Procedures Required for Company Registration in Cape Verde
Cape Verde is an ideal location to start your business since the nation provides many benefits to local, as well as foreign investors. The country’s economy has been growing speedily over recent years. The procedure for company registration in Cape Verde is also quick and affordable. The government offers incentives to specific industries besides providing them with various tax benefits. It highly encourages the tourism sector, as well as companies that produce goods here and export outside the country.
Cape Verde offers a stable environment to investors being free from religious, ethnic, or political conflicts. Its location is strategic as it is mid-way between South America and Central Europe, along with being placed between North America and South Africa. It has access to the markets of countries in the European Union, The USA, and Canada, among others. Transportation is well-developed with several airports and international seaports. The information and communication technology systems are very efficient. Water and power supply facilities are also sufficiently provided to business organizations.
There are excellent industrial estates with necessary equipment along with other adequate facilities and services. There is also the benefit of the ready availability of literate labour force that can be provided with appropriate training. The region is blessed with a moderate climate and also has a low crime rate. The fishing industry has excellent potential since there are abundant unexplored marine resources here, and tourism is also a flourishing sector.
Benefits of Company Registration in Cape Verde
- You get asset protection and can also uphold your rights
- The government policies are non-discriminative
- You can open and maintain a bank account in your company name
- Clients will trust you more since you are a legal organization
- You can hire expatriate workers
- Repatriation of profits is allowed
- Low corporate tax for five years
- You can freely export the goods produced
- For export-based firms, there is an exemption on tax for raw materials, and finished and unfinished goods
The Process of Company Registration in Cape Verde
Foreign investors can form any of these trading companies as per their suitability:
- Shareholder society
- Anonymous society or limited company
- Limited society (Joint-stock company)
- Cooperative society
Company registration in Cape Verde consists of some pre and post-registration steps. An investor setting up a company here would need to follow these steps:
- First, you have to search and reserve a company name. This is done at the Commercial Registry Department, which holds the right to approve or reject the titles selected. Then, you need to obtain a certificate stating that no other firm bears the same name.
- Obtain an original registration of trading society and by-laws made by trading partners
- The initial capital needs to be deposited in a bank, and the deposit-proof should be provided
- Register the company at the Commercial Registry department (Casa do Cidadao). Get the bye-laws of business set-up agreement published in the official gazette
- The notice of incorporation is published on the department’s website. Then, you can obtain the Tax Identification Number (TIN), which is generated automatically
- For starting business operations, you need to get a municipal license, as well as a license by activity after requesting an inspection
3E Accounting India has years of valuable experience in incorporating companies. Our experienced staff will guide you through all the mandatory steps like choosing the right name for your business, opening a bank account, registering your firm, getting the TIN, and obtaining a municipal license. If you are interested in setting up a firm in Cape Verde, contact us for further information through phone or email. Our executives will then get back to you.