Cape Verde – Government approves “Green Card” for foreigners who buy real properties

The Cape Verdean Government has approved the creation of a different status for those who own a second home in Cape Verde by issuing a “Green Card” for foreigners, which offers a permanent residence permit for an indefinite period, under a decree published in the Official Bulletin. from the country.

The new law establishes the possibility of exemption from excise duty on assets (IUP), in order to ensure that the process of issuing a green card to foreigners who buy property in Cape Verde is fast, effective and efficient. He added that if green card holders are retired and their retirement income has not been generated in Cape Verde, they qualify for exemption under the Individual Income Tax Code (CIRPS).

“However, with the approval of the law that created a different status for the owner of a second residence in Cape Verde, several situations were identified to be regulated by the government in terms of the integrity of Law 30 / IX / 2018 of 23 April, ”noted the document quoted by Inforpress.

The Casa do Cidadão (Citizen House) has been assigned the task of granting the Green Cards and the Directorate for Borders and Foreigners is the responsible public entity.

Source: macauhub

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