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Citizenship by Investment in Cape Verde

Citizenship in Cape Verde

The Republic of Cabo Verde is an island country spanning an archipelago of 10 volcanic islands in the central Atlantic Ocean. It is located 570 kilometers off the coast of West Africa. The Cape Verde archipelago was uninhabited until the 15th century, when Portuguese explorers discovered and colonized the islands, establishing the first European settlement in the tropics. Ideally located for the Atlantic slave trade, the islands grew prosperous throughout the 16th and 17th centuries, attracting merchants, privateers, and pirates. The end of slavery in the 19th century led to economic decline and emigration, although Cape Verde gradually recovered as an important commercial center and stopover for shipping routes. Incorporated as an overseas department of Portugal in 1951, the islands continued to agitate for independence, which was peacefully achieved in 1975.

Since the early 1990s, Cape Verde has been a stable representative democracy, and remains one of the most developed and democratic countries in Africa. Lacking natural resources, its developing economy is mostly service-oriented, with a growing focus on tourism and foreign investment. Its population of around 512,000 is mostly of mixed European and sub-Saharan African heritage (mulato), and predominantly Roman Catholic, reflecting the legacy of Portuguese rule. A sizeable diaspora community exists across the world, slightly outnumbering inhabitants on the islands.

Citizenship Legislation

Citizenship legislation is based mainly on jus sanguinis, not jus soli. Therefore, birth within the territory of Cape Verde does not automatically confer citizenship. The exception is a child born to unknown parents. Child, at least one of whose parents is a citizen of Cape Verde, is granted citizenship by descent regardless of the country of birth. Also, Cape Verdean citizenship may be acquired by naturalization. The minimum residency condition must be fulfilled. Person must have resided in the country for at least five years. Person who marries a citizen of Cape Verde is automatically (immediately and without prior residency in the country) eligible for citizenship upon request. Dual citizenship is recognized and there is no need to renounce previous citizenship when you become a citizen of Cape Verde.

Citizenship by Investment in Cape Verde

There is no official citizenship by investment program in Cape Verde but the law allows granting citizenship without any residency requirement to persons who make a sizeable investment in Cape Verde. Concrete amounts to be invested are not mentioned in the law. From our practice, we can say that 200,000 EUR is normally sufficient to be considered as sizable investment eligible for successful citizenship application. Family members (wife and children) can also get citizenship based on the same investment. The structure of investment may depend upon your personal circumstances. If you are retired person you can buy a house in Boa Vista, Sal or Santiago and apply for citizenship. If you are an active person you will be expected to make an investment that creates jobs for at least 10 local people.

“Elma Global” does not provide legal services in Cape Verde. Please, visit the comparison of passport programs page to see the countries we work with.

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