Holiday Lettings news - Tax breaks in Cape Verde

Tax breaks in Cape Verde

Tourism in Cape Verde is "about to explode" and property investors could reap the benefits, one expert believes.

Paul Akwei, managing director of Noscasa, said the islands were - for UK holidaymakers - one of the most popular destinations for a last minute Christmas getaway in 2007.

Mr Akwei believes this indicates a heightened awareness of what Cape Verde has to offer.

He added that the increasing popularity of the islands meant "the field is now wide open" for those offering "the facilities that holidaymakers demand".

Mr Akwei went on to say that Cape Verde is made even more attractive by its government's "very thoughtful and constructive approach to foreign investment".

There are a range of incentives on offer, including tax breaks and no limits on the amount of foreign currency that investors can transfer out of the country, he explained.

According to Noscasa, investors can expect net rental returns of around ten per cent per annum in Cape Verde.

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