Lawyers in Cape Verde
It is very important for you to get legal advice during the entire purchasing progress. Local solicitors will help you with questions and problems and guide you through each step of the buying procedure. One of the jobs of the solicitor will be to check land ownership (in case there are any dispute concerning the plot during the event) and also to check the plans to ensure that you are fully aware of what exactly is included in the purchase price and what is not. Below you will find a typical payment structure which will help you to calculate the amount of money you will need if you are interested in purchasing property in Cape Verde. Please note that payment structures can vary on the purchase of off-plan property on the islands.
- £700 reservation (deposit)
- 25% contract (minus deposit)
- 25% foundation
- 20% windows
- 20% tiles
- 10% completion
In the current Cape Verde tax regime, no Capital Gains Taxes incurred for foreign overseas property investors which has as a consequence that purchasing costs on Cape Verde property are minimal. Here you will find a typical example:
- Property Price: £50,000
- Deposit (usually 10%): £5,000
- Stamp Duty (3% of purchase price) = £1,500
- Land Registry (3% of purchase price) = £1,500
- Legal Fees = £340
TOTAL = £53,340 |
