Cape Verde » The Purchase Process

The purchase process in Cape Verde is quite straightforward. First Carry out Land Charges Searches at the local Municipal Authority and Land Registry Offices. These will reveal whether there are charges registered upon the property or any restrictions on title. The existence of a valid habitation permit is a precondition for a valid conveyance of built property to take place in Cape Verde and the existence of such permit presumes that a valid building licence was issued previously. The documents which should be obtained are the "Certidao do Registo Predial" (land registry certificate), "Planta de Localizacao" (official map with the property's exact location) and the "Certidao Matricial" (tax information certificate).

If the property is not registered, it is necessary to obtain a "Certidao pela negativa" (a certificate confirming that the property in not registered in anyone's name) and a "Certidao matricial para o efeito" (a tax certificate confirming this). With these two documents, it will be possible to register the property.

Check the payment of tax regarding the property, and bills for electricity and other services. You have to have your own solicitor representing you and once your offer has been accepted or a purchase price agreed upon you will sign a Contrato de Promessa de Compre e Venda or Promissory Contract and pay between a 10 and a 30% deposit as well as the transfer tax or IUP tax.

Your payment of a deposit secures the property which is good but it is non-refundable if you change your mind which is not so good.  So before signing this preliminary contract you really need to be sure you want to go ahead and commit, and what’s more, your solicitor has to check out the title of the property, that the vendor has the right to sell it and that there are no claims or debts outstanding against the real estate before you sign the initial contract to purchase.

Between signing the promissory and the final contract your solicitor will have to complete some paperwork relating to registration and taxation and then you will sign the final contract or Escritura and pay the balance of the purchase price (unless buying off plan and paying in stages), final taxes and the fees for the notary’s services.  Fees for buying can come up to as much as 13% of the property’s purchase price if you also include in the solicitor’s fees, estate agent’s fees, sales tax, conveyance tax, registration fees etc.

Once you have acquired the property, it is advisable that you execute a Capeverdian will to deal with your property in Cape Verde. Although an English will is valid, obtaining probate in Cape Verde is easier if there is a Capeverdian will.

Fees for notary, registration and stamp duty are normally 2.5% of the property value.