Direct investment by emigrants in Cape Verde: tax incentives

In summary
Law No. 73/IX/2020 , of March 2, was published in the Official Bulletin, which approves the regime for direct investment made in Cape Verde by emigrants.

In details
Law No. 73/IX/2020, of March 2, was published in the Official Bulletin, which approves the regime for direct investment made in Cape Verde by emigrants.

The published diploma provides for a set of tax incentives to be granted to emigrants who make eligible investments in Cape Verde, namely:

Exemption from IRPC taxation on dividends and profits distributed to emigrant investors and originating from authorized foreign investment, under the terms of the IRPC Code;
Exemption from customs duties on the acquisition of materials for construction, expansion or redevelopment of a first home, as well as furniture, household appliances and other imported goods, under certain conditions.
The regime covers emigrant investors permanently residing abroad, as well as pensioners and retirees who have emigrated abroad, receiving pensions or similar income from the country of immigration.

The investment of capital in tangible or intangible assets in Cape Verde, under the terms set out in the approved diploma, is an eligible investment, such as the creation of companies or branches in Cape Verde, acquisition of shareholdings, granting supplies or supplementary benefits in companies in Cape Verde. shares are held.

This Law came into force on March 3, 2020.

Source: 2020 PwC