Your home in Cabo Verde - why should you invest in Boavista

Thanks to its geographical position, its unmatched beautiful landscapes, its unique and favourable climate all year round, as well as to its propitious political and social conditions, Boavista is by now a destination sought after by international tourism and it has attracted both local and international attention aimed at improving services and well-being. By now, it is certain that in the next few years, its importance will match that of the Canaries, the Red Sea and of tropical countries.

Boavista is recommended by major newspapers, televisions and rating agencies as one of the best destinations in the world for property investment. Boavista has an international airport that opened in the end of 2007, with increasing direct flights from many European countries. There are several weekly flights from various Italian cities that reach Boavista in only 5.30 hours.

The climate is tropical and dry, thus particularly favourable for the whole year, with temperatures ranging from 23° to 30°C. The uncontaminated waters of the ocean offer purity and temperatures between 21° and 26°C, conditions that are ideal for the proliferation of several species of flora and fauna. In every season, you’ll find tuna, swordfish, gropers, sea breams, crayfish, crabs, shellfish, as well as dolphins, whales, sperm whales, etc. The political and social conditions are among the most favourable in the world. The locals are peaceful, welcoming and friendly. There are no ethnic and religious conflicts. The most popular religion is the Catholic religion, but other religions are tolerated. Crime and corruption are practically non-existent. Healthcare standards are particularly favourable: indeed, there are no endemic or contagious illnesses and no vaccination is requested. In Boavista, a new hospital was completed in 2008, which guarantees an advanced healthcare cover.

Property investment in Boavista is extremely interesting and safe, as Cabo Verde applies the “full ownership” right. This means that anybody can buy a property becoming its full and legitimate owner, and resell it at any time. Purchases and sales are made through notary contracts registered at the local Land Registry office. After the opening of the International Airport, the apartment prices suffered a significant increase but, for the time being, flats are still sold at prices that are ridiculous for European standards when compared to the square metre value in the Mediterranean and in the Canaries.

On December 29, 1997, the Italian Parliament approved Law No. 527, an agreement between the Government of the Italian Republic and the Government of the Republic of Cabo Verde, on the promotion and protection of investments, with a protocol signed in Rome on June 12, 1997 (published on the Official Gazette No. 13 of January 18, 2009). Such Law is the guarantee, to all effects, of the ownership right in the Republic of Cabo Verde for all Italian citizens (later extended to all the Countries of the European Community).

Investing today in Boavista means to catch a big chance at the best time, in the initial stage of full expansion and international interest for this paradise. Investing now means being able to pick the best locations and have the best margins of growth for your value, investment, property.

The expenses and taxes that a property buyer has to pay in Cabo Verde are the following:

Notary Deed and Registry Tax, to be paid upon signing of the contract, equal to approximately 2.5% of the declared value of the property.
Single Tax on the Property (Imposta Unica sul Patrimonio - I.U.P.), equal to 3% of the declared value of the property, to be paid when the Notary Deed is drawn up.

Cape Verde house: real estate property investment