How to Register a Property In Capo Verde

Cape Verde or Capo Verde has enjoyed stable political structure and a fast growing economy since it's independence from Portugal in 1975. Cape Verde is now recognised as an important trading hub for Africa, Europe and the Americas.

In this article we give you a step by step procedure necessary for a buyer to purchase property from a seller and transfer the property title to the buyer’s name. The purchase will be considered complete when the buyer can use the property,use it as collateral for a bank loan or resell it.

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      Listed below are the procedures hope it helps in your endeavour good luck!

Step 1: Carry out searches at the Municipality

You will need to obtain two certificates at the Municipality. These searches are carried by a lawyer. The certificates you will need are the official map with the exact location of the property  and the second the tax information certificate. It includes the property value and information on who owns the property.

Agency: Municipality
7 days (simultaneous with Procedure 2)
Cost: CVE 1130

Step 2: Carry out Land Charges search at the Land Registry Offices

Your lawyer will also need to conduct a search to obtain the Land Registry Certificate (certidão do Registro Predial) that holds confirmation that the seller is the owner of the property and has legal rights to sell the property. This certificate will also reveal any charges against this property. The title is valid for 1 year.

Agency: Land Registry
Duration:1 to 3 days (simultaneous with procedure 1)
Cost:CVE 1000

Step 3: Signing the Promissory Contract of Purchase and Sale by both parties
You and the seller need to sign the promissory contract  thus committing to the transaction. The agreement will contain the terms of the sale, property details and price.  You and the seller can write it yourselves if you want, but we would recommend you contract a lawyer to draft it.
You will then have to pay a deposit of between 10% to 30% of the price value when signing this contract.

Agency: Lawyer's office
Duration: 2 days
Cost:CVE 70,000 (lawyer’s fees)

Step 4: Sign the deed of conveyance with any notary

At this point you will sign the public deed  that shows a title or deed has been transferred. It will be necessary for each company to provide a copy of the minutes of the meeting where it has decided that the company can buy or sell the property.

Agency: Notary public office
Duration:5 days
Cost:CVE 15, 958 (including stamp duty—paid by the buyer)

Step 5: Pay IUP (property transfer tax ) and register the new owner at the Municipality

You can pay IUP at any time as long as it is done within 30 days of the date of the deed of conveyance. It is necessary to submit the IUP payment proof to register the deed.

Agency: Municipality
Duration: 1 day
Cost: 1.5% of property value  + CVE 1,000 registration fee

6. Register the new public deed at the property registry 

There is no provisional registration, unless there is some issues with the property, but in general that doesn't occur often. Registration is not mandatory. However, if you want to sell the property through a public deed you must register the property first.
Agency: Land Registry

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