Investing in international real estate can raise many questions. At Invest Cape Verde, we believe in total transparency and providing expert guidance for your journey. Explore our Frequently Asked Questions to learn more about property ownership, financing options, and how we help you secure high-yield returns in the growing market of Praia.
1. Can I buy property in Cape Verde if I am not a citizen?
Yes, absolutely. Cape Verdean law allows foreigners to acquire real estate in full ownership without any limitations. You enjoy the same property rights as a local citizen. To finalize the purchase, you will need a Cape Verdean NIF (Tax Identification Number). Invest Cape Verde assists you throughout this administrative process and can obtain your NIF on your behalf.
2. What is the minimum down payment for an investment?
The minimum down payment required is typically 30% of the property value. For the remaining 70%, you can either follow a payment schedule directly with the developer during construction or apply for bank financing. Please note that local banks generally release loan funds only upon completion of construction (handover of the keys).
3. What are the current interest rates in Cape Verde?
For non-residents and the diaspora, current interest rates generally range between 6% and 7%. These are competitive conditions for the region, allowing you to optimize your rental yield and long-term ROI.
4. Can I get a mortgage in my country of residence (Europe, USA, etc.)?
It is almost impossible to obtain a mortgage from a foreign bank for a property purchase in Cape Verde. Foreign banks cannot take a mortgage lien on a property located outside their territory. This is why we recommend the local Cape Verdean banking system, which is fully equipped to handle these transactions.
5. Can Invest Cape Verde help me find financing?
Yes. We work in close collaboration with the country’s major banking institutions (BAI, Ecobank, BCA, Banco Interatlantico) to streamline the process. We help you build a solid application and handle the follow-up with our banking partners to facilitate your loan approval.
6. Who manages my property if I am not on-site?
This is one of our key strengths. Through our specialized partner laconciergerie.cv, we offer a turnkey property management solution. From tenant search and key handover to cleaning and maintenance, everything is handled for you. This allows you to collect your rental income with total peace of mind, wherever you are in the world.
