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cape verde
Cape Verde.
Sal.
LOCATION
• Cape Verde is an archipelago made up of 10 islands and 5 islets
• 400 km (200 miles) off the west coast of Africa in the Atlantic Ocean
• 5 ½ hr flight time from UK international airports (Direct)
FACTS
• Population 422,000 across the ten islands – population on the island of Sal 14,000
• Capital City is Praia which is located on the Island of Santiago
• Two main international airports service the Cape Verde – Almicar (on Sal Island) & Praia (on Santiago Island)
• Over 20 years of tourism history – from countries such as Italy, Spain, Holland, France, Portugal & Brazil
• 130,000 tourists visit Cape Verde each year according the tourist board. This is on the increase and should reach 500,000 in the next 1-2 years
• Known for it’s world re-nouned Grogue the famous Cape Verde Rum & It’s carnivals
• Closest island to Europe with a tropical climate - On the same line of latitude as that of the Barbados Islands – but not on the Hurricane Belt
• General infrastructure is under development and improving rapidly
• 2 hours behind GMT LIVING IN CAPE VERDE
• Official language is Portuguese.
• Cheap cost of living, € 15 - €30 for a 3 course meal and a bottle of wine (the imported wine is more expensive)
• Clients need 6 months valid passport
• Visas paid for and given on arrival – Our clients have fast track through customs (€45 per person, included in the price of the inspection flight) DESCRIPTION OF CAPE VERDE
• 360 days of sunshine
• Weather is an average 25 degrees all year around
• Beautiful white sandy beaches and turquoise waters
• Restaurants hosting live traditional music throughout the year, extremely cultural.
• It’s not the Caribbean, it’s a volcanic Island at it’s early stages of development ACTIVITIES
• Dolphin watching & swimming - giant turtles laying their eggs
• A variety of on land activities - Day out in the natural lagoons
• Windsurfing, sailing, waterskiing, deep sea fishing and diving INVESTMENT
• Capital growth 20% - 25%
• No VAT on property
• Weekly Direct flight from the UK started 02/11/ 06 (Gatwick and Manchester)
• No building on the beach, but there are some front line beach apart hotels
• Upgrade and expansion plans for Almicar airport completion 2012
• Planning new PGA golf course on the Island of Sal
• New marinas planned for southern Sal
• Bank guarantees in place for a 50% of deposit only in Villa Verde – no one else
• Very strict building regulations.
INHERITANCE TAX
• Any family member inheriting anything will pay 3% CAPITAL GAINS TAX
• 3%
• However, as a company, we would suggest that the clients do their due diligence and check their tax liabilities in their country of origin. (We are not tax specialists) INCOME TAX
• 20% (Depending on Rental Amount) RENTALS
• You should expect to see: € 350 per week - Studio
€ 450 – 500 per week - 1bed
€ 500 – 700 per week - 2 bed
• High season all year around MORTGAGES
• Mortgages are in place you can expect rates at around 8-9%
• Borrow up to 70% LTV capital repayment mortgage
• Lending period 20 years
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