Cabo Verde, also known as Cape Verde, is an island country located off the west coast of Africa. The country has a growing economy, and as such, it is becoming an attractive destination for business owners looking to expand their operations. If you are interested in starting a business in Cabo Verde, this article will guide you through the process of registering your business.
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Step 1: Choose your business structure
Before registering your business in Cabo Verde, you must decide on the type of business structure that is best suited for your needs. The country recognizes several types of business structures, including sole proprietorship, partnership, limited liability company, and joint-stock company.
A sole proprietorship is the simplest form of business structure and is ideal for small businesses with a single owner. A partnership is suitable for businesses with multiple owners who wish to share the profits and losses of the business. A limited liability company (LLC) is a popular choice for businesses that want to limit their personal liability. A joint-stock company is ideal for larger businesses that want to sell shares to the public.
Step 2: Register your business name
Once you have decided on the business structure, the next step is to register your business name. Your business name must be unique and not similar to any other registered business name in Cabo Verde. You can check the availability of your preferred business name by conducting a search on the National Institute of Business Administration and Market Regulation (INARME) website.
Step 3: Obtain a tax identification number (NIF)
All businesses in Cabo Verde must have a tax identification number (NIF). You can obtain your NIF from the Ministry of Finance, and it is a requirement for registering your business.
Step 4: Register your business
with the Commercial Registry To legally operate your business in Cabo Verde, you must register it with the Commercial Registry. The Commercial Registry is responsible for maintaining a database of all registered businesses in the country. You can register your business online or in person at the Commercial Registry’s office.
When registering your business, you will need to provide the following documents:
A copy of your tax identification number (NIF)
A copy of your identification document (passport or ID card)
The registration fee (which varies depending on the type of business structure)
Step 5: Register for social security
All businesses in Cabo Verde are required to register for social security. This provides employees with access to social security benefits, such as health insurance and pension funds. You can register for social security online or in person at the National Institute of Social Security (INPS) office.
Generis Global can help you with your business in Cabo Verde Starting a business in a foreign country can be challenging, and Cabo Verde is no exception. That’s why Generis Global is here to help. We specialize in providing legal and financial services to businesses looking to set up operations in Cabo Verde. Our team of experts can guide you through the registration process and help you navigate the country’s complex legal and regulatory environment. Contact us today to learn how we can help you with the legal part of your business journey in Cabo Verde.