Cape Verde Islands Property Buying Guide
IMPORTANT: Always use a registered & reputable estate agent.
The following is a 10-step guideline about the purchasing & legal process when buying a property in the Cape Verde islands.
1. Land Charge Searches, are carried out at the local Municipal Authority and Land Registry Offices. The purpose is to reveal if there are any charges against the property or any potential restrictions that may prevent you taking title on the property.
2. Your registered lawyer will obtain "Certidao do Registo Predial" (the land registry certificate) "Planta de Localizacao" (the map showing the property's exact location in the cape verde islands) and the "Certidao Matricial" (the official tax information certificate). If the property is not yet registered, your lawyer will obtain a "Certidao pela negativa" (a certificate confirming that the property in not registered in anyone's name) and a "Certidao matricial para o efeito" (a tax certificate). With these documents you will be ready to register your property.
3. Make sure that you ask the vendor to show proof of payment for and utility and household bills to confirm a history of payment.
4. It may be necessary to give your registered lawyer Power of Attorney so he can represent you in you absence. It is also useful to use your lawyer to request the promissory contract and deed on your behalf so you can avoid unnecessary effort and confusion. The entire process will be dealt with in the native tongue, Portuguese, so if your language skills are a little rusty, leave it to the professionals.
5. Your lawyer can obtain all the necessary tax requirements on your behalf.
6. The Signing of the Promissory Contract of Purchase and Sale ("Contrato Promessa de Compra e Venda"). Generally the purchaser is expected to pay the deposit, 10-30% of the purchase price.
7. The final Property Deed,called the "Escritura" must be signed at a public notary inorder to be made official. This gives the purchaser official ownership of the property.
8. The purchase must then be registered at the local Land Registry and the Local Municipal Authority. The Notary will then prepare and send a report to the local Municipal Authority as confirmation of the transaction. Notary, registration fees and stamp duty tend to be approximately are 2.5% of the property's value. Payable upon signature of the Deed.
9. You will need to sign contracts with the water, gas electric. providers to guarantee your connection. Your lawyer can arrange this for you if required. We also recommend that final meter readings take place upon completion, to avoid any incorrect charges.
10. You can find information about tax on our dedicated page