contentHeader.mask Frequently Asked Questions when buying Cape Verde properties
What is the legal system in Cape Verde?

It is a Civil law system based on Portuguese law with alterations to suit local traditions.

What is the title of the property - Freehold or Leasehold?

All land on Cape Verde is Freehold.

What is the public deed?

In simple terms, the public deed is a public document signed before a notary by both the buyer and seller of the property upon its completion. It transfers title of ownership from the seller to the buyer.

What are the charges involved with a purchase in Cape Verde?

There are a small number of government fees that must be paid when purchasing property in Cape Verde. These include, an acquisition tax called the IUP; this is 3% of the purchase price and is paid at the time of the public deed. Stamp duty costs 1% and the notary fee is €137.84. The registration office fee is €190.45. All these costs are subject to change. Another cost to remember would be solicitors fees, these can vary.

What other costs are there?

Other costs to budget for would include management fees to cover the running of the complex, utility fees, both setup and for the continued use, of the service providers.

Does the promissory contract have to be in Portuguese?

It is not essential for the promissory contract to be in Portuguese but it is preferred. Cape Verde Development uses a dual split contract with the Portuguese version on the left hand side of the page and the English translation on the right.

What rights do I have in the event that things go wrong?

In the event that something goes wrong, it will be dealt with in a fair and impartial manner by the judiciary system in Cape Verde.

If there are any major structural damages, who is responsible for repairs – can the builder/ developer be held responsible?

Under Cape Verdean law, there is a 5 year structural guarantee.

Is the promissory contract subject to Irish law or Cape Verdean law?

The promissory contract is subject to Cape Verdean law. The public deed of conveyance of purchase and sale is subject to Cape Verdean law.

How secure is my money?

Apart from the initial stage payment, all payments are subject to the issuing of a stage construction certificate. The funds are paid into an escrow solicitors account which will only release same to the builder upon the presentation of a construction bond.

What is the amount of each stage payment?

The stage payments vary from resort to resort but are generally: 30% of purchase price less deposit, to be paid within 28 days of signing the contract; 25% on pouring foundations; 20% on windows fitted;, 15% on internal tiling and 10% on the execution of the public deed.