Starting your own business in Cape Verde can be an exciting and profitable endeavor, but there are certain steps you’ll need to take in order to ensure you’re successful. Keep reading to learn what those steps are, and how you can make sure that your new business becomes the success you want it to be!
Today, more than ever before, doing business in Africa can be extremely lucrative, especially when you look at countries like Cape Verde. Here we compiled some reasons why you should do business in Cape Verde and why it’s a smart financial decision for your future.
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1st Perfect Geographic Location
Cape Verde is located smack-dab in between North America and Europe, making it a perfect hub for doing business. You’ll find yourself with plenty of opportunities to do business with companies based all around.
2nd Labour Availability and Preferential Market Access
With a population of just over 500,000 people and limited labour force, there are plenty of opportunities to train, mentor and employ local staff. With an annual per capita income of less than $2,000 USD, most workers earn less than $1 USD per hour. In fact, almost 40% of all new jobs created between 2010 and 2016 were in tourism.
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3th Welcoming Government
Today, entrepreneurs in and outside of Africa are discovering Cape Verde as a base for business. The country’s Government has established one of Africa’s most welcoming investment policies – its business-friendly atmosphere makes it a priority for investors who value transparency and predictability.
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4th Investor Incentives
One reason you should do business in Cape Verde is because there are investor incentives. Since 2003, foreign companies who invest in Cape Verde are eligible for a range of investment incentives including duty-free import of machinery and equipment; duty-free import of spare parts; exemption from withholding tax on interest, dividends and royalties received from Government or public sector entities for ten years; accelerated depreciation allowances for two years after investment is made and an income tax credit based on local corporate taxes paid over a five-year period.
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Ready for your Cape Verde Venture?
NPCS can prepare project reports on any business idea you have. The project report includes all part of the business, from market analysis to confirming the availability of numerous necessities such as equipment and machinery, raw materials, and financial projections.
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Engineers, project consultants, and industrial consultancy businesses from all over the world have profited from the NPCS project report. NPCS also publishes technological, technical, reference, self-employment and startup publications, a directory, company and industry database, and much more, all of which may be found on the official website.
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