Buy Property Cape Verde,Real Estate Investment Property Sale Cape Verde

Property Cape Verde	PROPERTY SEARCH CAPE VERDE
Investment summary •Brand new emerging market •Low capital gains tax or Income Tax •Long rental season •Closest tropical islands to UK •Increasing number of direct flights •Two airports under construction •Government promoting tourism •Limited building possibilities, keeping appreciation high
Cape Verde Introduction Cape Verde is a group of ten islands and five islets off the west coast of Africa about 400 miles from Senegal. Before gaining their independence in 1975, they were under Portuguese rule, which is where a lot of the influence on the islands originates. The capital of Cape Verde is Praia, which is on the island of Santiago and only has a population of 113,000.The main island as far as investment is concerned is Sal, the principal town being Espargos, which is an urban centre formed around the international airport and has a mere 6,000 inhabitants.We also find Santa Maria here, which was a former salt working village but is now the tourism centre of the island and one of the most important (if not the most important) touristical points in the country. This is where tourists take advantage of all inclusive holidays on some of the most deserted beaches around.	Cape Verde Country Info: REGISTER FOR YOUR FREE CAPE VERDE BUYERS GUIDE Population:420,979 Capital:Praia, Santiago Languages:Portuguese, Creole Area (km2):4,033 Currency:Cape Verdean Escudo (CVE) Exchange rate:£1=160(CVE) Dialling code:+238 Emergency services:131
Getting to Cape Verde: With a flight time of 5 ½hours from the UK, Cape Verde is relatively quick and easy to get to. Sal already has an international airport, one of the largest in West Africa. There are now weekly direct flights to Sal from the UK from Gatwick and Manchester airports. Thomson are due to begin operating direct flights in May 2007. Buying process in Cape Verde •Cape Verde uses Portuguese property purchasing laws, in general buying a property in Cape Verde is no more difficult than buying a property in the UK or any other EU country. •The legal side of purchasing a property falls into two separate acts; the preliminary “promissory buying and selling”contract (Contracto de Promessa de Compra e Venda) and the completion contract (Escritura). •When the property has been chosen, a reservation fee, usually between £2,000 to £4,000 is taken. This takes the property off the market and fixes the price. •At this stage your lawyer will carry out Land Charges Searches at the local Municipal Authority and Land Registry Offices, check the sellers payment of tax regarding the property, and bills for electricity and other services and obtain a tax card on the purchaser’s behalf. •Once all checks have been made, both the buyer and seller sign the Promissory Contract of Purchase and Sale ("Contrato Promessa de Compra e Venda"). At this stage the purchaser will normally be expected to pay a deposit, usually between 10% and 30%. This contract should be signed before a Notary Public in Cape Verde sets out the terms of the transaction (property details, price, method of payment, completion date, warranties, penalties, etc.). •On completion, both parties Sign the final Deed of Conveyance called the “Escritura”which has to be done before a Notary Public in Cape Verde. This is the document that gives the purchaser proper title to the Property.