Decree-Law No. 57/2017, of 6 December 2017, amends the legal framework of the Cape Verde International Business Centre (CIN-CV), by introducing regulations which will finally allow its implementation. In view of its special features, the CIN-CV may become an important driver to attract foreign investment into Cape Verde.
The CIN-CV includes three separate centers in which three different activities may be undertaken, as follows:
- The International Industrial Centre (CII);
- The International Commercial Centre (CIC);
- The International Services Centre (CIPS).
Companies licensed to operate under the CIN-CV regime may benefit from a favorable tax regime as provided in the Tax Benefits Code, including reduced corporate income tax rates until 2030 and customs exemptions. Shareholders of companies licensed by the CIN-CV enjoy exemption on the distribution of profits as well as on other forms of capital remuneration.
For example, in the case of entities registered in the CIPS, corporate income tax rate is 2.5%, being required that the company hires a minimum of 2 workers. Entities registered in the CII and in the CIC may benefit from rates ranging between 2.5% and 5%, depending on the number of workers hired.
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