ANNOUNCEMENT 11 Jul 2012In July 2012, the government of Cape Verde announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Library of the Congress, Cape Verde: New Investment Code, 15 August 2012, http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403284_text
Investment Policy Monitor No. 8, http://unctad.org/en/PublicationsLibrary/webdiaepcb2012d5_en.pdf
US Department of State, 2011 Investment Climate Statement - Cape Verde, http://www.state.gov/e/eb/rls/othr/ics/2011/157254.htm
In 2012, the government of Cape Verde updated its Investment Code including various liberalisations with respect to foreigners.
On July 11, 2012, Cape Verde published the new Investment Code (Law 13/VIII/2012) in its Official Gazette. The legislative act provides non-discriminatory treatment of national and foreign investors. It also introduces the possibility for foreign investors to settle investment disputes with the Government of Cape Verde by means of an arbitration process, which increases the protection of foreign investors. Furthermore, the business operations of foreign investors are facilitated by the possibility to freely convert currencies, transfer incomes earned in Cape Verde abroad and the possibility to have multicurrency accounts.