The ISO code of Cape Verde is CV according to the ISO 3166 standard. The local name of the country is Cabo Verde. Cape Verde capital city is Praia. People in Cape Verde speak the Portuguese language. On 5 July 1975, Cape Verde emerged as a sovereign political entity. In the year 07/05/1975, Cape Verde emerged as a sovereign political entity. The largest city in Cape Verde is Praia.
Cape Verde is located in the UTC -01:00 time zone, which is also called Cape Verde Time or CVT. The internet country code top-level domain (ccTLD) for Cape Verde is .cv. The International dialing code for Cape Verde is 238. People in Cape Verde drive on the right side of the road. Total land area of Cape Verde is 4,033 km² (approx. 1,557 mi²). Cape Verde is not a landlocked country. It means that is is bordered by at least one major body of water.
Cape Verde is located in Africa. Cape Verde is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Cape Verde faces various issues, including soil erosion, deforestation due to demand for wood used as fuel, water shortages, desertification, environmental damage has threatened several species of birds and reptiles, illegal beach sand extraction, overfishing.
Doing business in Cape Verde
We offer various corporate services in Cape Verde jurisdiction. These services can serve both, people coming from Cape Verde and foreigners. If you plan on doing business in Cape Verde you might be interested in contacting us.
To find out about starting your business in Cape Verde click on company formation in Cape Verde.
To find out how to open a bank account in Cape Verde and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Cape Verde.
Choose preferred service below or continue reading to find out more about Cape Verde.
Demographics of Cape Verde
The total population of Cape Verde is 553,335 people. In Cape Verde, the population density is 122 people per square kilometer (317 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is diverse according to a fractionalization scale which for Cape Verde is 0.4174. Cape Verde has approximately 14874 foreign immigrants. The median age is approximately 24 years. In Cape Verde, 34.74 in every 100 people use internet. Cape Verde has a Human Development Index (HDI) of 0.636.
The majority religion of Cape Verde is Christianity, Cape Verde is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Cape Verde.
Culture of Cape Verde
People in Cape Verde speak the Portuguese language. According to data on inbound tourists in Cape Verde, 503,000 tourists arrive in the country each year. One of the most popular national dishes of Cape Verde is cachupa. To read more click on culture of Cape Verde.
Geography of Cape Verde
Cape Verde is considered to be a large nation because of its total area. Its total land area is 4,033 km² (approx. 1,557 mi²). Cape Verde is located in Africa. Its capital city is Praia. Cape Verde has no land borders.
The highest point of Cape Verde is Mount Fogo, with its official height being 2829 m (9,282 ft). Including land mass and EEZ, the total area of Cape Verde is approximately 804,594 km² (~310,654 mi²). The most notable natural resources found in Cape Verde are salt, basalt rock, limestone, kaolin, fish, clay, gypsum.To read more click on geography of Cape Verde.
Economy of Cape Verde
The currency of the country is Cape Verdean escudo. The symbol used for this currency is $, and it is abbreviated as CVE. 10.3% of population in the country are unemployed. The total number of unemployed people in Cape Verde is 56,994. Each year, Cape Verde exports around $0.16 billion and imports roughly $0.8 billion. The Gini Index of the country is 50.5. Cape Verde has a Human Development Index (HDI) of 0.636.The Global Peace Index (GPI) for Cape Verde is 3.332. Cape Verde has a government debt of 9.1% of the country's Gross Domestic Product (GDP), as assessed in 2013. Cape Verde is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are food and beverages, fish processing, shoes and garments, salt mining, ship repair.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Cape Verde is $2 billion. Each year, consumers spend around $1,202 million. The ratio of consumer spending to GDP in Cape Verde is 0%, and the ratio of consumer spending to the world consumer market is 0.0035. The corporate tax in Cape Verde is set at 25%. VAT in Cape Verde is 15%. In 2013, Cape Verde received 246.1 million USD in foreign aid.In 2014, the foreign aid amounted to 252.1 USD.To read more click on economy of Cape Verde.
Infrastructure of Cape Verde
In Cape Verde, 70.6% of the population has access to electricity. There are 38 internet hosts in Cape Verde. Cape Verde has 9 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Cape Verde is 4. To read more click on infrastructure of Cape Verde.
Politics of Cape Verde
Cape Verde, is a unitary semi-presidential republic. With regard to political and civil freedoms, Cape Verde is 1. Citizens in Cape Verde experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Jorge Carlos Fonseca.
According to the World Bank Group, the government effectiveness index of Cape Verde is -0.01. This indicates that the government of Cape Verde is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Cape Verde before considering any business maneuvers.In Cape Verde, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Cape Verde is 3.332. The strength of legal rights index for Cape Verde is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Cape Verde received 246.1 million USD in foreign aid. In 2014, the foreign aid amounted to 252.1 USD. Cape Verde is a member of the United Nations (UN). On 16 September 1975, it joined the UN as a full member state. Cape Verde is a member of the African Union (AU). On 18 July 1975, it joined the AU as a full member state. Cape Verde is a member of the World Bank. To read more click on politics of Cape Verde.
Environment of Cape Verde
Cape Verde emits 0.9 metric tons per capita of CO2. 840 km² of Cape Verde's territory is covered in forests. and forest land comprises 21% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Cape Verde is 4. To read more click on environment of Cape Verde.
Company formation in Cape Verde
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Cape Verde.
When establishing a company in Cape Verde, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Cape Verde that will affect the establishment and growth of one's business. Contact us or click on company formation in Cape Verde to read additional information when setting up a business.
Bank account opening in Cape Verde
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Cape Verde. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Cape Verde, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Cape Verde or contact us.