assets and income.
PEACE AND QUIET
Cape Verde is a peaceful open-minded society with enviable political and social stability.
Absolute personal safety allows foreigners to live and socialise easily with the local residents.
African nature and European culture blend in this modern and tolerant country, where political and religious freedom are guaranteed.
DIVERSIFICATION
If you are disappointed by financial investments in Europe that earn a mere 2-3%, you can now invest in property in Cape Verde, which has doubled in value in the last 5 years yet is still extremely affordable - and yields a very high rental income.
A dream holiday home in the tropics, ready to use or rent out, costs the same as a garage in Milan. Think about it.